Minister of Land Park Sang-woo Visits Vietnam to Discuss Urban Development Cooperation Plans

Visit of Public-Private Order Support Team to Vietnam from 15th to 17th
Meeting with Vietnam's Minister of Construction and Minister of Transport

A public-private order support team led by Park Sang-woo, Minister of Land, Infrastructure and Transport, will engage in infrastructure cooperation such as urban development in Vietnam.

Government Sejong Government Complex, Ministry of Land, Infrastructure and Transport. [Photo by Yonhap News]

The Ministry of Land, Infrastructure and Transport announced on the 14th that from the 15th to the 17th, the public-private order support team will visit Vietnam to support urban development projects.

This visit aims to concretize the cooperation plans for industrial complexes and urban development between the two countries, which were discussed during Vietnamese Prime Minister Phan Minh Chinh's visit to Korea earlier this month. It is a follow-up measure to the 'Urban Development Cooperation Program (UGPP),' a diplomatic achievement from President Yoon Suk-yeol's visit to Vietnam in June last year.

On the 16th, Minister Park will sign a 'Memorandum of Understanding (MOU) on Urban and Housing Development' and an implementation plan for 'Smart City and Social Housing Construction' with Nguyen Thanh Nghi, Minister of Construction of Vietnam.

He will then discuss participation plans for the North-South high-speed railway construction project in Vietnam with Nguyen Van Thang, Minister of Transport. The high-speed railway project spans 1,545 km connecting Hanoi and Ho Chi Minh City, with a scale of $57.34 billion. Minister Park also plans to request the participation of Korean companies in the $10.7 million Long Thanh New Airport operation consulting project.

Additionally, he will meet Nguyen An Tuan, Party Secretary of Bac Ninh Province, to introduce Korea's advanced smart city technologies. He will also convey the intention for Korea Land and Housing Corporation (LH) and others to participate in the Southeast New City project underway in Bac Ninh Province to establish a successful urban development cooperation model.

In particular, the Southeast New City project in Bac Ninh Province is a project in which Bac Ninh Province and LH are closely cooperating. This project was the first project discovered through the UGPP, and its scale is similar to the Pando New City. Minister Park will inspect the project site with Bac Ninh officials and attend investment attraction meetings.

Meanwhile, the Ministry of Land, Infrastructure and Transport will hold the 'Korea-Vietnam Urban Development Innovation Forum' on the 16th. This is a measure to support Korean companies' entry into Vietnam.

The forum will be attended by government officials from Korea and Vietnam, as well as representatives from over 30 domestic companies including Samsung C&T and Hyundai Engineering & Construction.

At the forum, presentations on Korea's urban development, smart cities, smart mobility, and financial support will be conducted, and business meetings between Korean and Vietnamese companies are also scheduled.

Minister Park said, "Vietnam is a young country with an average age of 32.5 years, with great potential for development across the economy and industry, leading to high demand for urban development in Vietnam. We will closely cooperate with the Vietnamese government in the housing and urban development sectors and continuously strive to expand cooperation between the two countries in infrastructure projects such as railways and airports."

This content was produced with the assistance of AI translation services.