SEOUL, KOREA - Korea Land & Housing Corp. is set to strengthen ties with the Vietnamese government in the area of urban development and housing construction.

 

 

 

The state-run company said on December 4 that it signed an agreement at Hanoi with Construction Minister Trinh Dinh Dung to share information on housing and industrial development projects and exchange officials for training.

 

The latest agreement was started by a request from the Vietnamese government for partnership as part of an effort to relieve the country's serious housing shortages due to accelerating urbanization. It is expected the pact may pave the way for Korean construction contractors to enter into the Vietnamese market. Currently it is estimated at least 100,000 small housing units must be built in the city of Hanoi alone.

 

Lee Jae-young, president of Korea Land & Housing Corp., said, "LH has been a leading state-run enterprise in building collective housing projects and urban development. We hope to provide expertise and know-how to the Vietnamese government so that the country could relieve the housing problem while contributing to its economic development, which will enhance the relationship between the two countries."