LH pushes to expand its overseas business as a global developer
LH pushes to expand its overseas business as a global developer
  • Jung Jun-ho
  • 승인 2020.02.27 09:43
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An image of the Kuwaiti desert where LH will build Smart City. (Courtesy of LH)

Korea Land and Housing Corporation (LH) is planning to transform itself into a global developer. Unlike in the past, when it engaged in development after receiving requests from the government or other countries, it plans to take the initiative in development projects from the start of reviewing the project sites.

According to LH on Feb. 26, LH Land and Housing Research Institute made a public notice for the survey project of urban and infrastructure markets to establish mid- and long-term strategies for overseas projects on the Nara Market on Feb. 19. The budget of 160 million won has been set aside.

"We are pursuing overseas projects such as the Korea-Myanmar Economic Cooperation Industrial Complex (2015), the first direct investment project in foreign countries, followed by Kuwait New Town (2016) and India Smart City (2017)," the LH said in a notice. "LH will launch more aggressive overseas business activities in response to the role requested by the government or partner countries."

It plans to focus on Indonesia, Cambodia, Malaysia, Laos, Kazakhstan, Uzbekistan and Mongolia in line with the government's New Southern and New Northern policies.

It also plans to look into future demand for urban development in these areas and take the initiative in reviewing business sites.

LH Headquarters (Courtesy of LH)

LH also plans to analyze cases such as the "Gwangzhou Knowledge City" created by Singapore's developer Ascendas-Singbridge and the Chinese government or the "Deli and Mumbai industrial zone" jointly promoted by the Japanese government with the Indian government.

Through cases, the company intends to examine difficulties in entering foreign markets and draw out LH's business promotion strategy and business model.

“It is a service to examine overseas trends and pave the way for them to enter the business sites with customizations,” an LH official said. He went on to say, “LH plans to propose overseas projects first to the government based on the findings, as it is more efficient when it is pushed forward with the government after seeing the results of the service.”

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