Korea Land and Housing Corporation (LH) develops smart city in Hung Yen province

09:22, 17/12/2021

According to the Vietnam News Agency correspondent in Seoul (Korea), on December 13, within the framework of the Vietnam - Korea Business Forum held in Seoul, Mr. Nguyen Hung Nam, Vice Chairman of the People's Committee of Hung Yen province handed over the Decision established a clean industrial park and awarded a Memorandum of Understanding (MOU) for cooperation in smart city development between Hung Yen province and Korea Real Estate Corporation (LH).

Mr. Nguyen Hung Nam, Deputy President of Hung Yen people's committee delivers the Establishment decision of the clean industrial park to LH group.


Vietnam-Korea business forum held by the Ministry of Planning and Investment and the Vietnamese Embassy in the Republic of Korea and the Federation of Korean Industries (FKI) on the occasion of Vietnamese National Assembly Chairman Vuong Dinh Hue’s ongoing official visit to Korea, attracted representatives from 500 enterprises of the two nations.

Previously, on December 2,  the provincial People’s Committee and LH Group signed a memorandum of understanding (MoU) on cooperation in smart city development, which is hoped to further strengthen the bilateral cooperation in developing a smart city that can compete not only in Vietnam but also in the world.

LH is a leading enterprise in the expansion and construction of smart cities following the model of Korea. Kim Hyun Jun, Chairman of LH Group, affirmed that smart cities were receiving the attention of many countries around the world. It is a solution to solve some major urban problems such as traffic, security and order, environment, etc.

The RoK firm is cooperating with TDH Ecoland Urban Development and Investment JSC of Vietnam to develop a clean industrial park which covers an area of 140 hectares under the Ly Thuong Kiet Industrial Park and Service Urban project in Hung Yen province.

LH received the Investment Policy Decision from the Government Office on July 6, 2021 and the Investment Registration Certificate from the Industrial Zone Management Authority of Hung Yen Province on August 6, 2021.

The project has been approved the investment policy by the Prime Minister and added to the master plan on development of industrial zones in Vietnam until 2020. Currently, the investor is implementing land acquisition procedures, and infrastructure investment according to the approved planning, preparing the ground to receive investors . The project is divided into 2 phases with a total investment capital of more than 1,780 billion VND, equivalent to nearly 77 million USD.

Mr. Nguyen Hung Nam, Deputy Chairman of Hung Yen Provincial People's Committee said that the province always accompanies businesses to promptly solve difficulties and problems; at the same time, creates favorable conditions to support businesses to accelerate research and investment so that the first Korean style clean industrial park project in Vietnam will soon come into operation. This will be a symbol of Vietnam - Korea economic cooperation, towards celebrating the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea in 2022.

Following the direction of the Government, the province has also built an orientation to attract investment in industrial parks, ensure favorable conditions for strengthening production links in industrial parks, deploying projects on schedule, effectively using land resources and ensuring the feasibility of the development planning of industrial parks in the area.

By Khánh Vân - Đức Hưng 
(Correspondents of Vietnam News Agency in Korea)

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