Korea Land and Housing Corp. (LH) struck an MOU on the implementation of the Urban Growth Partnership Program (UGPP) for development cooperation in the Korean-Vietnamese G2G-based city and infrastructure areas with five representative provinces in northern Vietnam at the Historic House Museum of Uncle Ho in Hanoi on June 23.
The five Vietnamese provinces are Bac Ninh, Thai Binh, Thanh Hoa, Hai Duong, Hung Yen provinces.
The signing ceremony took place with President Yoon Suk-yeol, who was on a state visit, Vietnamese President Vo Van Thuong, and LH President Lee Han-joon in attendance.
UGPP is a G2G-based urban development cooperation platform in which Korea and Vietnam will create Vietnam’s new urban models by sharing experience, technology, and knowhow related to the construction of new satellite cities and the development of industrial complexes.
Proceeds accruing from urban development will be reinvested into public projects, such as social housing, and Korean companies will be induced to participate in the implementation of the projects to secure overseas construction orders.
LH introduced UGPP and ramped up efforts to implement projects designed to attract provincial governments’ participation at “Meet Korea 2023,” which took place at Bac Ninh Province from May 17 to May 18.
The event, hosted by Korean Embassy in Vietnam was attended by 10 provinces in northern Vietnam, including Hanoi.
Under the deal, LH and the five Vietnamese provinces agreed to ramp up inclusive cooperative relationship in areas ranging from the establishment of policies, such as smart new cities, industrial complexes and public infrastructure, to urban development.
In particular, an investment environment favorable to Korean companies will be created in the course of implementing the development projects, such as smart new cities, explored as new city models, and industrial complexes.
Both sides will aggressively cooperate to maximize synergetic effects by utilizing Korea’s tangible and intangible official development assistance (ODA) and organic combination of the ODA and investment projects.
To this end, LH will form “Team Korea” with Korea International Cooperation Agency (KOICA) and the Export-Import Bank of Korea (KEXIM) and cooperate with the Ministry of Land, Infrastructure and Transport (MOLIT).
A view of a community garden of LH Signature Gardens, LH’s public housing garden, which was honored with the presidential award, the top prize, at the 13th Korea Landscape Awards, on June 26.
LH Wins Presidential Prize for 2nd Consecutive Year at 2023 Korea Landscape Awards
Korea Land and Housing Corp. said LH Signature Gardens, LH’s public housing garden, was presented with the presidential award, the top prize, at the 13th Korea Landscape Awards, on June 26.
The public housing garden in Godeok, Pyeongtaek, took home second prize after winning the presidential award at the 12th Korea Landscape Awards last year.
It reflects LH’s evaluation of being recognized for its outstanding design and technology prowess.
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