Daewoo E&C Fully Sponsors 250 Million KRW for Improving Housing Conditions of Vietnamese Residents in Korea

Daewoo E&C announced on the 15th that it signed a four-party business agreement with the Embassy of Vietnam in Korea, Habitat Korea, and Wonosa to strengthen cooperation between the two countries at the Embassy of Vietnam in Jongno-gu, Seoul.

The agreement ceremony, held to commemorate the 30th anniversary of diplomatic relations between Korea and Vietnam next year, was attended by Daewoo E&C President Kim Hyung, Vietnamese Ambassador to Korea Nguyen Vu Tung, Habitat Korea Chairman Yoon Hyung-joo, and Wonosa Monk Thic Tuong Thanh. They agreed to promote friendly relations between Korea and Vietnam and cooperate on improving the residential environment for Vietnamese residents in Korea.

Daewoo E&C plans to fully sponsor the project with 250 million KRW for mural creation and shelter construction and conduct volunteer activities under the 'Employees’ Love House Building' program. The site for the shelter construction will be provided by Wonosa, a Vietnamese Buddhist temple located in Cheonan, Chungnam, and Habitat Korea will be responsible for project implementation.

The mural, themed around symbols representing the traditions and harmony of both countries, will be completed by the end of this year on the interior and exterior walls of the new Embassy of Vietnam building under construction in Jongno-gu. The shelter within Wonosa is scheduled for completion by October next year. Wonosa will operate the shelter, providing housing support and other treatment and counseling services to Vietnamese residents in Korea.

Since 2001, Daewoo E&C has leveraged its construction industry expertise to carry out facility repairs for families struggling with aging housing through the 'Hope House Repair' campaign. Since 2018, it has expanded the scale of this work in collaboration with Habitat Korea and has been engaged in various social contribution activities, including improving the residential environment for descendants of independence activists.

Daewoo E&C President Kim Hyung said, "This agreement is especially meaningful as it is being promoted to mark the 30th anniversary of diplomatic relations between Korea and Vietnam in 2022," adding, "I hope this project will bring the two countries closer and provide a place of rest for the Vietnamese community residing in Korea."

Meanwhile, Daewoo E&C officially entered the Vietnamese construction market starting with the establishment of its Hanoi branch in 1991 and has carried out projects worth approximately 3 billion USD over the past 30 years. Currently, it is advancing the 'Starlake City' project, developing a new city with an area of 2,104,281㎡?about two-thirds the size of Yeouido?in the West Lake area located northwest of Hanoi’s old town.