'One Team Korea Townhall Meeting' for Overseas Construction Held on the 16th
Government and Public Institutions Shift Role from 'Rear Support' to 'Public Leadership'
Minister of Land, Infrastructure and Transport Park Sang-woo is announcing the major policy plans related to the transportation sector reported at the "Public Discussion on Livelihood with the People" held on the 25th at the Government Seoul Office in Jongno-gu, Seoul. Photo by Jo Yong-jun jun21@
On the 16th at 4 p.m., the Ministry of Land, Infrastructure and Transport will hold a One Team Korea Town Hall Meeting with overseas construction stakeholders at the Dongdaemun Design Plaza (DDP) in Seoul. This town hall meeting is organized to explore paradigm shift measures for the entire overseas construction industry through the high value-added overseas construction and entry into related industry packages, with the vision of Next Cityscape, which suggests innovation and future prospects in urban development.
About 80 participants from various fields such as construction and infrastructure, engineering, IT, mobility, as well as overseas construction-related policy demanders and public institutions are expected to attend. The Ministry of Land, Infrastructure and Transport plans to make the activation of overseas urban development projects the first paradigm shift task ahead of the era of $1 trillion in cumulative overseas construction orders. Since the first overseas expansion in 1965, the cumulative overseas construction orders amount to $965.56 billion (as of February this year).
To create successful cases of entry into overseas urban development projects, the ministry will proactively menu the smart city service sector, where Korean companies have strengths, and develop strategic country and project selection and comprehensive support models. In addition, to reduce risks for Korean companies, public institutions will directly participate in projects and lead package-type entries. As a public developer of projects, they will alleviate private sector burdens at each stage, from project discovery, commercialization support, investment support, to exit (EXIT) support.
This town hall meeting will be directly led by Minister Park Sang-woo, who will engage in freer and more candid communication with companies, policy demanders, and public institutions involved in overseas construction. The Overseas Construction Association, KIND (Korea Infrastructure & Urban Development Corporation), Daewoo E&C, and LH Land and Housing Institute will deliver keynote presentations. Construction companies representing overseas construction such as Samsung C&T, Hyundai Engineering & Construction, and Hanwha Construction, as well as engineering firms responsible for design and supervision like Dohwa Engineering and HanmiGlobal, will discuss strategies for entering overseas urban development projects.
IT and mobility companies and startups such as Naver and AngelSwing will also attend to discuss ways to apply smart technologies like digital twins and drones to urban development.
Minister Park said, "To activate entry into overseas urban development projects, public institutions will jointly enter to reduce risks and promote active investment, encouraging company participation. The government will take the lead as one team to create a milestone in overseas urban development projects."
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