Jung Won-joo, Chairman of Daewoo E&C, recently visited Vietnam to inspect a new town project. He met with local political and government officials, urging cooperation to create conditions for active investment by Korean companies.
According to the company, on the 4th, Chairman Jung met with key figures including Tran Sy Thanh, Chairman of the Hanoi People's Committee, and Choi Young-sam, Ambassador of the Republic of Korea to Vietnam, in Hanoi to discuss various urban development projects underway locally. Chairman Jung stated, "Daewoo E&C has successfully developed Korean-style new towns such as Hanoi Starlake City, serving as a platform for investments by major Korean companies like Samsung Electronics, CJ, and E-Mart," adding, "Based on the development experience and profits from the Starlake City new town, we aim to expand reinvestment projects within Vietnam."
Jung Won-joo, Chairman of Daewoo Engineering & Construction (left), is seen discussing local business directions with Tran Sy Thanh, Chairman of the Hanoi People's Committee, in Hanoi, Vietnam, on the 4th. Photo by Daewoo Engineering & Construction
He continued, "We hope to participate in additional new town development projects in Hanoi to contribute to sustainable development and residential stability for citizens." In response, Chairman Tran Sy Thanh said, "We highly appreciate the Starlake City new town project and will actively support Korean investors, including Daewoo E&C, to enter Hanoi," the company reported.
Daewoo E&C has been engaged in various development and construction projects in Vietnam since the Daewoo Group era. As the domestic construction market has contracted, the company has expanded its business overseas, selecting Vietnam as one of its key strategic markets. Chairman Jung’s six visits over the past three years reflect this background. The company explained, "We continuously pay close attention and effort to long-term development projects by reviewing bidding strategies and expanding networks."
During his recent visit to Vietnam, Chairman Jung met with local business leaders such as Luu Trung Thai, Chairman of MB Bank, and Diep Quang Nien, Chairman of V Group, to discuss cooperation plans related to ongoing new town projects. He also met with Ambassador Choi Young-sam to request support for various social overhead capital (SOC) development projects under review by the Vietnamese government, including high-speed rail and nuclear power plants.
The north-south high-speed rail project promoted by the Vietnamese government is a 1,540 km railway connecting Hanoi and Ho Chi Minh City. It was approved by the National Assembly last year and will be pursued through an international competitive bidding process in the future. Our government and construction companies are participating in the bidding support group. Chairman Jung said, "I will become a private diplomatic envoy who does his best for the future of Vietnam and the Republic of Korea by winning various SOC projects."
Jung Won-joo, Chairman of Daewoo E&C (right), is taking a commemorative photo with Luu Trung Thai, Chairman of MB Bank, in Hanoi, Vietnam on the 4th. Photo by Daewoo E&C
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