Park Sang-woo to Sign Business Agreements On-site
Negotiations with Local Authorities and International Organizations to Secure Infrastructure Orders
Strengthening Cooperation with the Philippines, Vietnam, and the Asian Development Bank
The order support team led by Park Sang-woo, Minister of Land, Infrastructure and Transport, will visit the Philippines and Vietnam from the 28th to the 1st of next month to negotiate with local authorities and international organizations to secure infrastructure construction contracts. This trip was made possible by the recent appointments of Vivencio Dizon, Minister of Transportation of the Philippines, Tran Hong Minh, Minister of Construction of Vietnam, and Masato Kanda, President of the Asian Development Bank (ADB). The purpose is to proactively engage and increase cooperation in the infrastructure sector.
Minister Park plans to meet President Kanda in Manila, Philippines, to sign a memorandum of understanding to promote joint projects between the Ministry of Land, Infrastructure and Transport and ADB in the field of infrastructure development, as well as to strengthen cooperation between the two organizations through dispatch and exchange of experts, regular workshops, and collaboration with affiliated institutions. He will also discuss with Minister Dizon ways to expand cooperation in local railway and airport development and transportation infrastructure projects involving Korean companies. Additionally, he plans to visit construction sites where Korean companies such as Hyundai Engineering & Construction Consortium and Lotte Construction are participating to check on progress.
In Hanoi, Vietnam, a memorandum of understanding on railway cooperation will be signed. They also plan to seek cooperation on the Bac Ninh Province Southeast New City project, which is being carried out as the first project of the Urban Development Cooperation Program. The Korea-Vietnam Railway Cooperation Forum will be held on the 31st, with about 200 participants including officials from both countries, public institutions, and businesspeople. The forum will showcase Korea’s experience in high-speed railway construction and operation, with presentations and discussions divided by sector.
Minister Park said, "I am honored to visit the Philippines and Vietnam, countries with very high growth potential, as the first activity of this year’s order support team, following Korea’s achievement of $1 trillion in cumulative overseas construction orders for the first time last year. The government, public institutions, and private companies will unite as Team Korea to create new growth engines."
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