Da Nang Cooperating in Developing Social Housing with Korean Enterprises
Publish date 22-12-2019 13:47

In the afternoon on 8th November, under the witness of Mr. Huynh Duc Tho – Chairman of the City People’s Committee and Mr. Park Noh Wan – Korean Ambassador, the Da Nang Department of Construction and Korea Land & Housing Corporation (LH) signed an MOU on developing social housing in Da Nang City.

Mr. Huynh Duc Tho – Chairman of the City People’s Committee giving opinions at the signing ceremony

Giving his opinions at the signing ceremony, Chairman Huynh Duc Tho was very pleased when the cooperation and investment between the Da Nang Department of Construction and LH obtained specific results after only one month from the time LH came to get to know about the cooperation opportunity to develop social housing in Da Nang City. Chairman Huynh Duc Tho said, social housing is an issue that Da Nang City is very much concerned with; as of present, the City has invested in more than 13,000 social houses. The program of social housing development of the City has been approved, with the target as of 2030, the City will continue investing in more than 20,000 social houses. To implement this target, Da Nang is calling for investors to invest in social housing.

With the experience and capacity in carrying out projects of houses and urban development of LH, Chairman Huynh Duc Tho believed that the parties’ MOU signing would be an important step, marking the cooperation process on social housing development in Da Nang City, contributing to the City’s development in particular and the cooperation relationship between Viet Nam and Korea in general.

As stated by Mr. Byeon Chang Heum – Executive Director of LH, the MOU would be a basis to establish support policies and actualize the cooperation between Da Nang and LH in the coming time. The Executive Director of LH confirmed that by their experience and capacity, LH would make efforts to cooperate with the City’s Department of Construction to effectively implement the MOU, contributing to the City’s socio-economic development in particular and Viet Nam in general.

MOU signing ceremony on social housing development in Da Nang City between the City’s Department of Construction and LH

The Korea Land & Housing Corporation (LH) is a State-owned enterprise of the Korean Government, which was established in 2009 on the basis of the Korea Housing Corporation and the Korea Land Corporation with the mission as an investor in building projects of urban and social housing development for lease. As of now, LH has built and provided 2.76 million apartments, of which there are 1.12 million social houses. LH has also been carrying out projects for smart city development and urban reconstruction.

In Viet Nam, LH signed an MOU with the Ministry of Construction regarding urban and housing development cooperation in April 2013 and an MOU with the People’s Committee of Hung Yen Province regarding smart city development cooperation. Presently, LH is cooperating with Ecopark to develop social houses in Ha Noi City.