Export of 'K-New Town' to Bac Ninh Province, Vietnam..."I'll set an excellent precedent".

The government has announced that it will participate in the creation of a southeastern new city in Bac Ninh Province, Vietnam, and pour water for exports of the "K-New City."

In this regard, Land, Infrastructure and Transport Minister Park Sang-woo attended the 'New City Development Project Cooperation Forum' held in Bac Ninh Province yesterday (25th).

In the forum, 23 private companies and public institutions, including Daewoo Engineering & Construction, POSCO E&C, and Woori Bank, who are interested in developing Southeast New Town, signed preliminary agreements with the Korea Land and Housing Corporation, which leads the project.

At the end of Vietnam's order support activities, Minister Park said the Southeast New City will be an excellent precedent for K-New City exports as it is expected to have huge forward and backward ripple effects on the industry and employment as a whole.

The Southeast New Town is a project to create a new city with 49,000 households in Bac Ninh Province, which is close to the northeast of Hanoi, similar to Pangyo New Town, and the Ministry of Land, Infrastructure and Transport and LH are conducting a market survey and feasibility study to participate in the Southeast New Town.