S Korea realty giant LH plans urban-industrial area investment in Vietnam
Government-owned Korea Land & Housing Corporation (LH) plans to invest in a 500-hectare industrial-urban area project in the central coastal province of Binh Dinh.
Lim Hyun Seong, LH's chief representative in Hanoi, made the statement at a Wednesday meeting with Binh Dinh Chairman Pham Anh Tuan.
He added that LH seeks to develop urban areas with tourism purposes, in line with the pacey growth of Vietnam and Binh Dinh and meeting the people’s growing demand.
Binh Dinh Chairman Pham Anh Tuan (right) and LH chief Hanoi representative Lim Hyun Seong at a meeting in Binh Dinh province, central Vietnam, December 4, 2024. Photo courtesy of Binh Dinh news portal.
Backing the proposal, Pham Anh Tuan suggested two locations for LH, including the logistics urban area in Dieu Tri township near the to-be-built North-South high-speed railway, and the logistics urban area near Phu Cat airport.
Phu Cat airport is set to start the construction of its second runway in August 2025, towards completion in 2026 to host international flights, he added.
Tuan asked LH to study and build a 200-hectare industrial park in Binh Dinh province to attract South Korean investors.
He also called on LH to invest in industrial real estate, terminals and aprons for Phu Cat airport, and commercial-service projects near the sea.
In November 2023, Binh Dinh authorities and LH signed an MoU on urban growth partnership.
Binh Dinh is known as a renewable energy hub in central Vietnam. The province recorded registered FDI capital of $43.6 million in the first 11 months of this year, according to the Ministry of Planning and Investment.
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