After 12 years of living and working in Vietnam, Mr. Chung You Seok (CEO of N.H.O) has become quite “Vietnamized,” affectionately known as “Mr. Chung.” Aside from his typically Korean features, Mr. Chung resembles a Vietnamese “white-collar” worker with his tall stature and agile movements.
“Even though I am Korean, I know that Vietnam also has a strong tradition of community culture,” Mr. Chung shared. This cultural similarity laid the foundation for N.H.O to build over 10,000 homes across eight provinces/cities over the past 12 years. From the very beginning, N.H.O has adhered to the principle of constructing projects and creating living spaces with a Korean style infused with Vietnamese cultural essence.
The K-Team: A True Korean Standard
In Vietnam, the Korean style is a sought-after concept in real estate development, targeting young Gen Y and Gen Z residents, who are also the primary customer segment. However, not many real estate developers can boast a complete “combo” of a K-Team, with each member hailing from South Korea and possessing extensive experience in developing and operating large-scale projects in their home country.
N.H.O is one of the few real estate developers that can make this claim, with a team of Korean experts accompanying the company from the outset. This includes architecture design (ADU), project management (SYPM), construction (Handong), and property management (Alpha Plus), resulting in sustainable development plans with a primary focus on the residents’ lifestyle. N.H.O often refers to this team as the K-Team.
Leading ADU, SYPM, Handong, and Alpha Plus are experts from top companies, boasting extensive experience in the real estate markets of South Korea, Japan, the United States, Thailand, and Singapore. Vietnam presents a new challenge for the K-Team, but also an attractive opportunity.
Speaking about the decision to deploy the K-Team across all N.H.O projects, Mr. Chung shared: “Each project, despite differences in geographical location, price, or target audience, shares a common feature: optimizing design and materials to create the best living space at the most reasonable price, regardless of the segment. How do we build a healthy community where residents live happily and harmoniously? We want consistency and synchronization across all projects to deliver the best experience for our residents. And this cannot be achieved overnight. Choosing a team to accompany us from start to finish is the optimal solution at this point.”
Who Are They?
With 20 years of design experience in South Korea and Japan (working for the Japanese architecture firm Norihiko dan & Associates), Mr. Park Sang Jun is known for prominent projects such as Jusandi Ishigaki Island and Coredo Muromachi 3 Commercial Center in Japan. Mr. Park is the Executive Director of SYPM, the company responsible for managing N.H.O’s real estate projects.
“We support the completion of the licensing process, and for tasks related to drawings, we conduct value engineering (VE) to meet N.H.O’s requirements within the allocated budget. After construction begins, we strive to deliver high-quality apartments to customers on time,” Mr. Park shared.
Thanks to SYPM, N.H.O’s projects are guaranteed quality and completed as committed, regardless of market fluctuations or material price changes, helping customers stay on top of their financial plans.
Mr. Hyunjin Han, a former colleague of Mr. Park at Norihiko dan & Associates, currently serves as the Director of ADU, the unit responsible for architectural design for N.H.O’s projects.
ADU is known for its consistent design style, optimized functionality, a sense of safety, and a blend of elegance and luxury. They bring a fresh perspective to real estate projects, regardless of the segment.
To ensure optimal quality, ADU is involved in all aspects of design, including architectural, interior, landscape, and graphic design for N.H.O’s major projects.
“We collaborate closely from the initial planning phase to the construction and operation stages. I think setting a goal and working with a partner who shares the same vision is a particular strength of N.H.O. For me, this is the most wonderful aspect of working with N.H.O,” Mr. Hyunjin shared about his experience working on the projects.
Alpha Plus, the unit in charge of operating N.H.O’s projects after handover, has been impressing with the Hi LIFE living standard, introduced in 2021. At the helm of Alpha Plus is the captain, Director Ryu Younghee. With 10 years of experience in the Housing Department of Samsung C&T, Mr. Ryu has participated in the operation of Raemian, a renowned South Korean apartment brand. Notable projects under his belt include Mapo Raemian Purgio, Raemian Highvert, and Raemian Soosung.
“From the point of project handover, management, and operation, Alpha Plus will accompany the residents 24/7, 365 days a year. Through the establishment of the Hi LIFE lifestyle, Alpha Plus and N.H.O aim to show our residents and staff our business philosophy: to bring happiness and inspiration to our residents—where we live and dream of building a healthy community,” Mr. Ryu shared about the mission of Alpha Plus and his personal mission since joining N.H.O.
Handong, which played a pivotal role in constructing the latest commercial housing project, The Dragon Castle, has made its mark in the construction field. Leading the way is Project Director Jang Jang Su, who brings 26 years of experience in building apartments and high-end projects in South Korea. Notable projects under his leadership include Jeju Kensington Hotel, Haegarden Seoul Apartments, and E-land Seoul Apartments.
“The Dragon Castle project in Ha Long is our most significant achievement. I believe residents will find the Sky Bridge an impressive and attractive feature of the project. We are confident that residents will love the landscape and how it blends harmoniously with the architecture of the buildings,” Mr. Jang Jang Su expressed his unconcealed enthusiasm when speaking about the projects he has been a part of.
Mr. Chung, the excellent leader of the K-Team, also has a proud journey. He is a doctoral graduate in real estate development in South Korea and has been involved in developing residential, commercial, and complex projects in South Korea, Thailand, the Philippines, and Cambodia. Notable projects associated with Mr. Chung include the HaeUnDae Complex Resort in Pusan and Dongdaemun Design Plaza (DDP) in Seoul.
Twelve years may not seem like a long time, but it has been enough to establish N.H.O’s stature and the values the investor brings by steadfastly pursuing the goal of building warm homes and a civilized community for tens of thousands of Vietnamese.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi
Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
