The Chairman of the Provincial People’s Committee affirmed that Bac Ninh considers LH as one of the largest and most potential partners from South Korea. In addition, the province will prioritize the application of the “green channel” mechanism to shorten the time for administrative procedures for key projects.
Bac Ninh is also in the process of finalizing its merger with Bac Giang province, forming a new province with an area almost five times larger and a population nearly 2.3 times the current one. This will create favorable conditions for attracting investment and promoting urban development.
Besides industry, Bac Ninh is focusing on attracting projects in urban, commercial, service, education, training, and research and transfer fields. So far, the province has attracted 7.5 billion USD in investment in this field and aims to attract an additional 8 billion USD in the coming time.
The Chairman of the Provincial People’s Committee expressed confidence that with its capacity and experience, LH will soon successfully implement the Dong Nam urban area project, contributing to the modern urban face of Bac Ninh city.
On LH’s side, General Director Lee Han Joon hoped to continue receiving support from the provincial leaders and departments to soon materialize the Dong Nam urban area project in Bac Ninh city – LH’s first project in Vietnam. He committed to mobilizing a team of experienced experts to build the project into an icon not only of Bac Ninh and Vietnam but also internationally.
LH has completed the feasibility study report and is finalizing the dossier for approval of the investment policy to submit to the competent authorities as soon as possible.
Previously, in June 2023, the People’s Committee of Bac Ninh province and LH signed an MOU. The main fields and contents of the MOU include research, exchange of ideas, and cooperation, including tasks such as detailed planning and business planning for the successful implementation of the project; organizing workshops on urban issues in Bac Ninh province, the legal system of South Korea, and proposals for improving regulations and the business plan of the new urban area; coordinating the organization of promotion and investment promotion activities and workshops to attract and activate foreign direct investment, including Korean enterprises, in the new urban area project; coordinating the operation of the task force and delegating personnel to carry out the next tasks. The MOU takes effect from the signing date and remains valid until there is a decision to select an investor to build the new Dong Nam urban area.
In 2017, the People’s Committee approved the planning of the Dong Nam urban area of Bac Ninh city with a total natural land area of 1,520ha and a population of about 65,000 people.
This new urban area will ensure modern, ecological, and intelligent criteria, belonging to a class I city with urban-level functional areas. The high-quality urban functional areas will preserve and promote the existing village spaces, aiming to create a living environment that meets modern, civilized, ecological, and intelligent criteria.
Conveniently located at the gateway to two cities, the Dong Nam urban area is situated on important national transportation systems, including National Highways 18 and 1, and the planned Ring Road 4; the future DT 285B route will be invested and constructed as a ring road connecting eight provincial cities.
Planning subdivision of 1/5000 Dong Nam urban area, Bac Ninh city.
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Not only in Bac Ninh, but in 2021, the Korea Land and Housing Corporation and the People’s Committee of Hung Yen province also signed a cooperation agreement to develop a smart city in Hung Yen. In this project, LH, together with TDH Ecoland Joint Stock Company, is implementing an industrial park project of more than 140ha belonging to the Ly Thuong Kiet Industrial Park and Urban Service Area Project in Hung Yen province. The project is divided into two phases with a total investment of over VND 1,780 billion.
LH is a state-owned enterprise under the Ministry of Land, Infrastructure, and Transport of South Korea, established in 2010 by the merger of the Korea National Housing Corporation (KNHC) and the Korea Land Corporation (KOLAND).
LH Corporation has a chartered capital of 40 trillion won (USD 29 billion), with the main task of building houses to stabilize the housing of the homeless and the weak, implementing welfare housing projects according to the requirements of the Korean government; projects under the government’s policies such as land improvement projects, urban renovation, new construction, and urban improvement; projects for the development of foreign land, economic freedom areas, the Gaeseong Industrial Complex, and industrial and logistics complexes to create jobs and enhance national competitiveness; implementing reserve projects, land and rental house management projects, land informatization projects, etc.
Thanh Tu
– 14:50 19/06/2025
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