Business

Ho Chi Minh City, Korean state developer cooperate on smart urban development

Under the MoU, the two sides will share knowledge and exchange information on urban development, while jointly organising seminars to gain a better understanding of the legal frameworks and development trends in Ho Chi Minh City and the RoK.

Ho Chi Minh City's Department of Finance and Korea Land & Housing Corporation (LH) on August 20 sign a memorandum of understanding (MoU) on an urban growth partnership programme to promote smart new urban areas, industrial parks and other projects in the southern metropolis. (Photo: VNA)
Ho Chi Minh City's Department of Finance and Korea Land & Housing Corporation (LH) on August 20 sign a memorandum of understanding (MoU) on an urban growth partnership programme to promote smart new urban areas, industrial parks and other projects in the southern metropolis. (Photo: VNA)

Ho Chi Minh City (VNA) – Ho Chi Minh City's Department of Finance and Korea Land & Housing Corporation (LH), the state-owned enterprise of the Republic of Korea (RoK), on August 20 signed a memorandum of understanding (MoU) on an urban growth partnership programme to promote smart new urban areas, industrial parks and other projects in the southern metropolis.

Under the MoU, the two sides will share knowledge and exchange information on urban development, while jointly organising seminars to gain a better understanding of the legal frameworks and development trends in Ho Chi Minh City and the RoK.

They will also study and identify “leading projects”, with the municipal Department of Finance playing an active role in introducing sites for smart urban areas, industrial parks, building social housing and housing for workers, as well as providing necessary data to the RoK partner. The two sides will work to attract Korean businesses to join these projects.

Director of the Ho Chi Minh City Department of Finance Hoang Vu Thanh said the MoU is significant not only for international cooperation but also for creating a new mechanism to connect international knowledge and experience with the city’s specific development needs.

He expressed his hope that LH will serve as an important bridge connecting Ho Chi Minh City with Korean businesses, investors and partners, helping mobilise additional resources for the city’s development.

Consul General of the RoK in Ho Chi Minh City Jung Jung Tae said the southern metropolis’s development strategy shares many similarities with the RoK’s urban development experience, particularly the integrated connection among new urban areas, public housing, industrial parks, regional transport and urban infrastructure.

He said LH’s experience could contribute to areas Ho Chi Minh City is promoting, including polycentric urban development, transit-oriented development (TOD) around railway stations, urban renewal and redevelopment, connections between industrial and logistics hubs and residential areas, and sustainable and climate-resilient urban development.

LH is a major state-owned enterprise of the RoK that has successfully planned and developed large-scale industrial parks and key national infrastructure projects.

Ahn Byung Kon, Director General of Global Business Office at LH, said the corporation hopes to leverage its experience and expertise in large-scale industrial park and smart urban development in Ho Chi Minh City./.

​

VNA
#CPTPP #NQ 59 #HNNG 33_2 #Korea Land & Housing Corporation #Ho Chi Minh City #smart urban development Ho Chi Minh City
Follow VietnamPlus

International integration

Related News

The statue of Vietnam's King Ly Thai To ( (974 - 1028) in Bonghwa county (Photo: VNA)

RoK to develop K-Vietnam Valley project linked to Ly Dynasty heritage

With the designation in place, Bonghwa will carry out eight specialised projects worth a combined 347.6 billion KRW (245.1 million USD) from 2026 to 2030 – among them the K-Vietnam Valley itself, tourism development around Changpyeong Reservoir, rental smart farms, and a Baekdudaegan healing ‘pet village.’

Vietnam, RoK expand supply chain, manufacturing cooperation

Vietnam, RoK expand supply chain, manufacturing cooperation

Beyond sourcing products, RoK companies aim to build long-term partnerships with Vietnamese firms through product showcases, business-to-business (B2B) matchmaking, investment opportunities and sustainable supply chain development.

See more

A display area for Mid-Autumn Festival cakes at a supermarket (Photo: VNA)

Mid-Autumn Festival cake market heats up at affordable end

Industry insiders say competition is no longer just about the cake itself. Product quality, packaging, brand reputation, delivery services and personalisation are increasingly shaping consumer choices in a market crowded with both domestic and foreign players.

Minister of Foreign Affairs Le Hoai Trung (Photo published by VNA)

Vietnam, India set 25 billion USD trade goal

Vietnam and India agreed to make better use of complementary strengths, ease market access difficulties and facilitate business activities toward achieving the 25 billion USD bilateral trade target.

Delegates at the meeting between Vietnamese businesses operating in Cambodia and the Council for the Development of Cambodia (CDC) on September 14. (Photo: VNA)

Vietnamese businesses seek to expand investment in Cambodia

Vietnam currently has 223 investment projects in Cambodia with total registered capital of nearly 3.4 billion USD. Vietnamese companies operate in agriculture, particularly large-scale farming, finance and banking, telecommunications, aviation, processing, trade and services.

Children visit President Ho Chi Minh's hometown and learn about his childhood. (Photo: VNA)

Vietnam's tourism sector faces labour shortage

A 2026 survey by Hoteljob.vn found that nearly 90% of tourism businesses planned to recruit. In Ho Chi Minh City alone, 89.7% of businesses were hiring, while 71.8% said recruitment was difficult or very difficult. The biggest shortages were among frontline workers, particularly in housekeeping, engineering, food service, front-office operations, and kitchens.

Octopus processing for export at Huy Nam Company in An Giang province. (Photo: VNA)

New opportunities for Vietnam’s seafood exports

The Vietnam-EFTA Free Trade Agreement brings together two groups of highly complementary economies. EFTA members Switzerland, Norway, Iceland and Liechtenstein have strengths in technology, innovation, finance, clean energy and sustainable development, while Vietnam is one of Asia’s most dynamic economies and is emerging as a major regional manufacturing, trade and investment hub.

The saponin content of Lai Chau ginseng can reach as high as 23.85% in its natural state, a remarkably high level compared to many other ginseng species. (Photo: baolaichau.vn)

Lai Chau ginseng development gains momentum

Blessed with rare and distinctive ecological values, the northern mountainous province of Lai Chau is stepping up efforts to conserve and develop its native ginseng, with the medicinal plant expected to play a growing role in the forest-based economy and local livelihoods.

The Vietnamese delegation poses for a group photo at the third meeting of the Vietnam-Canada Joint Economic Committee (Photo: VNA)

Vietnam, Canada broaden economic cooperation beyond trade

Vietnam is currently Canada’s largest trading partner in ASEAN. Building on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the two countries are expanding bilateral economic ties into higher value-added areas such as clean energy, critical minerals, advanced technology, manufacturing and value-chain linkages.

The Index of Industrial Production (IIP) rises 14.4% in August and 11.9% in the first eight months compared to a year earlier. (Photo: VNA)

More momentum needed for economic growth in year-end race

To build momentum for the year-end race, one of the top priorities is to accelerate public investment disbursement, ensuring 100% of the allocated plan is disbursed without allowing funds to be concentrated in the final months of the year.

Vietnamese enterprises showcase products at the Vietnam Pavilion during the Foodist Istanbul 2026 fair. (Photo: Vietrade)

Vietnamese goods gain export opportunities in Türkiye, Spain

Vietrade said the programme helped businesses gain practical market information, identify potential products and partners, and better understand requirements on quality, pricing and distribution. Such direct connections are expected to help companies adapt their products and develop more effective export strategies.