Daewoo Engineering & Construction Chairman Jung Won-ju visited Vietnam as part of an economic delegation timed to President Lee Jae-myung’s trip, the company said April 24. During the April 21-24 visit, Jung joined official events and highlighted the company’s track record and experience in Vietnam.
Jung attended a completion ceremony for the B3CC1 mixed-use development in Hanoi’s Starlake City. The project consists of two towers ranging from three basement levels to 35 stories above ground, combining offices, a hotel and commercial facilities. It was completed with a total floor area of 211,462 square meters, with South Korean companies involved across development, investment and construction.
At the ceremony, Jung said the project has become a symbolic example of economic cooperation between the two countries. He said support from the Vietnamese government, the Hanoi city government, the South Korean government and related agencies played an important role in completing the project.
On the same day, Jung visited the headquarters of the Bank for Investment and Development of Vietnam to outline future plans and seek expanded cooperation. The bank is known as a key financial partner that has participated in major development projects, including Starlake City.
Jung also took part in the delegation’s official schedule, attending a state banquet as well as a Korea-Vietnam business roundtable and forum. He presented ideas for smart cities and large arena developments, proposing an urban model that combines culture and industry, and expressed willingness to contribute to digital infrastructure through data center construction.
He also signaled interest in expanding into large infrastructure projects such as nuclear power generation and high-speed rail, indicating a broader scope beyond the company’s existing focus on urban development.
A Daewoo E&C official said, “Vietnam is one of Daewoo E&C’s key strategic markets and a trusted partner, and we plan to continue expanding investment and cooperation across areas including nuclear power plants and high-speed rail, urban development and data centers.” The official added, “Through this, we will contribute to Vietnam’s economic development while doing our utmost to further strengthen friendly and cooperative ties between the two countries.”
Separately, Daewoo E&C signed a memorandum of understanding with Vietnamese IT and infrastructure company SaigonTel to cooperate on data center projects. The companies plan to pursue projects together through data center EPC and joint investment. Daewoo E&C said it expects the partnership to create synergy as policy changes in Vietnam expand the related market.
* This article has been translated by AI.
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