South Korea and Vietnam Strengthen Urban Development Cooperation
South Korea and Vietnam have taken significant steps to expand their collaboration in urban and transportation development projects. This initiative is part of broader bilateral discussions held during recent summit talks between the two nations, as reported by the Ministry of Land, Infrastructure and Transport.
During a meeting on Tuesday, South Korean Minister of Land, Infrastructure and Transport Kim Yun-duk met with his Vietnamese counterpart, Tran Hong Minh. The discussion focused on securing support for the Dongnam New City project in Bac Ninh Province, near Hanoi. This ambitious $740 million development aims to create a self-sufficient town that integrates housing, commerce, business, culture, and public infrastructure.
Many South Korean companies are actively involved in this project, showcasing the growing economic ties between the two countries. The project is expected to serve as a model for future urban development initiatives in Vietnam.
Strategic Collaboration on Infrastructure Projects
The two nations also engaged in discussions during a partnership forum, where they explored ways to enhance strategic cooperation on various projects. These include infrastructure modernization, transportation, and urban development. The focus on these areas reflects a shared commitment to fostering sustainable growth and improving quality of life in both countries.
On Wednesday, Kim attended a ceremony marking the completion of a multifunctional complex at Starlake City in Hanoi. This project is designed to build residential, commercial, educational, and administrative centers around West Lake through a collaborative effort between South Korea and Vietnam.
The multifunctional complex includes offices, a hotel, and retail facilities. Daewoo Engineering & Construction and other Korean companies have been involved in every stage of the project, from development and investment to construction and operation.
Major Contract for Driverless Trains
In another significant development, Hyundai Rotem Co. signed a 491 billion-won (US$332 million) contract to supply driverless trains for Ho Chi Minh City’s Metro Line No. 2. This project is scheduled to begin operations in 2030, marking a major milestone in Vietnam’s transportation infrastructure.
The contract highlights the increasing role of South Korean technology and expertise in shaping Vietnam’s urban landscape. With advancements in automation and efficiency, the new metro line is expected to alleviate traffic congestion and improve connectivity in one of Vietnam’s most populous cities.
This ongoing collaboration between South Korea and Vietnam underscores the importance of international partnerships in addressing urban challenges and promoting sustainable development. As both nations continue to invest in infrastructure and transportation, they are setting a precedent for future cooperation in the region.