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South Korea and Vietnam Agree to Expand Urban and Transportation Development Cooperation
South Korea and Vietnam have agreed to broaden ties in urban and transportation sectors following recent talks. Key projects include the Dongnam New City development and a new metro contract. Officials discussed infrastructure modernization during a partnership forum.
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South Korea and Vietnam agreed to expand cooperation in urban and transportation development as part of broader bilateral ties, Yonhap reported, citing South Korea's Ministry of Land, Infrastructure and Transport. The agreement follows summit talks between the two countries.
South Korea's land minister held talks with a Vietnamese counterpart on Tuesday, requesting support for the Dongnam New City project in Bac Ninh Province near Hanoi.
The US$740 million project involves many South Korean companies and aims to build a self-sufficient town integrating housing, commerce, business, culture and public infrastructure. During a partnership forum, the two countries discussed strengthening strategic cooperation on infrastructure modernization, transportation and urban development.
The discussions focused on enhancing bilateral efforts in these areas.
On Wednesday, South Korea's land minister attended a ceremony marking the completion of a multifunctional complex at Starlake City in Hanoi. The Starlake City project develops residential, commercial, educational and administrative centers around West Lake through a partnership between South Korea and Vietnam.
The multifunctional complex at Starlake City includes offices, a hotel and retail facilities.
Daewoo Engineering & Construction and other Korean companies are involved in development, investment, construction and operation of the Starlake City complex. Also on Wednesday, 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.
