CEO Lee Ji-song of the Korea Land & Housing Corporation (LH) announced on June 16 that he has signed an MOU with Jemma Nunu Kumba, the minister of housing and land planning of the Government of Southern Sudan. The purpose of the agreement is to cooperate broadly during the course of the construction of the new capital of the Republic of South Sudan, including mutual technical collaboration on the master plan for the capital. The signing ceremony was held at the headquarters of LH Corporation located in Seongnam City, Gyeonggi Province.
The Government of Southern Sudan seceded from the Republic of Sudan on July 9, 2011, establishing the independent sovereignty of the Republic of South Sudan. It is the 54th nation in Africa and the 193rd nation in the world. The current capital is Juba, which is situated in the southern region of the territory, with the leaders of the nation proceeding with the establishment of a new capital commensurate with the status of an independent nation.
Employees of LH visited the region in early April together with Kim Eun-seok, Ambassador for Energy and Resources of the Ministry of Foreign Affairs and Trade. During the visit, the economic delegation made a presentation to President of the Government of Southern Sudan, Salva Kiir, about its basic policy regarding the foundation of the new capital. The president then proposed to sign an MOU for such a purpose.
“LH Corporation has accumulated cutting-edge technologies in the field of new town construction over the last five decades,” remarked the CEO, adding, “We are ready and willing to share our know-how and expertise with the Government of Southern Sudan and help its national development.”
In the meantime, LH Corporation held a business information session with the International Contractors Association of Korea back in June concerning joint new town development in China.
The occasion was attended by close to 200 personnel from construction engineering, IT, telecom, financial and energy companies, clearly demonstrating how much attention is being paid to LH’s new town project in Qinzhou City, Guangxi Zhuangzu. In particular, the deputy mayor of Qinzhou himself participated in the session in order to provide relevant information and data, including the city’s development strategies and policy directions.
Earlier, LH had conducted on-site evaluations in four prospective project sites of China, singling out a 3km2-wide site located in the city’s Binhai New Area.
Qinzhou is a port city in the southernmost part of China and is the nation’s forward base for free trade with the Association of South East Asian Nations (ASEAN). Currently, a number of development projects are underway in the area, including a harbor construction scheduled to be completed in 2012 and which will equip the port with 0.1 billion tons of annual commercial traffic, the construction of a 138km2-wide petrochemical and heavy industrial complex, a project for a 44km2-wide Gaoxin Technological Development Area specialized in the electronics and bio industries and an international tourism leisure town project in the Xianyang region. It is expected that the city, in time, will become a new economic linchpin of southwestern China.
LH is going to take the role of project manager, building on its abundant experience of new town development. Consortiums of financial investors and builders from both countries will establish a local subsidiary to progress with the undertaking.
“We are convinced that Korea’s advanced IT technologies and unique cultural contents will lead the project to success”, commented LH, adding, “Furthermore, corporations in the private sector will have many more opportunities to make a foray into the construction sector of China, the biggest of its kind worldwide, during and after the new town project.”
LH Corporation is to conduct an on-site survey to Qinzhou in July with those interested in the project. In the following month, it will organize a consultative group made up of companies that hand in their letters of intent.