In a meeting with Hanoi Vice Mayor Duong Duc Tuan, Chairman Lee asked for close cooperation in resolving challenges such as LH's delayed license from the Vietnamese capital city for social housing, compensation for Hyundai Engineering & Construction related to delays in the company's work on the city's third subway line, delayed licensing for a new Lotte Mall Hanoi and delayed approval of the Starlake Hanoi apartment complex.
Chairman Lee said at the ceremony, "Construction of a Korean-style industrial complex, a result of bilateral cooperation, is all the more meaningful this year as it marks the 30th anniversary of Korea-Vietnam diplomatic ties," adding: "We hope the facility becomes a platform for Korean companies entering Vietnam and a successful model for bilateral economic cooperation".
Under a joint venture whereby the Korean consortium owns 75% and the Vietnamese partner TDH Ecoland holds 25%, the complex is expected to be completed by September 2024 on a 1.4 million square meter plot of land in Hung Yen Province, located to the southeast of the capital Hanoi.
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