The People’s Committee of northern Hung Yen province and the Republic of Korea (RoK)’s Korea Land and Housing Corporation (LH) on September 20 inked a memorandum of understanding on cooperation on smart city development in Hung Yen province.

Representatives of Hung Yen province and Korea Land and Housing Corporation
show the signed MoU on cooperation on smart city development

Speaking at the signing ceremony in Seoul, CEO of LH Byeon Chang-heum said the collaboration between the Vietnamese province and LH is of importance to the growth and joint development of both sides.

It will serve as a driving force to further strengthen the Vietnam-RoK friendship and cooperation, he added.

The construction of a smart city applying information and communications technologies (ITC) and Internet of Things could be an effective solution to various urban issues such as traffic, safety, parking and environment, Byeon said.

For his part, Chairman of the Hung Yen People’s Committee Nguyen Van Phong said the province is facing various problems due to fast urbanisation and population growth. 

Therefore, the province hopes to develop a smart city model in line with the Fourth Industrial Revolution, thereby improving living conditions of local people and contributing to the provincial socio-economic development, he noted.

LH is a leading business in smart city development in the RoK. It previously joined hands with TDH Ecoland, an affiliate of real estate developer Ecopark Corp, to set up a modern industrial park covering nearly 140 ha in Hung Yen.