LH, Korea-Myanmar economic cooperation industrial complex groundbreaking ceremony

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(Seoul = International News) Reporter Park Jong-jin = LH announced on the 26th that it held a groundbreaking ceremony for the Korea-Myanmar Industrial Complex (“KMIC”) at the KMIC site in Yangon, Myanmar.

KMIC is the first overseas industrial complex led by LH, and is promoted in the first and second phases with a scale of 2.249,000m2 in the Yaungnipin area, 10km away from Yangon, Myanmar.

LH established a joint venture by investing 40%, 40%, and 20%, respectively, after signing a joint venture agreement with the Myanmar government and Korea’s Global SeAH Co., Ltd. in August last year to lay the foundation for launching the business.

The joint venture signed a contract worth 29.5 billion won with Gyeryong E&C and SeAH STX Entech consortium by conducting an international bidding announcement for the complex construction project for the first phase (1273,000㎡) in October.

At the groundbreaking ceremony, South Korea’s Chairman of the New Southern Policy Special Committee Park Bok-young, Ambassador Lee Sang-hwa to Myanmar, etc. U Phyo Min Htein), Governor of Yangon State, etc. attended, and the number of attendees was limited to a maximum of 60 to prevent the spread of Corona 19.

Lee Yong-sam, head of LH’s Global Business Division, said, “As the Korea-Myanmar economic cooperation project is on track through this groundbreaking ceremony, we will strive to create a successful industrial complex where both countries can coexist and develop without a hitch.”

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