K-Content to Be Integrated into Overseas Urban Development Projects... Construction and Cultural Companies to Expand Abroad Together

[Financial News] A “convergence K-City platform” has been established to support the joint overseas expansion of Korean construction and content companies. It will identify joint overseas projects that combine cultural content with urban-development initiatives.
The International Contractors Association of Korea (ICAK) and the Korean Foundation for International Cultural Exchange (KOFICE) announced on the 7th that they had signed a memorandum of understanding at ICAK in Jung-gu, Seoul, to promote convergence-based overseas expansion in cultural content and overseas construction.
The agreement was pursued to combine ICAK’s expertise in construction and urban development with KOFICE’s cultural-content programs and international network. Its goal is to develop overseas expansion models that incorporate cultural and lifestyle services alongside urban and infrastructure construction.
The two organizations will share information on overseas construction, urban development, international cultural exchange, and cultural content. They will also link the K-City Network and their respective programs, while supporting participating companies and member firms in identifying overseas projects and building networks.
They will jointly pursue support programs for the overseas expansion of construction and content companies. Joint events, including seminars and forums, will also be used to expand opportunities for exchanges and cooperation among companies.
The convergence K-City platform operated by ICAK will be used for the cooperation. The platform was established to broaden the areas in which Korean companies can expand overseas by combining various industries and services, including K-content, with urban-development projects.
Han Man-hee, chairman of ICAK, said, "Overseas construction has recently been evolving beyond physical infrastructure to also consider culture and lifestyles. If KOFICE’s expertise in cultural content and global network are combined with the K-City Network, our culture and content could be realized more concretely in overseas cities and spaces."

[email protected] Choi Ga-young Reporter