Lotte, Daewoo Engineering & Construction Discuss Cooperation on Urban Development and Key Projects with Hanoi Chairman Visiting Seoul

【Hanoi, Vietnam—Kim Jun-seok, correspondent】Shin Dong-bin, chairman of Lotte Group; Jung Won-joo, chairman of Daewoo Engineering & Construction; and representatives of the Jeju Semiconductor, APACT, and FPT Korea consortium held a series of meetings with Vu Dai Thang, chairman of the Hanoi People’s Committee, who visited Seoul. They discussed cooperation measures for Hanoi’s urban development and key projects.
According to industry sources on the 9th, Shin Dong-bin met with Vu Dai Thang, chairman of the Hanoi People’s Committee, in Seoul on the 8th. Reaffirming his commitment to expanding investments in Vietnam and Hanoi, Shin said, "We are ready to cooperate with Vietnamese partners in distribution, hotels, housing, offices, and urban landscape development."
Chairman Thang shared information on Hanoi’s new strategic development direction and proposed that Lotte Group consider investing in transit-oriented development (TOD), next-generation mixed-use commercial facilities and hotel services linked to TOD, and the Red River Landscape Boulevard Project in line with Hanoi’s new development strategy.

Jung Won-joo also met with Chairman Thang and proposed measures for strategic cooperation. He asked Hanoi to support efforts to accelerate the Starlake New Urban Area Project and pledged to strengthen technology transfer and workforce training for Vietnamese workers participating in Daewoo Engineering & Construction projects.
Jung said he was willing to share Daewoo Engineering & Construction’s experience in smart-city and high-tech urban development. He added that the company would dispatch a team of Korean experts to provide support. He also proposed holding an economic forum in Hanoi in 2027 to mark the 35th anniversary of diplomatic relations between South Korea and Vietnam, and requested support from the Hanoi government and connections with local companies.
In response to Daewoo Engineering & Construction’s requests, Chairman Thang said, "I will instruct the relevant departments and bureaus to conduct a focused review of the difficulties facing the Starlake project and resolve them." He also urged Daewoo Engineering & Construction to concentrate its capabilities and promptly complete the remaining work. In addition, he welcomed the company’s consideration of participating in a new urban development project under Hanoi’s 100-year capital development plan and said the city was ready to pursue cooperation programs.

The Jeju Semiconductor, APACT, and FPT Korea consortium then met with Chairman Thang to discuss a project to build a semiconductor packaging and testing plant at Hoa Lac High-tech Park (HHTP), with an investment of more than $100 million.
The investment consortium said it would concentrate its capabilities to carry out the project as planned without disruption, thereby contributing actively to stronger economic cooperation between South Korea and Vietnam and to Vietnam’s industrial development.
In response, Chairman Thang asked the investment consortium to promptly develop the memorandum of understanding (MOU) into a detailed project and proceed with the goal of breaking ground in November and beginning operations in the first quarter of 2028.
He also emphasized that the effort should go beyond simply building a semiconductor production plant and should gradually establish a fully developed semiconductor ecosystem in the Hoa Lac area. He said he hoped production, research and development (R&D), semiconductor design, and advanced workforce training would be pursued in close cooperation with universities in Hanoi.
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