ICAK, KODA Join Forces to Identify Overseas Development Projects

[Financial News] The International Contractors Association of Korea (ICAK) and the Korea Developer Association (KODA) will support joint overseas expansion by Korean developers and construction companies. The two organizations plan to combine their global networks with their development, finance and operations expertise to identify promising projects and establish a collaboration model between companies.
On the 11th, the two organizations signed a memorandum of understanding at KODA in Gangnam-gu, Seoul, to cooperate on overseas development projects and strengthen the competitiveness of Korean companies seeking to expand abroad.
The agreement was designed to support Korean developers facing difficulties in entering overseas markets independently due to insufficient local networks and policy support. The two organizations plan to use their expertise and networks in real estate development and overseas construction to expand their members’ opportunities to participate in overseas markets.
The cooperation will center on the Convergence K-City Platform established by ICAK. The two organizations will use the platform to jointly identify promising overseas development projects and exchange related information. They also agreed to establish a collaboration model between developers and construction companies, hold joint forums and expand their cooperation network.
ICAK will provide global networks, policy expertise and on-site experience in construction and content, while KODA will connect its know-how in development, finance and operations. Specific areas of cooperation will be finalized through follow-up working-level discussions.
Han Man-hee, chairman of ICAK, said, "I am confident that the overseas expansion competitiveness of our companies will rise to a new level if KODA’s know-how in development, finance and operations is added to ICAK’s global networks, policy expertise and on-site capabilities in construction and content."
Hanmo Kim, chairman of KODA, stated, "Local networks and policy support are essential for Korean developers seeking to expand overseas, and ICAK is the ideal partner for that purpose. I hope this agreement will serve as a practical foothold for our members’ entry into overseas development projects."



[email protected] Choi Ga-young Reporter