Korea Developers Association holds briefing with U.S. investment manager, steps up overseas infrastructure development

[Financial News] The Korea Developers Association is stepping up efforts to build infrastructure for overseas expansion, one of its key focus areas.
According to industry sources on the 13th, the Korea Developers Association will hold a briefing on the West Bottoms Redevelopment Project jointly with SomeraRoad, a U.S. multinational real estate alternative investment manager and developer.
At the event, the association will introduce SomeraRoad’s redevelopment project and share key details and business opportunities related to overseas development projects. According to the association, SomeraRoad was founded in 2006 and is currently investing in various fields, including the West Bottoms redevelopment project in Kansas City.
The association is working to build infrastructure for overseas expansion as one of its key projects. As part of this effort, it signed a memorandum of understanding with the International Contractors Association of Korea (ICAK). It has also established a cooperative system with the Korea Overseas Infrastructure & Urban Development Corporation (KIND) and major construction firm Daewoo Engineering & Construction Co., Ltd. It also appointed Ngon Saing, chairman of the RMA Group in the Kingdom of Cambodia, as an adviser to its International Committee. Association Chairman Kim Han-mo said, “We plan to continue creating practical footholds for our member companies to enter overseas development projects.”
[email protected] Lee Jong-bae Reporter