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Kuwait, South Korea signs MoU to establish joint construction company
May 10, 2016, 12:45 pm

Director General of the Public Authority for Housing Welfare (PAHW) Bader Al-Wugayyan signed late Monday a Memorandum of Understanding (MoU) with South Korea's Land and Housing Corporation (LH), to establish a joint construction company.

The signed MoU comes under the agreement between Kuwait government and the government of South Korea, which was signed by Kuwait's Minister of State for Housing Affairs Yasser Abul and South Korean Minister of Land, Infrastructure and Transport Kang Hoin, during the visit of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah to South Korea, said Al-Wugayyan in a press statement.

The company's incorporation procedures will be taken in accordance with the systems and the laws in Kuwait, and it will operate in the planning, design and implementing road construction works for about 30,000 housing units in south of Saad Al-Abdullah City, the statement added.

Saad Al-Abdullah city will be the first smart and environment-friendly city in Kuwait and in line with international standards. Al-Wugayyan is currently in South Korea accompanying His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, who started a visit to Seoul last Sunday. 

Source: KUNA

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