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Korea Land and Housing Corporation Signs MOU on Smart City Development with India

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Business Korea
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The Korea Land and Housing Corporation (LH) announced on April 7 that it held an MOU ceremony in honor of the construction of Kalyan-Dombivali Smart City at Maharashtra State Government Building in India.

The Kalyan-Dombivali region was designated as the second smart city in September last year in accordance with the Indian government's 100 national plans. Previously, LH reviewed seven designated cities in Maharashtra as part of the Korea-India Cooperation and Development Project. Among them, Kalyan-Dombibli was finally selected as a region for the project due to its good business conditions such as its location and demand.

Kalyan-Dombivali Smart City in India is about 30 km east of India’s economic capital of Mumbai. LH explained that there were many people commuting to Mumbai, and the construction of industrial complexes around it was being pushed forward with, so demand was sufficient.

LH is planning to dispatch two experts in the urban development field to the region next month with the goal of expediting the development of Smart City. The goal is to receive an approval from the Maharashtra State Government within this year.

"India's Kalyan-Dombivali Smart City is the first Korean project to be launched in India," said Hyun Do-kwan, executive director of LH’s Strategic Business Division, adding, "We will also lay the foundations for Korean private companies’ implementing overseas development projects together."

Author: sustainabilityoutlook
Industry Term: Smart City MoU International