MOU aims to boost overseas development project activity

Convergence platform to identify promising projects

'Combining global networks with development know-how'

The Korea Developer Association and the Overseas Construction Association sign an MOU on Friday to promote overseas development projects. [Korea Developer Association]
The Korea Developer Association and the Overseas Construction Association sign an MOU on Friday to promote overseas development projects. [Korea Developer Association]

The Korea Developer Association and the Overseas Construction Association have joined forces to expand overseas development project activity for domestic developers and construction companies.

The two organizations signed a mutual cooperation MOU on Friday to promote overseas development projects. They plan to refine a combined investment-development model aligned with global market trends, secure new business opportunities and strengthen the competitiveness of domestic companies.

Under the agreement, the two organizations will combine developers' project planning and development capabilities with the overseas project experience and global networks built up by the overseas construction industry. The aim is to go beyond simple construction work — covering everything from land sourcing and project planning to financing and operations management — to reduce the risks of entering overseas markets and raise the overall quality of projects.

The MOU includes provisions for using a convergence platform to identify promising projects and share relevant information. It also covers the establishment of strategic collaboration models between developers and construction companies, the sharing of information on policies, systems, and financial and guarantee support related to overseas expansion, and the joint hosting of professional training sessions and seminars.

"In advanced development markets, quality and crisis-response capacity are maximized when specialized players in each field work together organically," Korea Developer Association Chairman Kim Han-mo said. "Combining the technical capabilities and global networks of the overseas construction industry with developers' planning skills and development know-how will allow us to secure competitiveness in the global market."

Overseas Construction Association Chairman Han Man-hee said global demand for urban and infrastructure development is growing. "We expect that cooperation with developers who have strong project planning and development capabilities will serve as an opportunity to enhance the competitiveness of domestic companies in overseas business," he said.

The two organizations said they will work out specific follow-up cooperation measures through practical consultations going forward.

Meanwhile, the Korea Developer Association represents domestic real estate developers and works to protect the interests of its members and foster the industry through policy recommendations and other support. The association has also been playing a key role in promoting urban development projects and expanding into global markets, including signing an MOU with the Korea Overseas Infrastructure and Urban Development Corporation in June.


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