Hanoi: Ho Chi Minh City's Department of Finance has signed a memorandum of understanding (MoU) with Korea Land and Housing Corporation (LH), the state-owned enterprise of the Republic of Korea (RoK), to collaborate on urban growth initiatives. The agreement, finalized on August 20, focuses on promoting smart new urban areas, industrial parks, and various projects within the southern metropolis.

According to Vietnam News Agency, the MoU outlines a framework for both entities to share knowledge and exchange information on urban development. The collaboration includes the organization of seminars aimed at enhancing understanding of legal frameworks and development trends in both Ho Chi Minh City and the RoK. This partnership represents a strategic effort to advance urban development initiatives through international cooperation.