Daewoo Engineering & Construction is seeking to expand its footprint in Vietnam beyond its flagship Star Lake City development as Hanoi embarks on an ambitious 100-year plan to reshape the capital around the Red River.

The Korean builder said Wednesday that Daewoo E&C Chairman Jung Won-joo met Hanoi Mayor Vu Dai Thang in Seoul the previous day to discuss the company’s ongoing projects in Vietnam and potential areas for further cooperation.

Jung highlighted Daewoo E&C’s more than three decades of operations in Vietnam during the meeting, pointing out that the builder had grown alongside the country’s economic development.

"Daewoo E&C has pursued various projects in Vietnam for more than 30 years, growing together with the local economy," he said.

"In particular, we have played the role of platform by connecting businesses and investors of Vietnam and Korea through the Star Lake City urban development project. Based on the experience and achievements we have accumulated in Vietnam, we will continue to expand our investments in various fields, including new towns, infrastructure and energy"

Jung also called for Hanoi’s support in completing Star Lake City, particularly in relocating government agencies and streamlining land compensation and permitting procedures.

The Hanoi mayor praised Daewoo E&C’s contribution to Hanoi’s development so far, underlining that the city would support the company’s future projects.

The meeting comes as Hanoi seeks to fundamentally reshape its urban structure under a 100-year master plan unveiled in June this year. The Vietnamese city's 100-year vision places the Red River at the center of the capital’s spatial reorganization and aims to transform Hanoi into a multilayered, multipolar and polycentric city with greater global capabilities.

"We are considering new business models such as K-smart cities that combine Korean technology, culture and content in line with Hanoi’s 100-year vision and urban development strategy," a Daewoo E&C official said.

"We aim to move beyond conventional urban development to create a future-oriented city that integrates culture and content while strengthening Hanoi’s global competitiveness and fostering closer ties between Korea and Vietnam."

By Kan Hyeong-woo (hwkan@heraldcorp.com)