Daewoo E&C expands Vietnam infrastructure push

Apr 24, 2026, 12:19 pm

		0
Jung Won-ju, Chairman of Daewoo E&C (center left), and Le Ngoc Lam, President of Bank for Investment and Development of Vietnam (BIDV) (center right), pose for a photo after a meeting at BIDV headquarters. / Daewoo E&C

Daewoo E&C Chairman Jung Won-ju visited Vietnam as part of an economic delegation accompanying President Lee Jae-myung, signaling a broader push to expand the company’s business portfolio beyond urban development into infrastructure sectors.

The company said Jung participated in official delegation schedules from April 21 to 24, sharing progress on development projects and attending key events including a completion ceremony for a major mixed-use complex and a data center partnership signing.

A highlight of the visit was the completion ceremony of the “B3CC1” mixed-use development in Hanoi’s StarLake City. The project consists of two towers with up to 35 floors and a total floor area of 211,462 square meters, incorporating office, hotel, and commercial facilities. Daewoo E&C led development, investment, and construction, with participation from eight Korean financial institutions including KDB Development Bank and KB Securities. The hotel and residence facilities will be operated by Hotel Shilla, with an opening scheduled for October 2026.

At the ceremony, Jung said the project represents “a symbolic achievement of Korea-Vietnam economic cooperation,” expressing gratitude to both governments and related institutions.

Alongside the ceremony, Jung took part in economic delegation events including a state banquet, business roundtable, and forum, where he outlined plans to expand cooperation. He proposed large-scale smart city and arena developments integrating cultural, commercial, and residential functions, while also expressing interest in participating in data center construction, the North-South high-speed railway project, and nuclear power development.

Vietnam remains a key overseas market for Daewoo E&C. The company is currently developing multiple urban projects, including StarLake City, as well as sites in Hung Yen and Dong Nai, aiming to expand integrated smart city models.

The company is also accelerating its entry into digital infrastructure. On April 23, it signed a memorandum of understanding with SaigonTel, a Vietnamese IT and infrastructure firm, to jointly participate in data center projects. Future developments will be pursued through EPC (engineering, procurement, and construction) and joint investment models.

A Daewoo E&C official said Vietnam is a strategic market built on trust, adding that the company will continue expanding cooperation across sectors including nuclear power, high-speed rail, and data centers beyond its existing urban development projects.

#Daewoo E&C #Jung Won-ju #Vietnam #BIDV #data center