This photo taken Feb. 19, 2025, and provided by Hyundai Engineering & Construction Co. shows (from L) Kim Kyeong-soo, chief operating officer for global marketing at the Korean builder, Mark Fraser, general manager for urban development delivery at Kainga Ora-Homes and Communities, and Korea Overseas Infrastructure & Urban Development Corp. Executive Vice President Won Byeong-cheol posing for a photo after signing a memorandum of understanding for housing development projects in New Zealand at the builder’s headquarters in Seoul. (Image courtesy of Yonhap)
SEOUL, Feb. 21 (Korea Bizwire) — Hyundai Engineering & Construction Co. (E&C) said Friday it, together with a public firm here, has signed an initial pact with a government agency of New Zealand to enter New Zealand’s housing development market.
Hyundai E&C and the Korea Overseas Infrastructure & Urban Development Corp. (KIND) have signed a memorandum of understanding (MOU) with Kainga Ora-Homes and Communities for cooperation in New Zealand’s housing development projects, the company said in a press release.
Kainga Ora is a government agency that provides rental housing for New Zealanders in need.
Under the MOU, Hyundai E&C is responsible for the construction of housing complexes, while KIND will draw up financial plans for housing projects and Kainga Ora will secure approval from local authorities, the release said.
(Yonhap)
