KHC Intent on Expanding Its
Presence Abroad

Signs MOUs with its counterparts in Azerbaijan and UAE

Korea Highway Corporation accelerated its bid to strengthen presence in foreign countries as it has established a bridgehead in Central Asia and the Middle East.
KHC President-CEO Son Hak-lae toured the Central Asian and Middle Eastern states, including Azerbaijan and United Arab Emirates, as part of a Korean economic delegation which accompanied President Roh Moo-hyun during his state visits there on May 10-19. KHC President Son signed agreements on Korea's exploration and entry to the road project markets in these countries.
The KHC president visited Vietnam and Cambodia on his way back from the trip to the Central Asian and Middle Eastern regions and discussed ways of promoting exchanges and undertaking new projects with related authorities there.
KHC President Son and other KHC delegates inked an MOU on comprehensive cooperation like information and manpower exchanges in the road sector with Azerbaijan road authorities during their visit to Azerbaijan.
A KHC official said, "KHC" agreement with Azerbaijan road authorities corresponds with the Korean government's efforts to strengthen diplomatic ties to tap foreign energy and resources markets. It will not only enhance KHC's profile, but also serve as an opportunity to secure a bridgehead in the Central Asian region."The Ministry of Construction and Transportation concluded MOUs on seven projects with Azerbaijan counterpart, including five ones, totaling $1.2 billion in value, related to roads and transportation. The MOUs between KHC and Azerbaijan road authorities can pave the way for KHC and Azerbaijan road authorities to make their joint entry into the market in Azerbaijan.
KHC President Son, who accompanied Minister of Construction and Transportation Choo Byung-jik, participated in Minster Choo's meeting with the UAE public project minister to promote exchanges between the two countries in the construction industry and build up confidence.
During his trip of Vietnam, the KHC president visited the Korea Embassy in Vietnam on the occasion of the 20th anniversary of Vietnam's reform and open-door measures and asked for support for the projects KHC is seeking to implement from the Southeast Asian country.
KHC President Son met with the Vietnamese vice minister of transportation and heard the word that the exchange project KHC is conducting with its Vietnamese counterpart, VEC is an exemplary case. They also took up such topics as the Build-Operate-Transfer (BOT) scheme on the construction of the highway leading to the Ho Chi Minh New Airport and Korea's bid for consulting services on the design of the road between Noibai and Laokao.
KHC President Son visited VEC and discussed a wide range of topics including the Ho Chi Minh New Airport projects. He agreed with VEC officials on the formation of a consultative body between them. He informed VEC officials of willingness to provide additional services on top of the seamless execution of the Noibai-Laokao road project if Korean companies, including KHC, are awarded with the project.
During his trip to Cambodia, Son visited a construction site on the detouring road project in Siem Reap where KHC is responsible for construction management and gave encouragement to the KHC officials dispatched there and officials from the Cambodian tourism authority, APSARA. nw

KHC President-CEO Son Hak-lae