Wednesday, August 21, 2024

GG56 Korea to invest RM4.67b in Forest City to develop Malaysia’s first K-culture town




GG56 Korea to invest RM4.67b in Forest City to develop Malaysia’s first K-culture town




Executive Director of Country Garden Pacificview Sdn Bhd (CGPV), Datuk Md. Othman Yusof (2nd left) and CEO of GG56, Kim Young Kun (2nd right) exchange the Memorandum of Understanding (MoU) for Malaysia’s first Korean Culture Town project during the MoU signing ceremony at Forest City in Iskandar Puteri August 21, 2024. — Bernama pic

Wednesday, 21 Aug 2024 5:09 PM MYT



ISKANDAR PUTERI, Aug 21 — Korean investment firm GG56 Korea Ltd will invest US$1 billion (RM4.37 billion) in Forest City to develop Malaysia’s first Korean Culture Town.

This is following the signing of a memorandum of agreement (MoA) with Forest City’s master developer Country Garden Pacificview Sdn Bhd (CGPV) to develop the project, which will include K-Content Production Studios, an international Cultural District and a world-class residential development.


CGPV executive director Datuk Md Othman Yusof said the MoA marked a significant milestone in the ongoing development of Forest City, further solidifying its position as a global hub for innovation, culture and sustainable growth.

“This MoA is not just a formal agreement; it reflects our shared vision for Forest City and we are thrilled to collaborate with GG56 Korea to bring these transformative projects to life.


“Together, we will build a city that stands as a testament to innovation, culture, and sustainable development,” he told reporters after the signing ceremony here today.


The agreement was signed by Md Othman on behalf of CGPV while GG56 Korea was represented by its chief executive officer and co-founder Kim Young Kun, and Chung Dong Wan, chairman of CMK Consortium, a subsidiary of GG56 Korea.

Meanwhile, Kim said the agreement provided an opportunity for the company to create something extraordinary in Forest City.

“Through our collaboration with CGPV, we aim to contribute to the city’s growth and establish it as a leading global destination,” he said.

Forest City is a visionary urban project in Johor Baru. It is designed to be a smart, green and sustainable city that integrates residential, commercial and industrial spaces with cutting-edge technology and infrastructure.

GG56 Korea is an investment firm with a focus on high-impact projects in areas such as healthcare, entertainment, technology, and real estate. — Bernama

1 comment:

  1. WTF ?
    China Mega Project... become ghost city...now have to be rescued by South Koreans ?

    ReplyDelete