Korea-Myanmar Industrial Zone project to be completed by 2024

ABOUT US$120 million will be invested in the Korea-Myanmar Industrial Zone (KMIC) Project phase 1 in Hlegu Township, Yangon Region, and it is planned to be completed by the end of 2024. The industrial zone project will be implemented in two parts on a total land area of 555.81 acres. Forty per cent of the […]

No disruptions to Korea-backed industrial park in Yangon

Work on the Korea-Myanmar Industrial Complex (KMIC) will continue despite the political unrest in the country. KMIC Managing Director Lee Jung Wook said on February 4 that the project might encounter delays but the impact of the ongoing situation has been minimal. “Construction works on the KMIC are still in the early stages, there is […]

Development of Korean industrial zone to commence this month in Myanmar

The first phase of construction of the Korea-Myanmar Industrial Complex (KMIC) in Hlegu township, Yangon, will commence on December 24 “We are trying to carry out the KMIC project development in a timely manner so that international investors will be able to come and set up facilities at this industrial zone. We believe prospects for […]

MIGA provide guarantee to Korea-Myanmar Industrial Complex

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, on October 26 issued guarantees to Korea Land & Housing Corporation of the Republic of Korea (LH) covering its equity investment of up to US$5.7 million in the Korea-Myanmar Industrial Complex Development Co., Ltd (KDC) for a period of up to 15 […]

Invitation for Bids – 1st Phase Site Development Construction Works of KMIC ; Deadline : 26th November 2020

Bid Announcement KMIC Development Co., Ltd. intends to invite eligible Bidders for “1st Phase Site Development Construction Works of KMIC”. 1. Bid Title: 1st Phase Site Development Construction Works of KMIC * Location of KMIC: Nyaung Hnit-Pin, Yangon Region 2. Spatial Work Scope: 1,273,514 m2 (314.69 acres, 1st phase) 3. Duration of the Contract: 24 […]

Myanmar, S. Korea Pledge to Step Up Cooperation on Trade, Investment, Energy

YANGON—Myanmar and South Korea have agreed to cement their economic cooperation, particularly in the trade, investment and energy sectors, to help Myanmar overcome the economic fallout from the coronavirus pandemic. Speaking via videoconference during Wednesday’s first meeting of the two countries’ Joint Commission for Trade and Industrial Cooperation, South Korean Trade, Industry and Energy Minister […]

Development of the Korean industrial project to begin in December

Construction of the Korea-Myanmar Industrial Complex (KMIC) will commence in December despite the COVID-19 pandemic, said Mr Kim Gun Woo, general manager of Korea Land and Housing Corporation’s representative office in Myanmar. The project is estimated to generate US$4.7 billion worth of value from investments and generate more than half a million jobs in support […]

Plans underway to establish a Korea Desk in Yangon

YANGON-Plans are underway to establish a “Korea Desk” in Yangon aiming to help Korean entrepreneurs, according to the Ministry of Commerce. It will be a one-stop service center to aid future Korean investors on any administrative issue; cooperation on shipping, shipyard upgrading, logistics, and port development and management; science and technological cooperation; startups and innovation […]

Invitation for Bidding – Development Plan and Detailed of KMIC; Deadline : 18th March 2020

Invitation for bidding KMIC Development Co.,Ltd, intends to invite eligible Consultants for “Consulting Services for “Consulting Services for Development Plan and Detailed Design of KMIC” 1.Name of Consulting Service : Development Plan and Detailed Design of KMIC *Location of KMIC: Nyaung Hnit-Pin, Yangon Region 2.Spatial Work Scope :555.81 acres (2,249,228 squaqre meters) -1st phase (Zone […]