South Korean investment powerhouse GG56 Korea Limited has pledged US$1 billion (RM4.37 billion) to lead the development of Malaysia’s first Korean Culture (K-Culture) Town. This visionary project is set to elevate Forest City into a leading global destination for culture, innovation, and sustainable development.
The collaboration was formalized through a Memorandum of Agreement (MoA) signed today between Country Garden Pacificview Sdn Bhd (CGPV), the master developer of Forest City, and GG56 Korea Limited. This partnership will drive the development of several major projects within Forest City, including Korean-content production studios, an international cultural district, and a high-end residential area.
Shared Vision for Forest City
CGPV Executive Director Datuk Md Othman Yusof emphasized that the MoA represents more than just a formal agreement; it is a shared commitment to transforming Forest City into a globally recognized center for culture and innovation.
“We are thrilled to collaborate with GG56 Korea Limited 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 said.
The development of the K-Culture Town is expected to significantly boost Forest City’s reputation as a dynamic and forward-thinking urban environment, drawing interest from both investors and cultural enthusiasts worldwide.
Strategic Collaboration
GG56 Korea Limited’s Chief Executive Officer, Kim Young Kun, highlighted the strategic importance of this partnership. “Through our collaboration with CGPV, we aim to contribute to the city’s growth and elevate it as a leading global destination,” he said.
The MoA was signed by key representatives from both companies, including CGPV’s executive directors Md Othman and Teo Chee Yow, as well as GG56 Korea Limited’s CEO Kim Young Kun and CMK Consortium Chairman Chung Dong Wan.
A Future-Ready City
Forest City, envisioned as a smart, green, and sustainable urban project, seamlessly integrates residential, commercial, and industrial spaces with cutting-edge technology and infrastructure. The city has already garnered significant attention as a special financial zone, attracting international investments that further its prospects as a global hub.
GG56 Korea Limited, known for its focus on high-impact projects in sectors such as healthcare, entertainment, technology, and real estate, views this investment as a strategic move to capitalize on Forest City’s potential and contribute to its development into a world-class urban destination. With the establishment of the K-Culture Town, Forest City is set to become a vibrant center of cultural and economic exchange, bridging the gap between Malaysia and Korea while offering unique opportunities for global engagement.
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