Kuwait’s visiting Minister of State for Housing Affairs Yasser Abul on Thursday expressed his Ministry’s eagerness to tap South Korean expertise in providing high-quality housing services to citizenry.
“The Ministry of Housing is earnest in solving Kuwait’s housing problems and in expanding cooperation with South Korea in this regard,” Abul said at the Kuwait-South Korean housing and new cities development conference, held in the South Korean city of Jeonju in the presence of a large number of Korean construction, housing and engineering companies.
The minister added that “Kuwait is now shifting focus from building housing units to integrated residential cities.” He pointed out that Kuwait has extensive and deeply-rooted expertise in construction projects.
For his part, Director General of the Korean Land and Housing Corporation Lee Jeong Wook stated that lack of finance has been the main obstruction to mega housing projects particularly the establishment of new integrated cities.
He suggested that the onus is on the government to render public-private sector partnership in housing projects a real success.
The government has to be the main player in the partnership with the private sector to help set up new cities in an effective, profitable and sustainable way, Wook said.
He shed lights on the South Korean housing expertise since 1960s till now. The Kuwaiti delegation discussed also with the Korean officials and investors beefing up cooperation in building smart cities in Kuwait.
Minister Abul arrived in South Korea on Monday on a five-day official visit to get first-hand experience of South Korea in establishing and managing smart, sustainable and integrated cities, designed for optimum energy rationing and high-end housing services.
His delegation includes representatives of the Public Authority for Housing Welfare, the Supreme Planning Council, the Kuwait Fund for Arab Economic Development and the Kuwait Direct Investment Promotion Authority.
In 2014, Kuwait and South Korea signed a memorandum of understanding to exchange expertise on infrastructure and transportation. In 2015, the two countries also signed an agreement on cities’ development.