GG56 Korea Limited, a South Korean company is investing a whopping USD 1 billion (approximately RM4.37 billion) to develop Malaysia’s first Korean Culture (K-Culture) Town in Forest City, Johor Bahru.
The announcement was made on Forest City 森林城市‘s Facebook page, where the management said a memorandum of agreement with GG56 Korea Limited has been signed. This project will be led by Forest City’s main developer, Country Garden Pacificview Sdn Bhd (CGPV), according to a report.
What can we expect from the 1st K-Culture town?
The development will also include the construction of a K-content production studio, an international cultural area, and world-class housing development.
“This memorandum of agreement is an important achievement in the continuous development of Forest City, which will strengthen its position as a center of innovation, culture, and sustainable growth at the global level,” said the executive director of CCPV, Datuk Md Othman Yusof.
CEO and co-founder of GG56 Korea, Kim Young Kun, was also present at the signing ceremony which took place yesterday (August 21).
Kim stated that this deal provides an opportunity for his company to create something extraordinary in Forest City. The project is also expected to make Forest City a premier destination for Korean culture enthusiasts around the world.
“Forest City presented unique opportunities that strategically fulfilled our need to create extraordinary Korean-cultured developments,” Kim said.
At the time of writing (August 22), no date of completion has been provided.
According to GG65 Korean Ltd’s official website, the firm focuses on high-impact projects in areas such as healthcare, entertainment, technology, and real estate.
This will be a good and exciting piece of news for Korean culture lovers! To our friends in JB, what do you think of this?
Also read: South Korean Actor Visits Sarawak, Gives Gula Apong Ice Cream a Try & Immediately Loves it
