Korea’s Kunyoung launches in Sri Lanka, eyes construction

Jan 20, 2016 (LBO) - Kunyoung Engineering and Construction Co launched in Sri Lanka on Tuesday increasing the number of Korean companies taking an interest in the island's growth prospects.

Company officials said they were interested in Megapolis development plans which included the Colombo Port City, and would bid for future contracts.

"The entry of Kunyoung Ceylon symbolises the growing interest of Korean companies in Sri Lanka's potential," Wonsam Chang, the ambassador of the Republic of Korea to Sri Lanka, said at the launch in Colombo. Kunyoung has developed projects in Jordan, Vietnam, UAE, Mongolia and the United States, and adds to Korean companies such as Hyundai and Keangnam that have ventured into Sri Lankan construction.
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Previous projects include the development of an apartment complex of Jincheon Innovation City, highway construction between Sangju and Youngdeok, and construction of Busan New Port nd Kayang Grand Bridge, the construction company said. Kunyoung would bring financing capabilities with Korea's EXIM bank, a company official added.