Hanlim Architecture Group Chairman Park Jin-sun (second from left) and Innovative Construction Company Chairman Shriram Mane (second from right) pose for a photo after signing an agreement on Tuesday. (Herald Business)
Hanlim Architecture Group, Korea’s comprehensive real estate service company, said Friday that its Indian unit, Hanlim India, inked a partnership deal with India's construction and management company Innovative Construction, as part of its plans to secure a foothold in the country’s burgeoning real estate industry.
The agreement was signed earlier this week during an eight-day business trip by Hanlim executives to India’s major cities, including Mumbai and New Delhi.
During the trip, officials from Hanlim Architecture Group, including its Chairman Park Jin-sun, conducted field research to establish a comprehensive real estate service system in the country encompassing architectural design, construction, supervision and marketing.
“India, a country with a population of 1.4 billion people, has witnessed escalating demand for advanced urban infrastructure with the active economic participation of its youth demographics and middle-class segments. In light of this, Korea’s architectural expertise will play an important role in diverse infrastructure development projects in urban areas,” Park said.
Under the partnership, Hanlim’s Indian arm will collaborate with Innovative Construction to build urban infrastructure by leveraging its advanced construction skills.
Hanlim India, founded this year, has been involved in diverse construction projects, building manufacturing plants for a number of Korean conglomerates, including Samsung Electronics and Hyundai Motor Group, among others.
It will also seek to help Korean firms enter the Indian market by overseeing the entire construction management process including land acquisition, planning, design and construction.
Additionally, Hanlim Architecture Group clinched a partnership deal with India’s leading food and business franchise, Cafe Peter, which currently runs restaurants in major Indian cities, to also tap into the local food market and to facilitate the expansion of Korean food businesses overseas.
Hanlim has been tapping into other Asian countries this year as well. In August, Hanlim established a joint venture with Cambodia's Saisons Brother Holding Corp. to help Korea’s leading convenience store operator E-mart 24 launch its first outlet in Cambodia’s capital, Phnom Penh. The store is expected to open by the first half of 2024.
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