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Organization
Hospitality NetKUMHO INDUSTRIAL CO.,LTD.
http://www.kumhoenc.com
Korea, Democratic People's Republic
Kumho Asiana Goes into Partnership with InterContinental Hotels Group Regarding Kumho Asiana Plaza Project in Vietnam
Kumho & IHG signed Management Agreement on Sept. 29th
Friday, 29 September 2006

Kumho Asiana Plaza Saigon Co. Ltd., which is the subsidiary of Kumho Industrial Co. Ltd. made a hotel management agreement with the InterContinental Hotels Group in Ho Chi Minh City, Vietnam, on September 29th.

The InterContinental Hotels Group has high reputation for their global brand image and their management skills. By this contract, the InterContinental Hotels Group will run the hotel and residential management business inside the Asiana Plaza on behalf of Kumho Asiana Plaza Saigon Co.,Ltd.

Kumho Industrial Co.,Ltd. which will take the construction works of Kumho Asiana Plaza is one of the top 10 premium construction companies in Korea with phenomenal records of success in the past 40 years. The company’s success is attributable to its technological competency in the airport industry, logistics infrastructure and SOC construction projects, KIDEA process-leveraging sewage treatment solutions and over 30 years of know-how in housing construction. Kumho Industrial Co.,Ltd. is an affiliate of Kumho Asiana Group.

Lee Yon Goo, executive vice president, Kumho Industrial Co. said that Kumho Industrial Co. will settle down strongly to Vietnamese business plans starting from this Kumho Asiana Plaza project. Our Vietnamese business plans are to develop and construct expressway, environment facilities, infrastructure, town development, etc. in Vietnam. And he also confirmed that Kumho Industrial Co. Ltd. will play a major role in upgrading Vietnam into a unique culture and art accorded business nation.

Meanwhile, Kumho Asiana Plaza is a premium standard building complex with more than 300 hotel rooms, 270 residential apartments for long time guests, intelligent offices, shopping malls, etc. The construction is scheduled to begin on October 25th , 2006.

About Kumho Industrial Co.,Ltd.
Since its incorporation in 1967, Kumho Industrial Co.(Kumho Engineering & Construction : CEO, Shin Hoon) has grown to be one of the top 10 engineering and construction services providers in Korea in the past 40 years and remained committed to delivery of premium services across the entire spectrum of construction industry verticals including apartment, civil, architect, SOC, plant and environment facility construction.

Kumho Industrial has exercised its leadership in a variety of SOC projects including City Air Terminal, ASEM Convention Center, Incheon International Airport, New Gwangju City Hall, Section 8 of Daejeon-Jinju Highway and Chonan-Nonsan Highway in the meanwhile and received the 1st Jang, Youngsil Award in March, 2002 for the innovative KIDEA process, homegrown sewage treatment plant construction technology. In addition, Kumho Industrial was accredited with the Special Category Award of the 1st Korea Remodeling Grand Prix and the Korea Architectural Culture Grand Prix in 2004 in recognition of its industry-leading technology solutions.

Kumho Industrial launched its proprietary apartment brand “Uwoolim (It means Harmony)” that symbolized the harmony between us and neighbors, mother nature and state-of-the-art construction technologies in May 2003. “Uwoolim” is one of the premier apartment brands in Korea, leading the housing market trend in Korea with its upscale brand image, environment-friendly design and focus on harmony with neighboring environment.

Kumho Industrial is also one of the pioneering advocates of ethical management in Korea and selected as one of the top 10 ethical companies by FKI (Federation of Korea Industries) in 2004 and accredited with the Korea Ethical Management Grand Award in 2005. Under its extensive outreach programs divided into social engagement initiatives, culture & art promotion sponsorships and environmental preservation campaigns, Kumho Industrial is engaged in more than 700 volunteer service activities every year and more than willing to extend support for the less fortunate.

Kumho Industrial has been and will remain dedicated to identifying stable business models, maximizing profitability, reinforcing soundness of its financials and investment in human resource development and upgrading business processes to return more value to our community as the sponsor of extensive outreach programs funded by the industry-best revenue stream.

Kumho Industrial Co.,Ltd. is an affiliate of Kumho Asiana Group.