Kang Ho-in, minister of land, infrastructure and transport, is set to sign a memorandum of understanding with his counterpart from Sri Lanka, Patali Champika Ranawaka, at a Seoul hotel later in the day, according to the ministry.
The deal calls for, among other things, South Korea and Sri Lanka to primarily cooperate on projects to develop a science and technology based city in Malabe on the outskirts of Colombo while pursuing a housing development project near an airport.
The move is part of Sri Lanka’s projects worth US$63.2 billion to develop nine new zones in Colombo and its adjacent areas by 2030.
Sri Lankan officials also plan to hold a meeting with South Korean builders on the country’s development projects. (Colombo Gazette)