S Korea to support in heritage reconstruction

Kathmandu, Sept. 6

South Korea has agreed to support Nepal in the reconstruction of the ancient settlements in the Kathmandu Valley and development of smart cities.

National Reconstruction Authority (NRA) and Kathmandu Valley Development Authority (KVDA), and Seoul Housing and Community Corporation (SHCC) of Korea signed a Memorandum of Understanding (MoU) on Friday to reconstruct traditional settlements in Sankhu, Bungamati and Khokana and create smart cities around those areas.

As per the MoU, in the first phase, the SHCC will provide technical support to create master plan for the reconstruction and development of Sankhu, Bungmati and Khokana and prepare Detail Project Report (DPR) of various projects around these settlements.

Investment to implement the project will be mobilised through the Korean government and private sector on the basis of the project proposal, said the NRA.

The SHCC will also extend its support to the institutional capacity building of the NRA and KVDA on the development of smart cities.

Chief Executive Officer of the NRA Sushil  Gywali said that the MoU would be a milestone in the preservation of the traditional heritage settlements and new cities development.

SHCC CEO Si Young Kim said that his organisation was happy to share its experience and knowledge of urban reconstruction and development.

Navaraj Pyakurel, Project Director at the NRA's Central Project Implementation Unit (Housing), and In-Go Kang of SHCC signed on the MoU on behalf of their respective organisations.

SHCC is an institution established under the Seoul Metropolitan City to develop new cities in Seoul and construct housing projects.

Published in The Rising Nepal daily on 7 September 2019.