Korea’s Woomi Construction bought 10.26 million (9.5 per cent) shares of Bamboo Capital and 1.72 million (5 per cent) shares of its subsidiary Tracodi on May 16.

After identifying potential co-operation opportunities, Woomi decided to invest directly in both companies, and will assist BCG in developing a diversified portfolio of real estate projects and connecting with Korean partners.

At TCD, it will play the role of a technical consultant, being in charge of technology transfer.

Pham Minh Tuan, deputy general director of BCG, said with Woomi’s vast experience in the field of construction, its partnership with BCG and TCD would be an important step for both companies’ future real estate projects with regard to quality enhancement and meeting international standards.

Woomi is one of the largest companies in residential construction in Korea, providing services such as real estate development, civil and industrial construction and infrastructure design.

BCG is a diverse investment company with interests in agriculture, manufacturing, infrastructure, real estate, and renewable energy.

TCD’s core businesses include construction and infrastructure, quarrying, trading of industrial and agricultural products, and labour export. — VNS