Korean investment firm GG56 Korea Ltd has committed a significant investment of US$1 billion (RM4.37 billion) in Forest City, Johor Bahru, to establish Malaysia’s first Korean Culture (K-Culture) Town. The announcement was made by the master developer of Forest City, Country Garden Pacificview Sdn Bhd (CGPV), following the signing of a memorandum of agreement (MoA) between the two companies.
A Landmark Project in Forest City
The K-Culture Town project will be a multifaceted development featuring K-content production studios, an international cultural district, and a world-class residential area. This ambitious venture aims to transform Forest City into a global hub for Korean culture, innovation, and sustainable urban living.
Othman Yusof, Executive Director of CGPV, highlighted the significance of the MoA, stating, “This MoA is not just a formal agreement; it reflects our shared vision for Forest City. We are thrilled to collaborate with GG56 Korea to bring these transformative projects to life. Together, we will build a city that stands as a testament to innovation, culture, and sustainable development.”
GG56 Korea’s Vision for Forest City
GG56 Korea, an investment firm with a focus on high-impact projects across various sectors, including healthcare, entertainment, technology, and real estate, sees this collaboration as an opportunity to create a unique cultural and economic hub in Malaysia. Kim Young Kun, CEO and co-founder of GG56 Korea, expressed his excitement about the project, stating, “Through our collaboration with CGPV, we aim to contribute to the city’s growth and establish it as a leading global destination.”
Forest City: A Visionary Urban Development
Located in Johor Bahru, Forest City is an innovative urban project designed to be a smart, green, and sustainable city. It seamlessly integrates residential, commercial, and industrial spaces, supported by cutting-edge technology and infrastructure. The development of K-Culture Town is set to further enhance Forest City’s appeal as an international destination for culture, business, and lifestyle.
Conclusion
The partnership between GG56 Korea Ltd and Country Garden Pacificview marks a significant step forward in the ongoing development of Forest City. The creation of Malaysia’s first K-Culture Town not only underscores Forest City’s commitment to innovation and sustainability but also positions it as a key player in the global cultural and economic landscape. With this investment, Forest City is poised to become a leading destination for Korean culture and a model for future urban developments.
