Mr Lee Seo Jin (left) and Mr Warawut Paiboonvisarutkul display signed Memorandums of Understanding.

Lao, Korean companies ink deal on cable car project

H&B Development Co., Ltd. from the Republic of Korea and Laos’ Multiplex Co., Ltd. on Saturday signed a Memorandum of Understanding (MOU) on the establishment of a joint business venture named STO LAO.
The MOU was signed by the Chief Executive Officer of H&B Development Co., Ltd., Mr Lee Seo Jin, and the Director of Multiplex Co., Ltd., Mr Warawut Paiboonvisarutkul.
STO LAO will operate a cable car in Laos over a distance of 1.400km and carry out associated works.
The two executives said they greatly appreciated the trust and cooperation involved in achieving their goal and their development objectives.
Speaking at the signing ceremony, Mr Lee Seo Jin said Laos was well suited for the operation of a cable car, which would offer benefits in the fields of transport, logistics and tourism.
Mr Warawut said the signing of the MOU was the first crucial step in collaboration between two companies and would support the future development of Laos.

By Times Reporters
(Latest Update July 5, 2022)