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Merger of KOLAND, KNHC not to construct general houses

Written: 2001-05-05 00:00:00Updated: 0000-00-00 00:00:00

A ranking official at the Ministry of Construction and Transportation said Friday that the Korea Land Corp. (KOLAND) and Korea National Housing Corp. (KNHC) will merge later this year.

MOCT assistant minister Choo Byung-jik said in a TV program... the merged company will not be involved in general housing projects but rather rental properties and industrial complexes.

The ministry will enact a relevant law and form an ad hoc team to prepare for the merging process, based on a ministry-commissioned study of the consolidation due out soon.

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