Under the contract, InterContinental Hotel will manage the business operation of the Asiana Plaza – an international-standard complex of hotel and apartments.

Construction of the Asiana Plaza which has a 300-room hotel, 270 apartments for rent, buildings, offices for lease and shops will start on October 25.

Lee Yon Goo, deputy executive manager of the Kumho Industry Ltd, Co., said the company has worked out a major plan for investment in Vietnam beginning with the Asiana Plaza project. The company also aims to engage in building highways, environmental utility, infrastructure and urban development in Vietnam.