Hyundai HT Accelerates Smart Home Market Expansion in Northern Vietnam...Strengthens Cooperation with HANDICO and Others

Strategic MOU Signed with HANDICO, Hanoi’s State-Owned Urban Development and Public Housing Provider

Business Agreements Also Reached with Two Local Real Estate Developers... Expansion Expected in Northern Vietnam’s Smart Home Market

Eekoo Lee, CEO of Hyundai HT (center left), is posing for a commemorative photo after signing a strategic business agreement with officials from HANDICO, a state-owned enterprise under Hanoi city.

Hyundai HT Co., Ltd. (hereinafter "Hyundai HT"), a company specializing in smart homes, announced that it has signed a series of strategic cooperation agreements and memoranda of understanding (MOUs) with major local real estate developers in Hanoi, Vietnam, to accelerate its efforts to penetrate the smart home market in northern Vietnam.

This round of agreements was initiated to strengthen Hyundai HT's smart home business base in northern Vietnam and to establish a system for expanded product supply in connection with local development projects. Based on its partnership with local company StarX Technology (hereinafter "StarX"), Hyundai HT plans to expand the supply of smart home solutions to large-scale real estate development projects in the Hanoi area and to further broaden its business opportunities in the northern market.

First, Hyundai HT has pledged close and strategic cooperation with HANDICO (Hanoi Housing Development and Investment Corporation), a state-owned company under the authority of Hanoi City responsible for urban development and public housing supply, to advance the smart home business.

Under this agreement, Hyundai HT will supply smart home solutions, related technologies, and products, while StarX will handle distribution, installation, and technical support in Hanoi and the northern region. HANDICO will employ Hyundai HT's smart home systems in pilot homes and model houses to verify usability and performance, and will give priority consideration to adopting the solutions in its future development projects.

Hyundai HT has also signed business cooperation agreements for smart home business with local real estate developers Nam Hong Group and Van Xuan. Nam Hong Group agreed to consider the preferential adoption of Hyundai HT's smart home solutions in its ongoing residential and urban development projects. With Van Xuan, the cooperation will continue by jointly reviewing the application of projects where Hyundai HT's Vietnam partner StarX was responsible for construction and technical support.

The rapid establishment of a close collaborative network by Hyundai HT with leading local real estate developers appears to be a strategic move aimed at more than simply opening new sales channels; it signals a determined effort to lead the rapidly advancing proptech market in Vietnam and to set the technological standards for "K-Smart Home."

Hyundai HT expects that, through these partnerships, the supply of its smart home solutions will expand in earnest, especially for major development projects across northern Vietnam, and that its local cooperation network will become even tighter. Additionally, the company plans to strengthen its capability to deliver customized smart home solutions tailored to local demand and development environments, thereby continuously enhancing its competitiveness throughout the Southeast Asian market.

Lee Geungu, CEO of Hyundai HT, stated, "This partnership is highly significant not only because it expands our product supply but also because it enables us to apply Hyundai HT's smart home technology to real projects, thus laying the foundation for expanding our business models and proving our technological competitiveness."

He added, "Going forward, we will continue to expand smart home business opportunities not only in major Southeast Asian areas but also in various other countries, while accelerating the spread of Hyundai HT's smart home technologies to further speed up our entry into the global market."

This content was produced with the assistance of AI translation services.