From the Busan Ilbo

Local companies from Busan are to construct a new major housing area in Ulaanbaatar, capital of Mongolia. According to the companies and Ulaanbaatar, the Mongolian government recently designated Busan-based company B.K.B (President Chung Si Woo) as the first construction company for the project. The staff of the company confirmed that it will participate in the project with other Busan-based companies such as architects and construction companies. The Mongolian government plans to construct the new housing in the Yarmag district of Ulaanbaatar.

As the first metropolitan city in Mongolia, the government has a blueprint to build 30,000 apartments by the year 2020, accommodating 120,000 citizens. A staff member from the city said, “The main purposes of the new development are to prevent unlimited expansion of the capital city, to accommodate the population from foreign countries, to resolve the problem of the lack of business facilities, and to foster IT industrial complexes.”

Here is what Busan looks like by the way. I used to live in this area near Seomyeon.