The Korea Land and Housing Corporation(LH) will actively pursue the export of Korean-style smart new towns to Iran.
 
LH announced on Wednesday that it adopted earlier on Tuesday a memorandum of understanding with Iran’s New Town Development Corporation(NTDC) on cooperating toward the development of new towns.
 
Under the deal, LH and NTDC will share policies regarding smart towns as well as the development of housing, infrastructure and industrial complexes. The deal also calls for cooperation in discovering business projects, designing and operating businesses. 

Iran has been pursuing the construction of two million housing units since initiating its Mehr Housing Scheme in 2007. However, it is in urgent need of providing housing through the construction of new towns as it has been short of roughly 800-thousand homes every year.