At PlanM headquarters in Songdo, Incheon, PlanM CEO Lee Min-gyu (right) and Peter KM, chairman of ECC (Eastern Contractors Corporation) (left), are shaking hands./PlanM
[Metro Newspaper] Modular construction specialist PlanM (PLANM) has signed a strategic business agreement (MOU) with U.S. construction company ECC (Eastern Contractors Corporation) and will fully accelerate its modular business in the U.S. market.
According to PlanM on the 13th, the two companies recently established a structure to jointly discover and carry out modular construction projects in the U.S. through the agreement, and decided to jointly implement an end-to-end business model encompassing the entire process from design to manufacturing and construction.
Under this agreement, PlanM will be responsible for core processes such as module design, manufacturing, quality control, and transportation, while ECC will handle local permitting, foundation work, and construction/installation, maximizing business efficiency by dividing roles.
To this end, PlanM is promoting the establishment of a local corporation that will be responsible for design and module supply in the U.S. It is gradually building the financial, permitting, and operational systems necessary to carry out projects.
PlanM CEO Lee Min-gyu said, "This MOU is a strategic move to go beyond simple cooperation, strengthen project execution capabilities, and build a sustainable business platform in the U.S. market," adding, "It will serve as an opportunity to expand into the North American market in the future."
Currently, the two companies are concretizing their cooperation model through the Indiana modular hotel project. Based on this, they are concretizing the business by jointly discovering and expanding additional projects in the North American market in the future.
