205 Business delegation accompanies Pres. Yoon to Vietnam seeking bilateral investment

경제계 '3대 교역국' 베트남에 총출동 투자 협력 보따리 관심

Accompanying the president are more than 200 corporate leaders from Korea, including some big names --like Samsung, SK and Hyundai.
Adding onto the already strong business ties with Vietnam, eyes are on how this trip would yield progress.
Our Lee Rae-hyun explains what to expect.

A business delegation comprised of 2-hundred-five members accompanied President Yoon on his state visit to Vietnam that began Thursday the largest yet under the current administration.
They included Samsung Executive Chairman Lee Jae-yong, Chairman and CEO of SK Group Chey Tae-won, and Hyundai Motor Group Chairman Chung Eui-sun.
Now all eyes are on any investment opportunities the delegation will bring as strengthening bilateral supply chain ties, cooperating in next-generation technology such as ICT, and participating in green energy projects are just some of the areas being considered.
One company that's currently most actively operating in Vietnam is Samsung.
The tech giant established construction and trading corporation offices in Hanoi in 1989 and since then, it has gone on to produce smartphones, network equipment, TVs and batteries in many cities and provinces in Vietnam.
In fact, more than 50 percent of Samsung's smartphones are now manufactured in the country.
SK Group, too, has a strong presence, acquiring a 16-point-3 percent stake in VinCommerce Vietnam's biggest retailer while investing 340 million dollars in Crown X, the consumer retail platform of the country's Masan Group.
In 2017, Hyundai Motor established Hyundai Thanh Cong Manufacturing Vietnam, or HTMV, a joint venture with Thanh Cong Group and built a second HTMV manufacturing plant last year.
Through this, Hyundai reclaimed its number one spot in sales in Vietnam beating out Toyota which had taken over the position last year.
LG moved into Vietnam in 1995 and now owns 12 incorporated firms in the country accounting for 3 percent of Vietnam's GDP.
Now, the construction and cosmetic industries have begun seeking more opportunities in Vietnam.
Daewoo E&C is planning to sign MOUs with Vietnamese companies to further its business reach.separate from the planned Korean-style city project called Starlake City.
And Kolmar Korea, a pharmaceutical preparation manufacturing company, plans to expand its business into cosmetics in Vietnam where it currently sells health supplements.
Meanwhile, South Korea's largest trade surplus was with Vietnam last year according to the trade ministry recording over 34-point-2 billion dollars.
This was the first time Vietnam earned this title following the expansion of bilateral investment in 2022, celebrating 30 years of South Korea-Vietnam diplomatic relations.
Lee Rae-hyun, Arirang News.

#SouthKorea #Vietnam #Business #Investment #대한민국 #베트남 #투자 #협력 #Arirang_News #아리랑뉴스

📣 Facebook :   / arirangtvnews  
📣 Twitter :   / arirangtvnews  
📣 Homepage : https://v2.arirang.com/

2023-06-22, 18:00 (KST)