Major Korean corporations place their future development in Vietnam

Vietnam's success is also the success of Korean enterprises.

On the afternoon of June 23, Prime Minister Pham Minh Chinh met with leaders of major Korean associations and enterprises. These are members of the delegation of 205 major enterprises accompanying Korean President Yoon Suk Yeol on his official visit to Vietnam, including the chairmen of leading corporations such as Samsung Electronics, SK Group, Hyundai Motor Group, LG Group...

At the meeting, the chairmen of many large Korean corporations expressed their view that Vietnam is a leading production base.

Leaders of major Korean corporations at the meeting

Speaking to Prime Minister Pham Minh Chinh at the meeting, Mr. Lee Jae-yong, Executive Chairman of Samsung Group, said that the company has invested 18 billion USD in Vietnam. Samsung and Korean enterprises are honored to accompany Vietnam's development; Vietnam's success is the success of Korean enterprises. The Executive Chairman of Samsung Group pledged to continue accompanying Vietnam.

Mr. Lee Jae-yong, Executive Chairman of Samsung Group

Chairman of Hyosung Group (Korea's leading corporation in the production of electric transformers - PV), Mr. Cho Hyun Joon, said that the corporation has invested more than 20 years in Vietnam with a total capital of about 20,000 billion won (about 3.5 billion USD) and currently has about more than 9,000 employees.

"Hyosung considers Vietnam a strategic and key market; in the coming time, the group will continue to expand its scale and aim for sustainable development in Vietnam, especially in high-tech fields; it plans to continue recruiting 10,000 more employees in Vietnam," said Mr. Cho Hyun Joon.

Hyosung Group Chairman Cho Hyun Joon

Chairman of Hyosung Group commented that Korea's investment cooperation in Vietnam is a model that no other country has. "I always believe that Vietnam's development will go hand in hand with Korea's development. We want to contribute to the development process and want to place the group's future in Vietnam for the next 100 years," Mr. Cho Hyun Joon emphasized.

LG Group Chairman Koo Kwang Mo also affirmed that the group has chosen Vietnam as a large-scale production base. Since investing in Vietnam in 1995, the company has invested in many fields. The two sides have many cooperation projects that promote their values ​​and advantages. The Vietnamese government also supports with policies to promote key industries.

LG Group Chairman Koo Kwang Mo

Meanwhile, SK Group Chairman Chey Tae-won said that Vietnam is a market with promising growth potential and the group is continuing to promote expansion in Vietnam, for example aiming for a $1.3 billion investment in renewable energy.

Mr. Euisun Chung, Chairman of Hyundai Group, shared the group's desire to contribute to the transportation of Vietnamese people when the group already has 2 factories in Vietnam. In addition, Mr. Euisun Chung said that in the near future, the group will switch to producing electric vehicles, hydrogen batteries and applying new technology to cars in Vietnam.

Encourage strategic and sustainable investment

Prime Minister Pham Minh Chinh highly appreciated and thanked Korean enterprises for their frank and sincere sharing about the business situation in Vietnam and their commitment to invest in Vietnam in new fields.

Prime Minister Pham Minh Chinh speaks at the meeting

"This is a clear demonstration of the companionship, trust, understanding and sharing of Korean enterprises with Vietnam in the spirit of harmonious benefits, shared risks, and determination to overcome difficulties for development," the Prime Minister affirmed.

Sharing that 30 years ago, it was impossible to imagine that the relationship between the two countries would achieve the results it has today, the Prime Minister hopes that in the coming time, Vietnamese and Korean enterprises will "grow up" together with the development of the two countries; economic, trade and investment cooperation will have more breakthroughs in all aspects, achieving results 3-4 times higher than those achieved.

"Vietnam welcomes the active participation of foreign investors, especially Korean enterprises, especially strategic and sustainable investments," said the Prime Minister.

Prime Minister Pham Minh Chinh and representatives of business associations and large corporations of Korea

In particular, Prime Minister Pham Minh Chinh hopes that Korean enterprises will increase investment in the fields of cultural and entertainment industries. These are also areas in which Korea has strengths and this cooperation is complementary and mutually beneficial.

The Prime Minister once again affirmed that the Vietnamese Government always listens to and accompanies the Korean business community to improve the investment and business environment and promptly resolve difficulties and problems of businesses.

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