FILE PHOTO: South Korean President Yoon Suk Yeol speaks during a joint press conference with French President Emmanuel Macron (not pictured) at Elysee Palace in Paris, France June 20, 2023. Christophe Petit Tesson/Pool via REUTERS/File Photo
SEOUL: Accompanying South Korean President Yoon Suk Yeol on his state visit to Vietnam as part of the presidential delegation, South Korean companies are ramping up their business ties in the South-East Asian country.
In a banquet inviting his largest economic delegation last Thursday, Yoon urged the business leaders to take the lead to explore new business opportunities with Vietnam, which is South Korea’s third-largest trading partner.
“New opportunities are being created for South Korea, which has stronger ties with Vietnam than other countries,” Yoon said in his opening speech at the banquet.
“The business environment is harsh amid the global economy slowing down, the supply chain disturbed and with energy and climate crisis.
“To overcome the difficulties, (South Korean companies) should be able to find (opportunities) in Vietnam which is at the centre of renewing global supply chain, and has a rising consumer market.”
Industry leaders including the top four conglomerate chiefs – Samsung Electronics chairman Lee Jae-yong, SK Group chairman Chey Tae-won, Hyundai Motor Group chairman Chung Euisun and LG Group chairman Koo Kwang-mo – attended the event on the first day of the three-day state visit.
Daewoo Construction and Engineering chairman Jung Won-ju, who doubles as chairman of Herald Corp, also attended the business roundtable meeting, participating as a member of the presidential delegation.
With Daewoo E&C working on the Starlake City project in Hanoi, Jung met with a number of key officials of the Vietnamese government and discussed collaboration opportunities.
Starlake City is one of the largest urban redevelopment projects Daewoo has undertaken, involving luxury residential, commercial and administrative centres around the West Lake in the country’s capital. — The Korea Herald/ANN
