The partnership will enable the two giants to pursue the green mobility revolution and support South Korean companies doing business in Vietnam.
Vietnamese conglomerate Vingroup and Korea Trade Insurance Corporation (K-Sure) have signed a Memorandum of Understanding (MoU) to cooperate on several projects to strengthen trade relations and investment opportunities between the two giant corporations.
Delegates attend the signing ceremony. Photo: Vingroup |
The signing ceremony of the MoU was held during the Vietnam-Korea Economic Forum 2023.
Under the MoU, K-Sure will support South Korean suppliers and construction and engineering firms by offering guarantee programs to enable the seamless provision of products and services to Vingroup and its subsidiaries.
This support will include products and services such as electric vehicle components, energy storage systems, construction equipment, construction management services, and the supply of components and parts.
K-Sure’s guarantee will allow Korean investors to invest or form joint ventures with Vingroup or its subsidiaries, creating potential long-term business opportunities. At the same time, the two companies will explore joint participation in projects and market development opportunities through K-Sure’s export and guarantee programs.
Speaking at the ceremony, Vice Chairman and CEO of Vingroup Nguyen Viet Quang said: "The partnership between Vingroup and K-Sure will foster trade and investment - two key focus areas for our countries - by accelerating business operations and expanding international production and export markets."
Meanwhile, K-Sure General Director Lee Inho said that the cooperation with Vingroup will strengthen Korea's sectors and increase exports, especially in the green mobility revolution both parties are pursuing. In a broader move, Southeast Asia has significant growth potential and abundant labor and resources, he added.
The partnership with the Vietnamese group is part of the conglomerate's efforts to continuously connect with leading agencies and companies to jointly invest and develop competencies in smart, innovative and sustainable consumer products and services.
Other News
- Vietnam Airlines to partner with Hong Kong International Airport
- Vietnamese, Indian firms team up to bring stem cell technology to Vietnam
- Marriott International to open upscale resort in Vietnam
- Techcombank wins awards for excellence from The Asian Banker
- Vingroup chairman still Vietnam’s wealthiest businessman: Hurun report
- 50 business leaders discuss future of AI at international conference ICISN 2024
- Maersk plans to build Vietnam’s largest deep-water port
- FPT Long Chau forms partnership with IHH Healthcare Singapore
- New agreement enhances Vietnam-Singapore tourism cooperation
- New Oakwood Hospitality location in Quang Ninh
Trending
-
Typhoon Yagi inflicts severe damage to Northern power infrastructure
-
Vietnam news in brief - September 7
-
Hanoi to ensure sufficient food supplies ahead of super typhoon Yagi
-
Vietnamese film wins two awards at Venice Film Festival
-
Pickleball is not to blame, it's the players
-
Colorful Guizhou Airlines chooses Hanoi as its first international destination
-
Green consumption for sustainable development in Hanoi businesses
-
Vietnam seeks further contributions from overseas Vietnamese
-
Patriotism: The tranquil and steady devotion of a lifetime