SK Group leaders last week met with Prime Minister Nguyen Xuan Phuc in Hanoi There is little doubt that Vietnam is a vibrant country with a thriving economy, and definitely one of the most attractive investment destinations in the world for South Korean investors. A recent headline titled “Now, I am Mr Vietnam” refers to the SK Group chairman’s keen interest in Vietnam, given that SK Group last month spent $1 billion in exchange for 6.15 per cent of Vietnamese conglomerate Vingroup. Beyond this case, we believe that this headline very well sums up how South Korean companies view Vietnam nowadays. In 2018, South Korea ranked second among 112 countries and territories that had invested in Vietnam, with $7.2 billion, or 20.3 per cent of the total inbound investment. At the same time, South Korea was the second-largest trade partner of Vietnam, with total bilateral trade reaching $65.7 billion, accounting for around 14 per cent of Vietnam’s total import-export value. Looking back, over the period of Vietnam’s 30 years of attracting foreign investment, South Korea took the lead with $62.5 billion, or 18.3 per cent of the total investment in the country. Indeed, Vietnam stands at the centre of South Korea’s… Read full this story
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