South Korean investors flock to Vietnam

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Lotta Mart VietnamSouth Korean firms have become important investors in Vietnam, new data from the country’s investment board shows.

Samsung Electronics is currently building up Vietnam as one of its largest offshore production bases, churning out billions of dollars worth of its popular Galaxy series of smartphones and tablets, accounting for more than 10 per cent of Vietnam’s total exports.

But Samsung is not the only one. Lotte, E-Mart, CJ, Kumho Asiana, Posco, Hyundai, C&N Vina and Doosan are the other big names.

Kumho has built Kumho Asiana Plaza for $255 million in Ho Chi Minh City, Kumho Tires makes tires at a $200 million factory in Binh Duong province and plans to pour $100 million more into it this year. Kumho Asiana Airlines has been opening more air routes to Vietnam, and the group also owns Kumho Asiana Plaza in Hanoi while considering building a power plant in Vietnam.

Doosan is well known for Doosan Vina in Quang Ngai province which makes boilers for thermopower plants and some other equipment. C&N Vina plans to set up a 1,600-hectare “South Korea village” in Quang Nam province.

Lotte now runs seven cinema complexes in Vietnam and has developed of the 65-storey Lotte tower in Hanoi. It also bought a hotel in Ho Chi Minh City and renamed it as Lotte Legend Hotel, as well as another one in Da Nang. The group also plans to pour money into the retail sector, where it would have to compete South Korea’s E-Mart.

South Korea has invested over $30 billion in Vietnam so far, just second to Japan with $33 billion.

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Reading Time: 1 minute

South Korean firms have become important investors in Vietnam, new data from the country’s investment board shows.

Reading Time: 1 minute

Lotta Mart VietnamSouth Korean firms have become important investors in Vietnam, new data from the country’s investment board shows.

Samsung Electronics is currently building up Vietnam as one of its largest offshore production bases, churning out billions of dollars worth of its popular Galaxy series of smartphones and tablets, accounting for more than 10 per cent of Vietnam’s total exports.

But Samsung is not the only one. Lotte, E-Mart, CJ, Kumho Asiana, Posco, Hyundai, C&N Vina and Doosan are the other big names.

Kumho has built Kumho Asiana Plaza for $255 million in Ho Chi Minh City, Kumho Tires makes tires at a $200 million factory in Binh Duong province and plans to pour $100 million more into it this year. Kumho Asiana Airlines has been opening more air routes to Vietnam, and the group also owns Kumho Asiana Plaza in Hanoi while considering building a power plant in Vietnam.

Doosan is well known for Doosan Vina in Quang Ngai province which makes boilers for thermopower plants and some other equipment. C&N Vina plans to set up a 1,600-hectare “South Korea village” in Quang Nam province.

Lotte now runs seven cinema complexes in Vietnam and has developed of the 65-storey Lotte tower in Hanoi. It also bought a hotel in Ho Chi Minh City and renamed it as Lotte Legend Hotel, as well as another one in Da Nang. The group also plans to pour money into the retail sector, where it would have to compete South Korea’s E-Mart.

South Korea has invested over $30 billion in Vietnam so far, just second to Japan with $33 billion.

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