Business leaders accompanying President Yoon to Vietnam seek new opportunities

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Business leaders accompanying President Yoon to Vietnam seek new opportunities

Published: 22 Jun. 2023, 18:31 Updated: 22 Jun. 2023, 18:31

HD Hyundai CEO Chung Ki-sun, second from left poses with workers at Hyundai Vietnam Shipbuilding in Khanh Hoa, Vietnam, on Wednesday. [HD HYUNDAI]

Business leaders who joined President Yoon Suk Yeol's 205-member delegation to Vietnam are seeking out new business opportunities while inspecting existing ones in the Southeast Asian country.

Chung Ki-sun, CEO of HD Hyundai, visited Hyundai Vietnam Shipbuilding on Wednesday for an on-site inspection.

Chung examined the progress of work and interacted with employees during his visit to Hyundai Vietnam Shipbuilding, which is located in the south-central coastal province of Khanh Hoa, according to the company.

Hyundai Vietnam Shipbuilding represents the first overseas expansion of the Korean shipbuilding industry. Established in 1996 as a joint venture between Hyundai Mipo Dockyard and Vietnam's Shipbuilding Industry, its initial focus was on ship repair and remodeling projects. In the late 2000s, its business shifted into shipbuilding and it has secured a total of 199 orders.

“I will also work hard with pride to ensure the continued prosperity of Hyundai Vietnam Shipbuilding as a prominent success story symbolizing the accomplishments of the Korean shipbuilding industry,” Chung told the employees.

Kakao Mobility CEO Ryu Gung-seon also joined the delegation to share his experience and insight on establishing a mobility platform. He plans to meet with the Vingroup, the country's biggest conglomerate, mobility technology developer Phenikaa, IT solution company FPT and ride-hailing company BeGroup among others.

“Kakao Mobility expects to provide innovative transportation services to tourists coming to both countries by sharing the company’s know-how on building a successful platform,” said Ryu.

“Through continuous cooperation with local platforms and startups, Kakao Mobility will export Korea’s IT and successful experiences."

Kakao Mobility, a leading mobility platform operator that encompasses ride-hailing services as well as bike and electric scooter-sharing services, has been pushing for global expansion since last year. It initiated a ride-hailing service in Guam last year, in partnership with local taxi operator Miki Taxi.

Rsquare’s Lee Johnwoo also accompanied President Yoon on his state visit. Rsquare is a Korean startup specializing in commercial real estate brokerage. It is already doing business in the Southeast Asian region, including in Vietnam.

Rsquare’s Lee vies to expand its clients to include local governments, financial institutions and global corporations during the trip.

"I expect to resolve the asymmetry of information in the real estate market and build a transparent real estate brokerage system [in Vietnam]," Lee said.

President Yoon embarked on his three-day visit to Vietnam on Thursday, accompanied by his largest-ever business delegation.

Heads of Korea's largest conglomerates, including Samsung Electronics Executive Chairman Lee Jae-Yong, SK Inc. Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, and LG Corp Chairman Koo Kwang-mo, will join Yoon for a banquet on Thursday evening in Hanoi.

BY JIN EUN-SOO, SEO JI-EUN [jin.eunsoo@joongang.co.kr]