Korean newspaper highlights Vietnam’s economic potential

(VOVWORLD) - Korea JoongAng Daily of the Republic of Korea (RoK) has recently run an article highlighting Vietnam’s economic potential. 

According to the article, the Vietnamese economy shows potential to grow even faster than the RoK’s thanks to its fortunate timing. The article said Vietnam could increase its role as the hub of Korean production that can also help Vietnam in developing its own technologies. 

Major Korean groups such as Samsung, LG, Hyosung and Kumho, are investing in big production facilities in Vietnam. Hanwha Group made an equity investment of 400 million USD in Vingroup, and SK Group invested 470 million USD in Masan Group in their bets to take advantage of Vietnam’s growth that stands at 6-7 percent annually. Vietnam is now one of the RoK’s main investment destinations as the flow of Korean capital into the Southeast Asian country reached 50 billion USD as of 2017.