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 … [Read more...] about South Korea’s supportive M&A plans
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Vietnam seeks more holidaymakers from South Korea
The Hanoitimes - The Vietnam National Administration of Tourism (VNAT) plans to introduce Vietnam’s tourism in the South Korea’s Seoul and Daegu cities. Vietnam seeks more visitors from Taiwan Vietnam seeks more holidaymakers from major Russian cities Vietnam seeks more tourists from major Chinese cities The VNAT has sent invitations to travel agencies, hotels and resorts across the country to participate in a program to promote Vietnamese tourism in South Korea, which is scheduled to take place from June 25 to 30, Hanoimoi newspaper reported. Vietnam seek more holidaymakers from South Korea. According to the VNAT, the number of Korean visitors to Vietnam achieved impressive growth over the last several years and South Korea is considered a potential source market of Vietnam. In 2018, Vietnam welcomed 3.5 million South Korean tourists, a 44% increase from the year earlier. To maintain this growth pace, the VNAT plans to introduce Vietnam’s … [Read more...] about Vietnam seeks more holidaymakers from South Korea
South Korea’s latest big export: Jobless college graduates
Cho Min-kyong boasts an engineering degree from one of South Korea's top universities, a school design award and a near-perfect score in her English proficiency test. But she had all but given up hope of finding a job when all her 10 applications, including one to Hyundai Motor Co, were rejected in 2016. Help came unexpectedly from neighbouring Japan six months later: Cho got job offers from Nissan Motor Co and two other Japanese companies after a job fair hosted by the South Korean government to match the country's skilled labour with overseas employers. "It's not that I wasn't good enough. There are just too many job seekers like me, that's why everyone just fails," said the 27-year-old, who now works in Atsugi, an hour southwest of Tokyo, as a car seat engineer for Nissan. "There are numerous more opportunities outside Korea." Facing an unprecedented job crunch at home, many young South Koreans are now signing up for government-sponsored programs designed to find overseas positions … [Read more...] about South Korea’s latest big export: Jobless college graduates
40 districts suspended from sending workers to South Korea
The Ministry of Labour, Invalids and Social Affairs has suspended 40 districts from sending guest workers to South Korea under the Employment Permit System (EPS Programme) due to the high rate of runaway workers. illustrative image According to the ministry, about 100 districts from 11 provinces and cities have 30% of their workers absconded in South Korea. 40 districts that have more than 60 labourers working illegally in South Korea have been banned from sending workers to South Korea in 2019. Those districts have the highest number of illegal workers staying in South Korea. There are nine districts and cities in Nghe An Province, five districts in Nam Dinh, five districts in Ha Tinh and Hai Duong Province each and two to four districts in Thanh Hoa, Bac Ninh, Quang Binh, Hung Yen and Bac Giang provinces. Depending on the reports from the South Korean government, the ministry will lift or impose the ban in 2020 on districts that cannot reduce the number of absconded workers. In … [Read more...] about 40 districts suspended from sending workers to South Korea
South Korea suspends Vietnamese workers from 40 districts
Workers attend a Korean language test before going to work in South Korea. Photo for illustration. – VNA/VNS Photo Hồng Kiều HÀ NỘI – South Korea has temporarily stopped receiving workers via the Employment Permit System from 40 districts of Việt Nam, according to an announcement by the Ministry of Labour, Invalids and Social Affairs on Saturday. These districts of ten provinces, including Nghệ An, Thanh Hoá and Hà Tĩnh, have at least 60 migrant workers illegally staying in South Korea. The ministry has made a list of 100 districts under consideration to halt the export of labour. The localities are reportedly to have over 30 per cent of workers not returning to Việt Nam after their labour contracts expired. South Korea decided to stop recruiting workers from 40 of 100 listed districts. In 2020, South Korea will maintain the suspension of workers from localities which are unable to reduce the … [Read more...] about South Korea suspends Vietnamese workers from 40 districts