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
S korea population
North Korea is experiencing its worst drought in over a century, official media reported Friday, days after the World Food Programme expressed "very serious concerns" about the situation in the country. Farmers are dwarfed against a hill as they work in a corn field in South Hwanghae, North Korea. Photo: AP The isolated, impoverished North -- which is under several sets of sanctions over its nuclear weapon and ballistic missile programmes -- has long struggled to feed itself, and suffers chronic food shortages. It recorded its worst harvest for a decade last year, according to the United Nations, down by 500,000 tonnes as natural disasters combined with its lack of arable land and inefficient agriculture to hit production. In the year to Wednesday the North received just 56.3 millimetres of rain or snow, the Rodong Sinmun newspaper reported Friday, the lowest since 1917. Water was running out in the country's lakes and reservoirs, said the paper, the official mouthpiece of … [Read more...] about North Korea seeing worst drought in a century: state media
The Hanoitimes - South Korea remained Vietnam’s top investor, posting annual registered capital of FDI in range of US$7 – US$9 billion over the last five years. South Korea’s SK Group to invest US$1 billion in Vietnam’s Vingroup: Bloomberg South Korea’s unicorn Woowa Brothers acquires Vietnam’s food delivery Vietnammm South Korea’s major conglomerates seek investment expansion in Vietnam South Korea’s leading corporations tap into Vietnam’s finance - banking sector Vietnam – South Korea relations are built on high level of mutual trust, and the two countries share similarities in culture and history, according to South Korea Ambassador to Vietnam Kim Do Hyon. Overview of the conference. Source: Ngoc Thuy. “Being the host of the second North Korea – US summit, Vietnam plays a key role facilitating cooperation between the North and the South,” Kim said at the eighth International … [Read more...] about Vietnam – South Korea relations built on high level of mutual trust: Amb.
The Hanoitimes - Globalization has been good for Vietnam. Its GDP per person grew from about US$1,500 in 1990 to about US$6,500 today, but unlike in some fast growing economies, its new prosperity has been shared. In 2017, Vietnam's trade as a percentage of GDP reached over 200%, the highest level for any country with over 50 million people in the World Bank's data, which goes back to 1960, stated the World Economic Forum (WEF). Of the world's twenty most populous countries, it blows away number two Thailand at 122%. The measure is calculated by adding the value of exports and imports then dividing the figure by GDP. Countries with high measures are typically rich and small. Hong Kong, Singapore and Luxembourg all have rates over 300%. Companies in these countries make products for export because the domestic market is too small consume all of their output, for which Vietnam is an outlier. Vietnam's exceptionally globalized economy is a result of its focus on exports … [Read more...] about Vietnam tops list of most globalized populous country in modern history: WEF
The protest is the latest challenge to ride-sharing services in South Korea, which has one of the world’s highest smartphone penetration rates, with nearly half its population of about 51 million living in the Seoul metropolitan area. Backlash from taxi drivers and government regulations in Asia’s fourth-biggest economy have hampered new transport services launched by U.S.-based Uber Technologies [UBER.UL] and domestic startups. Protesters wearing red headbands chanted slogans, waved flags and held up placards that read, “Crush the carpooling industry which ignores the taxi industry.” “They will steal our jobs,” said a taxi driver at the rally, referring to the carpooling app. Police estimate about 25,000 taxi drivers took part. On Tuesday, Kakao Mobility, a unit of chat app operator Kakao Corp, started recruiting drivers for its service, after having acquired domestic carpool startup Luxi from Hyundai Motor and other investors in February. Kakao, … [Read more...] about South Korea’s taxi drivers protest against plans for carpool service