02/082018

DIC GROUP OFFICIALLY LAUNCHED INVESTMENT PROMOTION COMPANY IN SOUTH KOREA

Overview of the launch ceremony of DIC – Korea Company in Seoul (Korea).

Attending the event, there were Mr. Nguyen Vu Tu - Vietnamese Ambassador Extraordinary and Plenipotentiary in Korea, Mr. Nguyen Thien Tuan - Chairman of DIC Corp, Mr. Yu Ki Taek -CEO of GMG Holdings and Management Board of DIC Corp.

Speaking at the event, Mr. Nguyen Thien Tuan- Chairman of DIC Corp emphasized: "DIC Corp's direction is to strengthen cooperation with Korean partners to invest in real estate projects – our strength. At the same time, develop business in services such as infrastructure traffic, logistics, theme parks, tourism, medical treatment etc".

In the context that Vietnam is strongly turning and becoming the most attractive investment destination in Asia, the establishment of DIC – Korea Company is considered to be the implementation of the international investment cooperation strategy of the DIC Group, expanding its business to foreign markets.

Since 2007, DIC Group has established cooperative relations with Korean enterprises, including direct investment (establishing a joint venture between DIC Group and Korean partners) to implement real estate projects and indirect investment (buying shares of DIC Corp). "In the process of cooperation, we appreciate the financial potential, investment management ability, exploitation and professional working style of Korean partners," shared Tuan.

 

Representative of DIC Corp and GMG Holdings signed the decision to establish DIC - Korea Company.

Accordingly, DIC - Korea Company will play the role of promoting investment projects of DIC Group in Korea. Specifically in the first phase, the company will cooperate to invest a 2nd level project of 45ha in Dai Phuoc (Dong Nai province) for investors to continue construction under the approved plan. General Director of GMG Holdings said that this is the first important step of DIC Group into Korean market, creating a favorable business environment for international business.

In addition, DIC – Korea Company will represent DIC Group in the field of real estate for foreigners. In the short term, DIC – Korea Company will focus on researching and setting up sales policies in apartment blocks owned by DIC for sale to foreigners in accordance with Vietnamese law.

Within the framework of the program, the DIC board has exchanged and updated information on many projects calling for investment in the areas of transport infrastructure, urban areas, logistics services, tourism services ... DIC Group together with the list of projects calling for investment are widely interested investors. Accordingly, many high-level discussions and memoranda of understanding have been agreed between leaders of DIC Corp and many Korean partners.

Representatives of DIC Group and Heerim Architects & Planners Company signed the memorandum of understanding.

At the event, DIC - Korea and Heerim Architects & Planners Company signed a memorandum of understanding (MoU) regarding investment cooperation in Thuan Thanh project (Bac Ninh province) and a number of potential projects in the future. Heerim is currently the largest Korean company, ranking second in the world in design in the field of transportation (According to the magazine of World Architecture in 2013). Recently, Heerim was appointed as a special subcontractor for the design of Long Thanh Passenger Terminal (Long Thanh International Airport Project).

After more than 25 years of formal diplomatic relations, relations between Vietnam and Korea have developed strongly and are at the best stage in history. South Korea has been the largest investor in Vietnam with a total investment of $ 59 billion (As of March 20th 2018). South Korean investors are very interested in Vietnam, especially in the context that the South Korean government has developed a new South Korean strategy to increase trade between South Korea and ASEAN.

Mr. Nguyen Vu Tu - Vietnam Ambassador Extraordinary and Plenipotentiary, highly appreciated the investment promotion event of DIC Group.

Speaking at the inauguration of DIC Korea Company, the ambassador stressed: "DIC Corp is a reputable enterprise trusted by the government and local authorities at all levels in Vietnam. DIC has cooperated with many Korean investors and achieved initial success. "The South Korean Ambassador also expressed his hope that Korean businesses would have more cooperative projects with DIC Corp, contributing to the development of FDI projects in Vietnam as well as other forms of business cooperation, trade finance investment in Vietnam and Korea.

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