Financial Services Commission Chairman Lee Eog-weon, right, talks with Korean conglomerate leaders during the state dinner for President Lee Jae Myung in Hanoi, Vietnam, Wednesday. From left are Samsung Electronics Executive Chairman Lee Jae-yong, Lotte Group Chairman Shin Dong-bin and SK Group Chairman Chey Tae-won. Yonhap
Business leaders from Korea and Vietnam are set to sign more than 70 memorandums of understanding (MOUs) in Hanoi, Thursday, during President Lee Jae Myung's state visit to the Southeast Asian country.
During a forum scheduled to be held on the sidelines of the president’s visit, businesses from the two countries are expected to agree to expand partnerships in artificial intelligence (AI), infrastructure, energy, consumer goods and financial services.
With the president in attendance, the forum will also address the establishment of ecosystems for AI and power industries, as well as the training of scientists and engineers for advanced sectors, through presentations by representatives from Samsung Electronics, SK Innovation, the Korea Institute of Science and Technology and the Korea Institute for International Economic Policy.
Participants will include SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, as well as Samsung Electronics Executive Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo and more than 500 business leaders and government officials from both countries.
After skipping the president’s state visit to India earlier this week, Chey joined the business delegation to Vietnam. Hyundai Motor Company President Sung Kim attended on behalf of Hyundai Motor Group Executive Chair Chung Euisun, who joined the India trip.
A day earlier, 10 Korean conglomerate leaders also attended a state dinner for the president.
The Korean president is expected to urge forum participants to strengthen cooperation to navigate an uncertain global business environment and support growth in both countries, citing bilateral trade and investment.
During his meeting the previous day with To Lam, general secretary of the Communist Party of Vietnam, the two leaders reviewed bilateral trade and discussed cooperation in sectors including medical devices, railways, AI, secondary batteries, intellectual property and cultural content.
In particular, Lee noted that a contract to export Korean rolling stock for Ho Chi Minh City’s urban railway would be signed Thursday.
Source: Korea Times News
