President Lee Jae Myung applauds with SK Group and Korea Chamber of Commerce and Industry Chairman Chey Tae-won, front row fourth from left, and other participants of the Korea-Vietnam Business Forum in Hanoi, Thursday. From left frow are LG Group Chairman Koo Kwang-mo, Samsung Electronics Executive Chairman Lee Jae-yong, Minister of Trade, Industry and Resources Kim Jung-kwan, Chey, President Lee and Vietnamese Prime Minister Le Minh Hung. Yonhap
Business leaders from Korea and Vietnam signed 73 memorandums of understanding (MOUs) in Hanoi, Thursday, during President Lee Jae Myung's state visit to the Southeast Asian country.
At a forum held on the sidelines of the president’s visit, businesses from the two countries agreed to expand partnerships in artificial intelligence (AI), infrastructure, energy, consumer goods and financial services.
SK Innovation and SK Telecom signed separate MOUs with the Vietnam National Innovation Center and the Nghe An provincial government, respectively, to establish AI infrastructure.
Daewoo E&C joined hands with Saigontel for a joint data center project.
In the rechargeable battery sector, POSCO Future M won an approval from the Thai Nguyen provincial government for the construction of a plant for artificial graphite anode materials.
Doosan Enerbility signed an MOU with two subsidiaries of Petrovietnam to cooperate in the nuclear energy sector, while Taihan Cable & Solution agreed with Newtecons to upgrade Vietnam's power grid and work together in the extra-high-voltage cable market.
With the president in attendance, the forum also addressed 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 included 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.
A day earlier, 10 Korean conglomerate leaders attended a state dinner for the president.
Source: Korea Times News
