Vietnam’s Strategic Importance to South Korean Conglomerates

Vietnam is becoming an increasingly important link in the production strategies of South Korea’s biggest conglomerates, National Assembly Chairman Tran Thanh Man said during meetings with company leaders in Seoul.

On September 8, during his official visit to South Korea, Man met senior executives from Samsung, SK, LG Innotek and Lotte, praising what he described as their practical and effective contributions to Vietnam. He urged the companies to expand their investments and contribute further to the country’s development.

At a meeting with Roh Tae Moon, Samsung Electronics’ vice chairman and chief executive, Man noted that South Korea is Vietnam’s largest foreign direct investor, with Samsung accounting for a substantial share. He invited foreign-invested companies, including Samsung, to offer recommendations and share experience as Vietnam works to improve policies and legislation under Politburo Resolution 10 on the development of the foreign-invested economy.

Roh said Vietnam’s emergence as one of South Korea’s leading investment partners owed much to Vietnam’s National Assembly for building a complete legal framework and a stable, favorable policy environment. Samsung has also worked with Vietnamese businesses on programs to improve production capacity, including smart factories, automation and high-quality workforce development. The company plans to continue investing in high-tech industries with strong technological content and high added value.

At his meeting with SK Chairman Chey Tae Won, Man welcomed the group’s proposal to build a large-scale AI center in Vietnam and organize the Hanoi Forum, focusing on AI, semiconductors, energy and advanced technology. Chey said SK was studying opportunities to expand major projects in energy infrastructure, AI data centers and other fields that match both the group’s strengths and Vietnam’s priorities. The article also reports that Man met LG Innotek Chief Executive Moon Hyuk Soo and expressed his hope that LG would continue to view Vietnam as a key destination.

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Vietnam is a country with very high growth potential in the coming period, and investment in energy and AI is the foundation for building a stable but fast-growing model.