RoK refiner acquire stake in Vietnamese startup VI Automotive Service
GS Caltex Corp, the second largest refiner by sales in the Republic of Korea, said on October 7 that it has signed a deal worth 39 billion VND (1.6 million USD) with Vietnamese startup VI Automotive Service in its first investment in the Southeast Asian country.
Seoul (VNA) – GS Caltex Corp, the second largest refiner by sales inthe Republic of Korea, said on October 7 that it has signed a deal worth 39billion VND (1.6 million USD) with Vietnamese startup VI Automotive Service inits first investment in the Southeast Asian country.
Under the deal reached during a videoconference on October 6, GS Caltex is setto acquire a 16.7 percent stake in the VI Automotive Service as soon asadministrative procedures are wrapped up in Vietnam.
VietWash, a subsidiary of VI Automotive Service,operates about 50 car washes in Vietnam.
GSCaltex also said it plans to sell lubricant products in Vietnam.
GS Caltex is a 50:50 joint venture between GS Energy and Chevron Corp, thesecond-largest US oil producer./.
Chairman of the Hanoi People’s Committee Nguyen Duc Chung has called on companies of the Republic of Korea to increase their investment in Hanoi in the time to come.
Prime Minister Nguyen Xuan Phuc on November 28 expressed his hope that investors from the Republic of Korea (RoK) will increase investment in tourism in Vietnam as there are more than 2,000 flights between the two nations each month.
A memorandum of understanding (MoU) on investment and scientific-technological cooperation between firms of Vietnam and the Republic of Korea (RoK) was inked in Hanoi on February 18.
A seminar took place in the north eastern province of Hoa Binh on September 10 to introduce its potential, advantages and incentives to businesses of the Republic of Korea (RoK).
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