SK Group unveils 30 mln USD investment for VN’s innovation centre
SK Group announces 30 mln USD investment for Vietnam’s innovation centre
SK Group, the third largest conglomerate in the Republic of Korea, on June 9 announced its plan to fund 30 million USD for Vietnam’s National Innovation Centre (NIC).
SK Group plans to fund 30 million USD for Vietnam’s National Innovation Centre (NIC). (Photo: pulsenews.co.kr)
Hanoi (VNA) – SKGroup, the third largest conglomerate in the Republic of Korea, on June 9announced its plan to fund 30 million USD for Vietnam’s National InnovationCentre (NIC).
SK Group Chairman CheyTae-won reached the agreement while making a three-day visit to Vietnam lastweek.
NIC, planned to be developedin an industrial park in Hanoi, will host some 40 big technology companies and150 startups, plus 15 venture investment funds. Its construction is expected tobe completed by 2020.
Last month, the SK Groupsaid it planned to purchase a 6.1 percent stake of Vietnam’s real estate-retail-techgiant Vingroup at the price of 1 billion USD. In 2018, the group spent some 470million USD acquiring 110 million shares in Masan Group, the second largestprivate firm in Vietnam.
In August 2018, its fiveaffiliates, including SK Holdings Co. and SK Innovation Co., established ajoint venture named SK South East Asia Investment Pte. Ltd. in Vietnam tolaunch promising business opportunities in the burgeoning Southeast Asianmarket.
Chey said that his group will continue practical investment to create practicalvalue for the Vietnamese people.
TheKorean group operates in the fields of energy, telecommunications, high-techcomponents, logistics and services. It has been present in more than 40countries and territories.-VNA
Masan Group Corporation has announced the completion of SK Group’s purchase of 109.89 million of its treasury shares at 100,000 VND (4.28 USD) per share for a total consideration of 470 million USD.
Prime Minister Nguyen Xuan Phuc has expressed his wish that investors from the Republic of Korea (RoK) and the SK Group in particular would continue expanding their business operations in Vietnam.
Conglomerate SK Group of the Republic of Korea (RoK) plans to purchase 1 billion USD worth of stocks in Vietnam’s real estate-retail-tech giant Vingroup, according to Bloomberg.
SK Group, the third largest business group in the Republic of Korea (RoK), said on May 16 that it would invest 1 billion USD in Vingroup - Vietnam's leading real estate and retail conglomerate, as part of its efforts to expand presence in the Southeast Asian market.
The Vietnamese Party, State, Government and localities always create favourable conditions and protect legitimate rights for foreign firms, including the Republic of Korea’s SK Group, to land technology investment in the country amid the Fourth Industrial Revolution, Prime Minister Nguyen Xuan Phuc said on June 5.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
SK Group plans to fund 30 million USD for Vietnam’s National Innovation Centre (NIC).
