The total annual revenue of Korean companies in Vietnam can be up to USD100 billion. In particular, the group of companies Samsung Electronics and LG Electronics had a total revenue of about USD80 billion in 2021.
On December 5, in Seoul, on the occasion of his State visit to the Republic of Korea, President Nguyen Xuan Phuc received leading South Korean corporations that are implementing many large-scale projects in Vietnam such as CJ, Lotte, LG, Daewoo E&C, Hyundai Motor, GS E&C, Doosan...
Affirming that Vietnam continues to create more favorable conditions for business and investment activities of enterprises, the President encouraged leading Korean corporations to deploy many large-scale projects in Vietnam.
Korea is increasingly asserting its role as a strategic investment partner of Vietnam, not only because of the large amount of capital but also because the investment capital from this country is rightly directed towards the goal of attracting the FDI of Vietnam.
The presence of Korean businesses in Vietnam in all sectors of the economy. Besides big and familiar names such as Samsung or LG in the electronics field with hundreds of satellite businesses, Hyundai in the field of automobiles, and Lotte in the field of real estate, services ...Korean corporations are also big players in many other fields such as finance (Shinhan, Mirae Asset, Hanwha...), textiles - footwear (TKG Taekwang, Chang sin), Chemicals - heavy industry (Doosan, Hyosung, Posco...), food (Orion Food...).
In the real estate market, Lotte owns a series of properties with prime locations such as Lotte Center Hanoi, Lotte Mall Hanoi, Diamond Plaza, and Lotte Hotel Saigon; Daewoo E&C also made a big splash with the Starlake Tay Ho Tay project.
The total annual revenue of Korean companies in Vietnam can be up to USD100 billion. In particular, the group of companies Samsung Electronics and LG Electronics had a total revenue of about USD80 billion in 2021. Many other units also have a revenue of about 1 billion USD/year such as MCNEX Vina, CJ Vina Agri, Hyosung, Chang Sin, and TKG Taekwang...
Not only direct investment, but Korean enterprises also promote indirect investment. Notably, SK Group in just a few years has poured billions of dollars into Vingroup, Masan Group, and Wincommerce, acquired the pharmaceutical company Imexpharm...
Revenue in 2021 of Samsung and LG groups in Vietnam
(billion USD)
Source: Cafef