The official launching of Lotte Finance in Vietnam The move formalises the company’s commitment to bringing more wealth and value to all interested parties. Participants at the launch included representatives from the Government Office, the State Bank of Vietnam, the Korean Embassy in Vietnam, the Vietnam Banks Association, the Korean Association in Hanoi, the senior leaders of affiliated companies of Lotte Corporation in Vietnam and Korea, and close to 250 guests from other business partners, as well as media agencies across the country. After nearly six months of operation, Lotte Finance has launched two mainstream product lines: consumer loans on December 2018 and credit cards featuring Lotte Finance Visa Platinum and Lotte Finance Visa on April 2019. The company now has three offices in Hanoi and Ho Chi Minh City, and more than 500 employees working in ten service introduction points (SIP) in nine cities and provinces across the country. From now to the end of this year, … [Read more...] about Lotte Finance marks official debut in Vietnam
Korea embassy in vietnam
Workers at China's AKA Homewares Company in southern Long An province (Photo: VNA) Hanoi (VNS/VNA) - Chinese companies are accelerating investment in Vietnam, but some local businesses are voicing concerns. Foreign investment hit a four-year high of 16.7 billion USD in the first five months of this year, up 69 percent compared to the same period in 2018. Chinese investment made up 42.5 percent of the total according to data released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. If including Taiwan’s investment, Chinese investors poured nearly 7.7 billion USD in Vietnam, surpassing the Republic of Korea, Singapore and Japan to become the biggest foreign investor. In its recent report, the FIA said the trade tensions between China and the US has a significant impact on the shift of Chinese investment. Investments from mainland China and Hong Kong increased from 3.7 billion USD in 2017 to 5.8 billion USD in 2018 and 7.1 billion USD … [Read more...] about Growing Chinese investment in Vietnam: time to worry?
A young couple with matching expressions stare nervously into the camera with deep brown eyes. He, a Vietnamese student, has just met the love of his life. She, a North Korean, is forbidden to love him back. It was 31 years after Pham Ngoc Canh, 69, took that first photo of Ri Yong Hui, before the two were finally allowed to get married in 2002 when North Korea took the rare step of allowing one of its citizens to marry a foreigner. "From the moment I saw him, I was so sad because I felt it would be a love that could never be realized," said Ri, 70, speaking from the small Soviet-era apartment she and Canh share in the Vietnamese capital, Hanoi. Canh and Ri are hoping the upcoming summit between U.S. President Donald Trump and North Korean leader Kim Jong Un in Hanoi will help end hostilities with Pyongyang. Ri said. "When people first heard Kim Jong Un decided to meet Trump, they expected reunification to happen soon. But that’s hard to realize in just one or two days. I hope … [Read more...] about Lovers, comrades! Forbidden love in North Korea finds a way in Vietnam
By Dat Nguyen  April 10, 2018 | 04:50 pm GMT+7 A mortar dropped by the U.S. during the Vietnam War remains unexploded in central Vietnam. Photo by VnExpress/Xavier Bourgois The project is one of the largest of its kind aimed at dealing with unexploded ordnance. South Korea will provide $20 million in aid to support the removal of landmines and unexploded ordnance (UXO) in Vietnam under a project launched on Monday. The Korea-Vietnam Mine Action Project aims to identify contaminated areas and remove landmines and UXOs in the central provinces of Binh Dinh and Quang Binh. Official data showed 40 percent of the land in Binh Dinh is contaminated with explosives left from wartime and nearly 28 percent of Quang Binh's area is affected. Money will also be spent on supporting victims and raising people’s awareness of the risks of mines, officials said at the meeting in Quang Binh. The Korea-Vietnam Mine Action Project, a collaboration between the Korea … [Read more...] about South Korea commits $20 mln to landmine clearance in Vietnam
President Moon Jae-in of the Republic of Korea (Source: Embassy of the Republic of Korea) Vietnam and the Republic of Korea established diplomatic ties in 1992. They have been cooperative strategic partners since 2009 and signed a free trade agreement in 2014. Strategic cooperative partnership The two countries’ relationship has developed robustly over the years. The Republic of Korea is Vietnam’s biggest investor with a total investment of more than 52 billion USD and Vietnam’s second largest provider of official development assistance (ODA) which focuses on administration, education, water management, and infrastructure. After the signing of a Free Trade Agreement, bilateral trade has increased sharply reaching 61.5 billion USD last year, 16.5 billion USD more than the previous year. Vietnam’s biggest trade deficit was with the Republic of Korea last year. Republic of Korea Ambassador to Vietnam Lee Hyuk said: “The growth of bilateral ties … [Read more...] about New developments in Vietnam- RoK relationship