RoK firms set to invest 9.36 bln USD in 5G tech

According to the daily Nikkei, Japan’s New Energy and IndustrialTechnology Development Organisation (NEDO) will work as a manager of thejoint ventures with corporations including Toyota Corporation, TokyoEnergy Power Company, Tokyo Gas Company and Itochu Corporation. These joint ventures will work with local authorities to set up anoverall plan in March, 2011, to rebuild the urban areas in the cities ofthe ASEAN bloc, and will begin construction in Jakarta, Hanoi and HoChi Minh city in the next five years. Under theproject, the Japanese businesses will help these cities install smartelectric systems, energy-efficient public transport and build watertreatment facilities utilising green technology.…... [read more]

Among the export products withthe highest potential to increase to Turkey are textiles andfood—particularly halal food for Muslims—and Muslim fashion items. Turkey is currently the 23rd largest destination of Indonesianexports, and Indonesia is the 26th largest supplier to Turkey. Trade between the two countries reached 2.47 billion USD in 2014 withannual average growth rate of 16.6 percent from 2010 to 2014. Major Indonesian exports to Turkey include palm oil, furniture and electronic components. Imports, valued at 1.03 billion USD, consisted of synthetic yarn, tobacco, wheat, chemical, marble and tractors.-VNA... [read more]

An agreement inprinciple on the project was signed by leaders of the company and themunicipal People’s Committee on Oct. 19. Under theterms of the agreement, the local authorities will allocate 1,062 ha ofland and 500 ha of water surface for the investor to develop theproject. Vinpearl General Director Dang Thanh Thuysaid the project has a total investment capital of 5 billion USD. In thefirst phase, the company will disburse 1 billion USD for constructionof a five-star hotel, an international conference centre, a casino, agolf course and helicopter and seaplane parks. Construction of the project is scheduled to begin in 2012…... [read more]

Provincial officials said the plant was expected to become operational in 2021.According to a Memorandum of Understanding (MoU) on the project signed last month, KOWEPO will invest 1.85 billion USD in building the Quang Tri Power Plant No 2, which will be located in the province’s Southeast Economic Zone.KOWEPO will own and operate the power plant for 25 years. It will also carry out construction management and operations and maintenance (O&M) services.“We will establish a growth base in Vietnam and make a full-scale entry into the Indochina power generation market by successfully completing this project,” Jung Young-chul, general manager of…... [read more]

The Korea Western Power Co. (KOWEPO) plans to construct a 1,200MW coal-fired power plant in Quang Tri in 2018 (Photo: Quang Tri Portal)QuangTri (VNA) – The Korea Western Power Co. (KOWEPO) of the Republic ofKorea plans to construct a 1,200MW coal-fired power plant in the centralprovince of Quang Tri in 2018.Provincialofficials said the plant was expected to become operational in 2021.Accordingto a Memorandum of Understanding (MoU) on the project signed last month, KOWEPOwill invest 1.85 billion USD in building the Quang Tri Power Plant No 2, whichwill be located in the province’s Southeast Economic Zone.KOWEPOwill own and operate the power plant…... [read more]

Illustrative image (Source: internet)HCM City (VNA) – Free trade agreements (FTAs) help attract the investment of enterprises from the Republic of Korea (RoK) to Vietnam’s garment market, said Vice President of the Korea Trade-Investment Promotion Agency (KOTRA) Roh Inho. Speaking at a ceremony to launch the Korea-Vietnam FTA Support Centre in HCM City on March 4, Roh Inho said there is great potential for Vietnam to boost exports to the RoK, especially its key goods such as textiles, agricultural and aquatic products. He noted that his country has committed to opening its market to Vietnam’s tropical fruits and removing tariffs…... [read more]

The Republic of Korea (RoK) will provide 1.5 billion USD in official development assistance (ODA) for Vietnam for 2016-2020 via the Korea Economic Development Cooperation Fund (EDCF). A framework agreement to this effect between the two governments was signed by Minister of Planning and Investment Nguyen Chi Dung and RoK Ambassador to Vietnam Lee Hyuk in Hanoi on November 8. With ten articles, the agreement specifies lending conditions, disbursement, and Vietnam’s incentives for projects using the RoK-funded ODA. The sum will be reserved for projects chosen by the two governments. Speaking at the signing ceremony, Minister Dung said the RoK’s ODA has been…... [read more]

Illustrative image (Source: VNA)Ha Nam (VNA) – Authorities from the northern province of Ha Nam have promised optimal conditions for the Kolon Industries Group from the Republic of Korea (RoK) to run its business in the locality.Vice Chairman of the provincial People’s Committee Pham Sy Loi made the pledge during his working session on March 16 with representatives from the RoK firm which is seeking to set up a 200 million USD plant producing industrial textile for automobile tyres in the Chau Son Industrial Park in Phu Ly city.The official highlighted local potentials in terms of geographic location, developed infrastructure,…... [read more]

With this figure, the RoK will become thefourth largest key market of Vietnam ’s textile and garments sector,after the US , the European Union and Japan . Last year, Vietnam ’s export of textile and garments to the RoKsurpassed 904 million USD, a year-on-year increase of 145 percent, thehighest growth rate so far. It is noteworthy thatalong with the strong rise in Vietnam ’s export to the RoK, Koreanbusinesses have invested intensively in the garment sector in Vietnam, with total investment reaching 1.8 billion USD. The Vitas leader said not only textile and garments but also footwearand furniture can hope…... [read more]

The working session between representatives from the Dong Nai provincial People’s Committee and the Association of Korean Businesses in Dong Nai (Source: Nai (VNA) – Enterprises from the Republic of Korea (RoK) want to expand investment in the southern province of Dong Nai, said President of the Association of Korean Businesses in Dong Nai Park Hyun Bae.In a working session with representatives from the provincial People’s Committee on March 2, Park Hyun Bae praised policies devised by the local authorities to attract investors, adding that Dong Nai boasts advantages with its location in the centre of the southern economic…... [read more]