Seoul (VNA) – A new alliance named “Vietnam Wings” has been launched to support the Republic of Korean (RoK)’s small- and medium-sized enterprises (SMEs) that are seeking to expand into the Vietnamese market.
The RoK’s West Power, a major power generation companies under Korea Electric Power Corporation (KEPCO), officially established the alliance on May 11.
The launch ceremony took place at West Power’s headquarters in South Chungcheong province amid growing efforts by Korean energy firms to expand abroad, with Vietnam identified as a strategic gateway to Southeast Asia.
West Power said the “Vietnam Wings” initiative is designed as a cooperative platform to help Korean partner companies identify business opportunities and strengthen market access in Vietnam.
The name “Vietnam Wings” symbolises the ambition to help Korean SMEs “spread their wings” into overseas markets. The alliance currently consists of 17 companies, including seven firms that participated in West Power’s Vietnam market promotion programme in 2025.
Under the initiative, West Power will serve as a support agency by providing networking opportunities, technology testing support, market expansion assistance and strategic consultancy services.
Participating enterprises will directly implement localisation strategies and business development activities in Vietnam.
West Power also plans to cooperate with the Korea Trade-Investment Promotion Agency (KOTRA), the Korea International Cooperation Agency (KOICA) and local partners to support customer searches, partnership building and company establishment procedures in Vietnam.
The programme will be implemented in three phases, beginning with network building and promotional activities, followed by market penetration through trade fairs, exhibitions and export consulting, and finally operational stabilisation through the establishment of local companies and project commercialisation.
Notably, West Power plans to open an export support centre named “Seohaero” in Ho Chi Minh City later this month. The centre will provide office space, interpretation services, transport and business infrastructure support for Korean enterprises operating in Vietnam.
Following the Vietnam model, West Power aims to expand the programme to Southeast Asia, the Middle East and Africa as part of efforts to build a global support ecosystem for Korean businesses.
Vietnam is increasingly emerging as an important destination in the globalisation strategies of Korean energy and industrial firms thanks to its strong economic growth, rising electricity demand and improving investment climate.
In recent years, Korean companies in the energy, infrastructure, logistics and technology sectors have steadily expanded their presence in Vietnam, not only in manufacturing but also in renewable energy, supply chains and supporting industries.
Lee Jung-bok, President of West Power, said rapid changes in the RoK’s domestic electricity market have made overseas expansion no longer an option but a necessity for partner enterprises./.
