SK Group has launched a 860 million USD corporate partnership fund with the National Pension Service of Korea to increase investment in Vietnamese companies. (Photo: tbck.vn) HCM City (VNS/VNA) - The National Pension Service of Korea recently launched a 860 million USD corporate partnership fund with SK Group of the Republic of Korea that will allow the latter to increase investment in Vietnamese firms Masan Group and Vingroup, according to the Korean Investors news outlet.
Under the partnership, SK Group will be able to co-invest with Vietnamese companies in new businesses, enjoy higher priority when making an equity investment in their Merger and Acquisition deals, and invest in Masan and Vingroup's listed subsidiaries.
In May, SK Group invested 1 billion USD to buy a 6.1 percent share in Vingroup, and 470 million USD for a 9.4 percent share in Masan Group last year.
Naturon Co Ltd, a Korean-based textile company, noted that Vietnam's market has high potential because of the country's stable, high-growth economy and young population, according to Sai Gon Giai phong newspaper.
In addition, the RoK government's New Southern Policy has identified ASEAN and Vietnam as markets for which the RoK will prioritise its investment.
Korean businesses are pouring more money into retail, finance and green energy industries in Vietnam as opposed to mostly electronic components as they have done in the past. The food processing industry is also seeing more investment from Korean businesses.
Vo Tanh Thanh, deputy chairman of the Vietnam Chamber of Commerce and Industry, said the Vietnamese government was improving foreign investment attraction policies for environmentally-friendly projects that use advanced technology, and for companies that want to work closely with Vietnamese businesses./.
VNA
