Daewoo Engineering & Construction (Daewoo E&C) announced on May 31 that its CEO Kim Hyung met with Nguyen Vu Tung, the Vietnamese ambassador to Korea, on May 27 to discuss expanding investment development projects in Vietnam and strengthening business cooperation.
At the meeting, CEO Kim thanked Vietnamese Amb. Nguyen for Daewoo E&C’s successful business in Vietnam with continued support from the Vietnamese government since its first entry into the market in 1992.
"We are planning to actively participate in investment development projects in Vietnam, including the Star Lake City project currently being carried out, as well as the PPP project (public-private partnership) in the future, so we ask for your continued interest and support from the Vietnamese Embassy in Korea," said CEO Kim.
Meanwhile, Vietnamese Ambassador Nguyen said, "We are grateful that Daewoo E&C's entry into Vietnam has contributed to Vietnam's economic development. We will work hard to resolve the difficulties of Korean companies operating in Vietnam."
He also said, "After the end of the COVID-19 Pendemic, we hope that the exchanges between the two countries will become more active and that we will build a cooperative relationship."
Daewoo E&C entered the Vietnamese construction market in earnest in 1991, before Korea and Vietnam established diplomatic ties (in 1992), and have been working on a project worth about $3 billion over the past 30 years.