Hyosung chairman expresses intention to expand investment in Vietnam

SEOUL, Oct. 15 (Yonhap) -- Hyosung Group Chairman Cho Hyun-joon has expressed his intention to invest more than US$4 billion in Vietnam in the future, solidifying the company's position in the Southeast Asian market, the group said Tuesday.

Cho met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Monday to discuss opportunities for deeper collaboration between Hyosung and Vietnam, according to Hyosung Group.

This meeting follows a previous discussion held in Seoul in July, during the prime minister's official visit to South Korea.

During the talks, Chairman Cho reaffirmed Hyosung's commitment to supporting Vietnam's economic development and emphasized the company's long-term strategy to expand its operations across multiple sectors in the country.

Since entering the Vietnamese market in 2007, Hyosung has already invested $4 billion in key industries, such as spandex, chemicals, and information technology, while also exploring new ventures in eco-friendly high-tech materials.

This investment has contributed to annual sales of $3.5 billion in Vietnam.

The Vietnamese prime minister commended Hyosung for its continued investment in Vietnam and expressed the Vietnamese government's support for the company's business initiatives.

brk@yna.co.kr
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