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PR/17-41 Korean investors to tap into robot industry in Vietnam2017-12-05

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PRESS RELEASE
No.PR/17-41Date2017.12.05(Tue)
ContactProgram Inquiries: Kim Ye-won, Officer, TIU (+82-2287-1125, ywk@aseankorea.org)
Press Inquiries: Hwang Ji-seon, Officer, IDU (+82-2-2287-1149, hjs@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.


Korean investors to tap into robot industry in Vietnam

- The ASEAN-Korea Centre to dispatch an investment mission to Vietnam (6-9 Dec., Hanoi, Vietnam) -


Hanoi, Vietnam - The ASEAN-Korea Centre (Secretary General Kim Young-sun) will dispatch an investment and market research mission to Hanoi, Vietnam from 6 to 9 December 2017 in cooperation with the Vietnam Automation Association (VAA) and the Korea Institute for Robot Industry Advancement (KIRIA). The mission of Korean investors is composed of representatives from the sectors of robotics and automation. As the leaders of Korea and Vietnam agreed to increase their trade to 100 billion USD by 2020 during the bilateral summit last month, this Program is anticipated to further accelerate trade ties in the sectors that have a great potential in the era of the 4th Industrial Revolution.

 

Kim Young-sun, Secretary General of the ASEAN-Korea Centre noted that, “With an aim to achieve industrialization and modernization by 2020, the Vietnamese government is very active in upgrading their science and technology sectors as well as in attracting foreign investments in relevant industries. Robotics, in particular, is among the most promising industries, having been selected as one of the priority technology directions in the Strategy for Science and Technology Development for the 2011-2020 Period in order to actively participate in the global supply chains. I hope this Program would lay out groundwork for more Korean investments in the robotics and automation sectors of Vietnam and contribute toward a mutually beneficial partnership between the two countries.”

 

As part of the Program, the mission will attend the Korea-Vietnam Investment Forum on 8 December at Lotte Hotel in Hanoi. At the opening ceremony of the Forum, Kim Young-sun, Secretary General of the Centre, Nguyen Quan, Chairman of the VAA, and Lee Hyuk, Ambassador of ROK to Vietnam are expected to deliver remarks. In the following sessions, senior officials from the Ministry of Science and Technology of Vietnam and the Vietnam Robotics Association will give a briefing on Vietnam’s investment promotion policies and incentives for high tech and robotic industries as well as the current investment projects in the industries. Also, Korean experts from the KIRIA will give an overview of robotics industry in Korea. In the afternoon, business networking sessions will be held to allow the members of the mission to introduce their company profiles to their Vietnamese counterparts and build network for future cooperation.

 

Moreover, the mission is slated to visit the Hoa Lac Hi-tech Park, the VAA, as well as local manufacturing firms such as the Vietnam Autotech Machinery JSC and the Construction and Industry Equipment Group to gain a first-hand knowledge on Vietnam’s robotics industry. They will also attend a networking dinner with Korean companies that successfully established their businesses in Vietnam as well as representatives from the Korean Embassy and the Korea Trade Investment Promotion Agency (KOTRA) Hanoi Office. 

 

During his tour to ASEAN last month, Korean President Moon Jae-in unveiled the ASEAN-ROK Future Community Vision, vowing to level up cooperation in a vast range of areas including ICT. In line with the growing needs of ASEAN countries to foster high-tech industries, the ASEAN-Korea Centre has been carrying out its trade and investment programs in the sectors of ICT, smart city, smart manufacturing, robotics, and e-commerce.



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