Yoon Dae-hee, Chairman of Shinbo, "Will Convey Local Companies' Difficulties to Korea and Vietnam"

Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund (center), is listening to opinions at the 'Support Meeting for the Growth of Vietnamese Market Entry Companies' held on the 13th at the InterContinental Hotel in Hanoi, Vietnam. Photo by Shinbo

[Asia Economy Reporter Song Seung-seop] Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund, held a meeting with local businesspeople and financial institutions in Vietnam.

According to the Credit Guarantee Fund on the 14th, Chairman Yoon stated at the ‘Growth Support Meeting for Vietnamese Market-Entry Companies’ held at the InterContinental Hotel in Hanoi, Vietnam, the previous day, “We will actively convey the opinions of local market-entry companies to our government and Vietnamese authorities so that they can be reflected in institutional improvements and policy formulation.” He also promised, “The Credit Guarantee Fund will faithfully fulfill its role as a policy financial institution to support companies’ successful overseas expansion.”

This meeting was organized to explore ways to strengthen growth support for local market-entry companies. Various improvement suggestions regarding companies’ difficulties and financial support programs for overseas market-entry companies were discussed. Vietnamese local companies said, “We are experiencing management difficulties due to various regulations and delays in permits and approvals by the Vietnamese government, lack of industrial infrastructure, and rising labor costs,” and requested “active government-level support to enable stable operation of companies in Vietnam.”

Chairman Yoon is scheduled to meet with the Vice Minister of the Ministry of Planning and Investment of Vietnam on the 15th to convey the requests of local companies and discuss ways to revitalize support for small and medium-sized enterprises in both countries.