Hyun-Jun Cho, Chairman of Hyosung, Meets Vietnamese Prime Minister to Strengthen Partnership

Request for Interest and Support in New Businesses Including Bio BDO

Chairman Cho Hyun-joon of Hyosung met with Prime Minister Pham Minh Chinh in Hanoi, Vietnam, on the 14th to discuss business cooperation plans.

The meeting was attended by Hyosung executives including Chairman Cho and Vice Chairman Lee Sang-woon, as well as Vietnamese government officials including Prime Minister Pham Minh Chinh and ministerial-level personnel. Hyosung requested interest and support for its existing core businesses investing in Vietnam, as well as the group’s future new business initiatives such as the eco-friendly advanced material Bio Butanediol (BDO), Sustainable Aviation Fuel (SAF), and data centers.

Hyun-joon Cho, Chairman of Hyosung, met with Prime Minister Pham Minh Chinh in Vietnam on the 14th to discuss mutual cooperation plans for future businesses.
[Photo by Hyosung]

At the meeting, Chairman Cho said, "Since Hyosung first entered Vietnam in 2007, it has grown into a company generating annual sales of $3.7 billion (approximately 5 trillion KRW) solely in Vietnam. We share the view that cooperation is needed in various fields such as securing supply chains between Korea and Vietnam, responding to climate change, and transitioning to a digital economy for the next 30 years. Hyosung also wants to contribute to Vietnam’s economic development by investing additional amounts beyond our existing investments to find our 100-year future in Vietnam."

Prime Minister Pham Minh Chinh responded, "We highly appreciate Hyosung’s effective corporate investment efforts and social contribution activities so far. We will take an active interest in and support Hyosung’s ongoing investments and future businesses."

So far, Hyosung has invested a total of $4 billion (approximately 5.4332 trillion KRW) across Vietnam in core businesses such as spandex, electrical equipment, chemical products, and information technology (IT), as well as future business areas including eco-friendly advanced raw materials like Bio BDO and data centers.