Dongwha Enterprise Signs Business Agreement with Vietnamese State-Owned Enterprise VRG

Sharing Key Infrastructure Including Technology, Resources, and Networks

Dongwha Enterprise announced on July 11 that it had signed a business agreement with Vietnam Rubber Group (VRG), a Vietnamese state-owned enterprise, on July 9.

This agreement was concluded to share and strengthen cooperation regarding key infrastructure, such as the technologies, resources, and market networks held by both companies. Dongwha Enterprise plans to provide its technological capabilities and operational know-how based on its accumulated expertise and experience, while VRG will support the stable supply of raw materials and offer access to its local partner network in Vietnam.

At the Dongwha Enterprise Seoul office, a commemorative photo was taken after Dongwha Enterprise signed a business agreement with VRG. From the left: Tran Quoc Thai, VRG Industrial Complex Development Committee member; Tran Nhu Hong, VRG Sales Manager; Do Ho Phuong, VRG Vice President; Le Tan Hung, VRG General President; Seung Jisoo, Dongwha Group Vice Chairman; Chae Kwangbyung, Dongwha Enterprise CEO; Kim Myungsik, Dongwha Enterprise Vice President. Dongwha Enterprise

Chae Kwangbyung, CEO of Dongwha Enterprise, stated, "Since establishing the joint venture 'VRG Dongwha' near Ho Chi Minh City with VRG in 2008, Dongwha Enterprise has been conducting business locally for about 17 years. Based on the trust and friendly partnership built between the two companies over the years, we will respond closely to business opportunities in Vietnam, a market with high economic growth potential, and continue to pursue a mutually beneficial relationship through this business agreement."

Meanwhile, VRG is a leading state-owned enterprise in Vietnam engaged in the cultivation and processing of rubber trees in the agriculture and industry sectors, and operates 115 subsidiaries. The company manages more than 400,000 hectares of rubber tree plantations in Vietnam, Laos, and Cambodia.