RoK firms want to invest in Vietnam’s digital transformation

Many leading groups and corporations of the Republic of Korea, which operate in banking, finance, electricity, retail sales, and technology, have expressed their interest in cooperation with Vietnamese partners, including FPT Corporation, in the fields of new technologies digital transformation.

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FPT and Shinhan Bank signed MoU in 2018. (Photo: VNA)

The Korean businesses mentioned their intention at a recent meeting between FPT Corporation and 20 leading groups of the East Asian country, during which they discussed cooperative opportunities in the Fourth Industrial Revolution.

According to CEO of Shinhan Bank Jin Ok-dong, the bank has invested heavily in the Vietnamese market, and wishes to partner with local startups in Fintech.

Last year, the bank signed a cooperative deal with FPT to develop information technology measures in the financial sector like digital banks and fintech.

Meanwhile, tech giant Samsung said it wants to carry out digital transformation in semiconductor manufacturing. Other enterprises like KDB Bank, LG Chem and LS Corp also wished to work with FPT in the application of new technologies to improve business and production.

In 2016, FPT established a representative office in the RoK to seek cooperation with Korean giants in strategic technology clusters, including smart factory, automobile technology, consumer electronics and multimedia entertainment.

Seeing the RoK as a strategic market, FPT targets business growth in the market at average 60-80 percent per year. Besides, the corporation wants to enter the top five providers of information technology outsourcing (ITO) measures in this market.

VNA

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