VOV.VN - TC Motor, an assembling and distributing company belonging to automotive manufacturing giant Hyundai, is to temporarily suspend production from April 1-15 due to the growing impact of the novel coronavirus (COVID-19) epidemic.
Vietnam’s key industries such as textiles, rubber and plastic must take measures to prepare for a shortage of raw materials as a result of the outbreak of the novel coronavirus in China, warned industry leaders and economic experts.
VOV.VN - Prime Minister Nguyen Xuan Phuc entered talks with over 20 leading business leaders and investors from the Republic of Korea (RoK) on the morning of November 28 as part of a host of activities during an official visit to the RoK.
Car maker Hyundai Motor Co. of the Republic of Korea (RoK) will set up a joint venture with Vietnam’s Thanh Cong group to boost sales in the emerging market, according to Yonhap news agency.
Vietnam’s policy on tightening control over import and decreased domestic consumption as well as exports in the Republic of Korea (RoK) have prompted Korean investors to set their car part production bases in Vietnam.
While some automobile assemblers have stopped domestic production and shifted to importing products, others have poured more money into production lines in Vietnam.
Imported CBU (completely built unit) cars are expected to flood Vietnam, as domestic automobile manufacturers prepare to launch new models.
VOV.VN - A centre for women and children repatriated from Vietnam-Korea multicultural families has been inaugurated in Can Tho City.
The Republic of Korea (RoK)’s Hyundai Motor said it is considering building a car plant in Southeast Asia with Indonesia and Vietnam being possible locations.
Many expired cars and trucks have been found for sale online at cheap prices despite being banned earlier this month, prompting concerns over traffic safety and environmental pollution.
Vietnam once put high hopes on automobile joint ventures, believing that foreign technologies would help develop the automobile industry. However, it now believes that it would be better not to rely on outsiders.
Thanh Cong Group has officially signed a new joint venture with the Republic of Korea’s Hyundai Group to manufacture and distribute commercial vehicles in Vietnam.
VOV.VN - The Republic of Korea province of Gyeongbuk has opened a representative office in Ho Chi Minh City, according to multiple media sources.
Hyundai Aluminum Vina shareholding company, which belongs to the Aluko group from the Republic of Korea, and authorities in the northern province of Hung Yen signed a memorandum of understanding on May 24.
Vice Chairman of the Hung Yen provincial People’s Committee Nguyen Van Phong called for foreign investment, including those from the Republic of Korea (RoK) at a workshop in Seoul on April 13.
President Tran Dai Quang received Hyundai Motor Vice Chairman Chung Eui-sun in Hanoi on March 28, asking the group to support its Vietnamese partner in personnel training and technology transfer, and increase the rate of domestically made content in its products.
High import duties on foreign cars and unfavorable policies on the domestic auto industry are leaving few affordable options for car buyers in Vietnam.
As the 2018 deadline to remove tariffs on completely built cars imported from the ASEAN bloc looms, domestic auto manufacturers are banking on the possibility that the government will have some measures to control imports of completely built cars.
VOV.VN - Emerging market funds that invest in Vietnamese stocks are growingly in popularity among Republic of Korea (ROK) investors attracted by the lure of earning higher rates of return than they can earn at home.
Industrial parks nearby Hanoi have attracted scores of foreign invested businesses this year.