Within the framework of the business trip to promote investment in Korea (from June 11 to June 14, 2023), on June 13, the Hai Phong Investment Promotion Delegation led by Mr. Le Tien Chau, Member of Communist Party Central Committee of Vietnam, Secretary of Hai Phong City Party Committee as the Head of the Delegation, had a meeting with leaders of LG Group (Vehicle Solutions and Business Solutions, LG Electronics; LG Display; LG Innotek) and visited LG Science Park (Research and Development Hub of LG Group in Korea); and worked with leaders of STS Group in Korea. KBC’s Chairman Dang Thanh Tam, KBC’s General Director Nguyen Thi Thu Huong and some leaders of SGI Group, Kinh Bac City Development Holding Corporation (KBC) also joined the delegation's business trip.

Within the framework of the business trip of the Hai Phong Investment Promotion Delegation in Korea (from 11 to 14/06/2023), on 13/06, the signing ceremony of important Memorandums of Understanding (MOU) was taken place for development cooperation and investment expansion projects in Hai Phong city

At the meeting of the Delegation with Vehicle Solutions and LG Electronics, the leader of LG Electronics said that LG Electronics' factory in Trang Due Industrial Park, Hai Phong is the main production base of LG Electronics worldwide; this is also a central production area which is capable of connecting and spreading with other LG Electronics factories located in many countries around the world such as Europe, America, etc. LG Electronics factory in Trang Due Industrial Park (Hai Phong) is the place of production and supply of electrical - electronic and civil electrical products of LG Electronics globally. LG Electronics signed a Memorandum of Understanding on cooperation with Hai Phong city on supporting the city to build a smart city model and committed to continue expanding project investment in Hai Phong city.

After that, the Delegation visited and worked with LG Display. As for the LG Display project in Trang Due Industrial Park - Hai Phong, it is expected that in July 2023, the H3 factory area will come into official operation, producing high-tech IT products, thereby creating a lot of commercial value as well as many job opportunities for local workers and workers in the northern provinces of Vietnam. The Delegation was impressed with the display area of new products of LG Display, products applying artificial intelligence in many fields such as healthcare, household appliances, etc.

During the Delegation's meeting with LG Innotek, LG Innotek signed a Memorandum of Understanding with Hai Phong city on expanding project investment.

Currently, the total number of projects of LG Group in Trang Due Industrial Park, Hai Phong is 7 projects with investment capital of 7.24 billion USD (LG Electronics, LG Display, LG Innotek, LG CNS, LG Chemical - 2 projects and LG International) and 50 satellite companies with a total investment of nearly 1 billion USD.

The Delegation visited LG Science Park which is the Research and Development Hub (R&D) of LG Group in Korea. LG Science Park,established in 2018 with 8 member companies, is Korea's largest R&D complex with more than 100 hectares and more than 20,000 employees.

The Delegation visited LG Science Park - the Research and Development Hub (R&D) of LG Group in Korea

In addition, on 13/06, the Investment Promotion Delegation had a meeting with leaders of STS Group in Korea connected by KBC. The Delegation visited the projects of social housing, official residence, commercial housing invested by STS in Seoul and worked at the headquarters of STS Group. Representatives of each member company of STS Group introduced the scale, capacity and operation direction of hospital and school projects, etc. Secretary of the Hai Phong City Party Committee affirmed, Hai Phong city shall continue promoting comprehensive cooperation with Korean partners, calling on STS Group to soon concretize its commitment to cooperation by taking actions such as researching, investing and developing projects such as investment on construction of hospitals, schools, etc in Hai Phong

STS is a developer specializing in commercial facilities (department stores, shopping malls, high-end shopping malls, retail supermarkets, universities, hospitals, etc.) For 30 years, STS has directly developed and operated about 100 real estate projects in Korea and abroad. Through transactions with corporate clients, STS has established a strong network with related partners such as financial investors, contractors, retail brands and foreign investors.

Signing ceremony of MOU among People's Committee of Hai Phong City, KBC and STS Group (Korea) on investment cooperation in Hai Phong city in the near future

The most important event for KBC in the framework of this investment promotion business trip is the Signing Ceremony of Memorandums of Understanding (MOU) taking place on 13/06/2023. Kinh Bac City Development Holding Corporation (KBC) and Saigon Invest Group had 4 Memorandums of Understanding signed between representatives of People's Committee of Hai Phong City, Kinh Bac City Development Holding Corporation and STS Group in Korea (STS), JB Financial Group (JBF), Gyeongsang National University (GNU), Gyeongsang National University Hospital (GNUH) on investment cooperation to successfully deploy projects in Dinh Vu - Cat Hai economic zone, Hai Phong City that KBC will connect and cooperate in the near future.

STS Group (Korea) is a leading enterprise in the field of commercial infrastructure development. Meanwhile, JBF is also a financial group managing more than 40 billion USD, owning 5 subsidiaries in Korea and 4 subsidiaries abroad. Gyeongsang National University (GNU) is the second largest university in Korea. Gyeongsang National University Hospital (GNUH) manages 2 hospitals, one of which is the highest-standard hospital in Korea.

Signing ceremony of MOU among People's Committee of Hai Phong City, KBC and STS Group (Korea) and JB Financial Group (JBF) on investment cooperation in the project complex in Hai Phong City

Signing ceremony of MOU among People's Committee of Hai Phong City, KBC and STS Group (Korea), Gyeongsang National University on investment cooperation in the field of education and social infrastructure development in Hai Phong City

The signing ceremony of MOU among People's Committee of Hai Phong City, KBC and STS Group (Korea), Gyeongsang National University Hospital (GNUH) on investment cooperation in the field of health and development of high-quality healthcare system in Hai Phong City

According to the MOUs signed among the parties, Hai Phong City’s Government will support and create favorable conditions for the investor consortium in the process of research, investment and other procedures related to the projects, in accordance with the laws of Vietnam. The parties will cooperate in inviting and attracting Korea's top-quality Universities and Hospitals for investment, along with JBF's financial support through the role as a consultant and financial manager in the project implementation process; in order to turn the projects’ area into a central area in the health and education system of Hai Phong City. In the health sector, the project area will help Vietnamese people and foreigners living and working in Vietnam benefit from a high-quality healthcare system. In the field of education, it will provide a high-quality education system, aiming to enhance exchanges between the two countries - Vietnam and Korea, and will implement a cooperation program and operate a Research and Development Hub (R&D Hub) which is similar to the model being implemented in Korea, in order to help businesses in Hai Phong city (in the future, it is expected to spread across Vietnam) quickly adapt to and integrate with new technology and culture.  At the same time, it is expected to establish a high-quality commercial and entertainment infrastructure. Then, it will transform the project area into one of the leading centers of Hai Phong City with diverse and high-quality public and private infrastructures, providing better services, contributing to improving the quality of life and position of the city, attracting domestic and foreign tourists.

The investment project complex of STS Group, JBF, Gyeongsang National University (GNU), and Gyeongsang National University Hospital (GNUH) committed to invest more than 1 billion USD in the project area in Dinh Vu - Cat Hai economic zone, Hai Phong. STS has successfully invested in a typical project of 1.2 million square meters near Seoul, in which there are the presence of Lotte Premium Outlet distributing high-end brands, Ikea, Living power center. Thus, STS also wishes to build a Mega shopping center in Trang Cat Urban Area to become the largest shopping place in Vietnam, attracting tourists with the advantage of convenient transportation (only about an hour by car from Hanoi capital) meanwhile GNU will build a university that provides a high-quality education system. GNUH will invest in building an international hospital in Trang Cat area. The investment and development of this project complex will contribute to turning Trang Cat urban area into a new generation of smart urban area and a new model urban area in the world.