Six Korean firms operating in Vietnam were awarded the Corporate Social Responsibility (CSR) Award on November 30 due to their high business efficiency and positive contributions to the Vietnamese community, society, and labour force.
These six enterprises are Nonghyup Bank, Chang Shin Vietnam, Doosan Vina, Everpia Company, CJ Vietnam Group, and Sung Bu Vina Company.
This was the sixth CSR Award ceremony for Korean firms in Vietnam that the Ministry of Planning and Investment has organised in collaboration with the Korean Embassy in Vietnam and the Korea Trade-Investment Promotion Agency (KOTRA) since 2011.
Speaking at the awards ceremony, Korean Ambassador to Vietnam Lee Hyuk said, “When the economic cooperation between the two countries is reaching the next level, the CSR activities of Korean investors in Vietnam start playing a more important role in strengthening the bilateral relation between the two nations.”
South Korea is now the biggest foreign investor in Vietnam in terms of both quantity and total investment among 112 countries and territories, with 5,593 projects worth approximately $50 billion. Up to now, Korean enterprises have invested in 19 sectors, mainly in the fields of manufacturing ($35 billion), real estate ($8.2 billion), and construction ($2.7 billion).
Korean businesses have invested in 52 cities and provinces in Vietnam, among these, Bac Ninh accounts for the largest investment volume (nearly $6.2 billion). Runners-up are Hanoi ($5.8 billion), Dong Nai ($5.5 billion), Haiphong ($5.4 billion), and Thai Nguyen ($5 billion).
"In the past, Korean companies were mainly known for trade and investment in Vietnam, however, we believe that CSR is an integral mission of Korean businesses operating here. CSR is getting more and more attention from enterprises of all sizes and walks of life," said KOTRA chairman Kim Jeahong.
The CSR Awards has become an annual highlight event since 2011 honouring Korean enterprises which are highly efficient and make positive contributions to the Vietnamese society and labour force, thereby enhancing the development of bilateral relation between the two countries.
This year, the collection of registration documents from Korean enterprises with outstanding CSR activities entitled “Share Together” started in September and attracted the participation of nearly 100 Korean businesses operating in diversified fields, such as heavy industry, transportation, garments and textiles, and goods distribution.
Nguyen Van Hieu, Deputy Minister of Planning and Investment stated, "Korean businesses in Vietnam play an important role in the development of not only the economy but of the country and society as a whole. We appreciate these efforts and expect a strong bilateral cooperation between the two countries."
NongHyup Bank, formerly known as National Agricultural Cooperative Federation of Korea, co-operated with Vietnam Bank for Agriculture and Rural Development (Agribank) in many fields, such as letters of credit (L/C), trade finances, money transferring between the two nations, and other financial services. The two lenders exchanged experience and banking knowledge and organised common training programmes.
Entering Vietnam in 1995, Chang Shin Vietnam is known as one of the largest foreign shoe makers in the southern province of Dong Nai. In 2013, the company announced a $12 million expansion of its existing facility and pushed up the factory’s labour force to almost over 26,000.
Doosan Vina is a high-tech industrial complex in the central province of Quang Ngai’s Dung Quat Economic Zone. The company supplies mega infrastructure products that make modern life a reality. Since 2006, Doosan Vina has been manufacturing and providing products for more than 197 projects, with a total value of billions of US dollars and exported around 350,000 tonnes. Products with the label “Made in Vietnam” manufactured by Doosan Vina now appear in 28 countries and territories around the world.
Meanwhile, after 20 years of presence in Vietnam, Everpia Vietnam continues to invest in new technology, product design, and improving quality management to be a typical representative of the products in bedding and padding in Vietnam. It currently has three manufacturing factories located in Hanoi, Hung Yen, and Dong Nai with a total annual capacity of 10 million bedding products and 30 million yards of cotton sheets.
CJ has been operating in Vietnam since 1998. In 1999, it established CJ Vina Agri Co., Ltd. in the southern province of Long An, specialising in the production and trading of animal feed. As of now, the group has opened three additional animal feed processing plants in Dong Nai, Vinh Long, and Hung Yen provinces and two subsidiary companies CJ IMC and CJ Korean Express, which supply logistics services.
Earlier in August, CJ arrived to the central province of Binh Dinh to find investment opportunities in numerous sectors. Notably, the group wanted to develop an animal feed processing plant at Nhon Hoa Industrial Zone in An Nhon town, as well as a pig breeding farm and a seafood processing plant. Besides, it also studied the possibility of building cinemas to meet the entertainment demand of locals and tourists in Quy Nhon city. In addition, CJ is also famous for various popular brands, like Tous les Jours, CGV or SCJ TV Homeshopping.
Sung Bu Vina is known as a private plastics products manufacturing company in the southern province of Binh Duong. The company currently has about 500 employees.