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| Participants of the first conference on Korean corporate social responsibility pose for a photo in Ha Noi. — Photo hanoimoi.com |
HA NOI (Biz Hub) — As leaders of foreign investment in Viet Nam, most Korean investors consider themselves to be local businesses contributing to the country's development, according to opinions shared at a conference in Ha Noi on October 6.
The conference, the first of its kind on Korean corporate social responsibility (CSR), was organised by the Korean Embassy, Korean Chamber of Business in Viet Nam, Korea Trade-Investment Promotion Agency and the Ministry of Planning and Investment .
The commitment of Korean businesses to contribute to Viet Nam's sustainable economic development is seen in the large number of CSR initiatives launched by corporations such as Asiana Airlines, CJ Group, CNN Doosan Vina Company Limited and Daum Kakao Corporation, as well as Lock & Lock Vina, Miwon Vietnam, Nonghyup Bank and Samsung Electronics. Shinhan Vietnam Bank, Shinsegae Group and Woori Bank have also created many CSR programmes.
The CSR programmes covered healthcare, culture, education and the environment as well as the reduction of poverty and the development of rural areas in the country.
Besides launching scholarships and opening schools and libraries, Korean companies have also taken part in local blood donation drives and environmental protection activities. Two Korean banks also supported Vietnamese brides, who were returning to visit their families.
Deputy Minister of Planning and Investment Nguyen Van Trung expressed appreciation for the Korean CSR programmes, considering them meaningful for the sustainable development of the country, especially in the context of Korea being Viet Nam's largest investor in terms of investment volume and number of projects.
Korean ambassador Jun Dae Joo said, as of this August, the cumulative investment of Korea in Viet Nam had reached US$43 billion, making Korea the leader of foreign investment in the country so far. He added that when the Vietnam Korean Free Trade Agreement goes into effect this year, the targeted bilateral trade of $70 billion by 2020 between the two countries will become achievable.
More than 4,000 Korean businesses are trading and investing in Viet Nam, said the ambassador, adding that some 130,000 Vietnamese people lived and worked in Korea while approximately 140,000 Koreans lived and worked in Viet Nam. — VNS