Korean Y-Mart Retail Group wants to cooperate and invest in Nghe An

Overview of the meeting. Photo: Thu Huyen

Representatives of departments and sectors of Foreign Affairs, Industry and Trade, Construction, Planning and Investment, Investment Promotion Center, Trade and Tourism also attended the meeting.

On the side of Y-Mart Group, Mr. Seongjin Kim - CEO of Y-Mart Retail Group and members of his delegation were present at the meeting.

Last October, the delegation of Korea’s Gwangju city government led by the Deputy Mayor and Vice Chairman of the Council visited and worked in Nghe An. Also on this occasion, the two localities signed a Friendship Cooperation Agreement in many fields. Since then, the two sides have had many exchange activities. The above visit of Y-mart Group in Nghe An is also a part of the framework of the Cooperation Agreement between 2 localities.

Mr. Seongjin Kim - CEO of Y-Mart Retail Group speaks at the meeting. Photo: Thu Huyen

At the meeting, Mr. Seongjin Kim - CEO of Y-Mart Retail Group said that, through the memorandum of understanding between the two local governments in October 2022, the two sides have had cooperation and looked forward to further connection in the future.

The Group is interested in promoting investment in Nghe An, surveying and exploring kitchen utensils products of Hong Son Trading Production Co., Ltd., as well as the province’s fresh vegetables, fruits, dried squid, etc. They also considered exporting Korean products such as green grapes to Nghe An market. Therefore, they looked forward to establishing a legal entity in Nghe An to enhance export and import activities, attract investment, sign contracts and have the first order with Hong Son Trading Production Co., Ltd.

In addition to investment in imports and exports, Y - Mart Group also wanted to recruit employees to work for it in Korea, then returning to work for the Y - Mart supermarket system which was expected to be invested in Nghe An in the near future.

The group also hoped that Nghe An province should create favorable conditions for leasing land in Vinh city or in the form of joint ventures, create links to open retail supermarket chains; At the same time, it was proposed that the province consider to open Nghe An - Korea charter flights, etc.

Speaking at the meeting, Vice Chairman of the Provincial People's Committee Bui Dinh Long expressed his pleasure to welcome the delegation of Y-Mart Retail Group to visit and work in Nghe An. Informing some economic and social situations of the province to the guests, Vice Chairman of the Provincial People's Committee said that, in order to achieve those results, over the past years, Nghe An province had always paid attention to administrative reforms, promoting the improvement of the business investment environment, strongly promoting investment attraction; focusing on supporting and removing difficulties and obstacles for businesses and investors; prioritizing investment in infrastructure systems, especially transport infrastructure such as seaports and airports; paying attention to invest in infrastructure of industrial parks and industrial clusters to attract more investment. These were regarded as important grounds to effectively exploit and promote the advantages of Nghe An province.

Leaders of Nghe An Provincial People's Committees and its departments present gifts to the delegates from Y-Mart Group. Photo: Thu Huyen

Regarding the proposals of Y - Mart Group, Mr. Bui Dinh Long discussed in details in the spirit of accompanying and supporting the group so that the strategies and projects of Y - Mart Group in Nghe An soon come into operation. The Vice Chairman of the Provincial People's Committee also assigned relevant departments and sectors to coordinate to facilitate the group’s investment research progress. This visit would be a big step towards investing in expanding the market of Y - Mart Group in Nghe An.