Hyundai targets agricultural investment in Vietnam
Hyundai targets agricultural investment in Vietnam
A leader of South Korean industrial giant Hyundai has paid a visit to the Mekong Delta to seek for investment opportunities and potential Vietnamese partners in agriculture.
Mong-Hyuck Chung, chairperson and CEO of Hyundai Corporation, on Thursday went on a field trip to many suppliers of fresh vegetables and fruit and their farming areas in Long An and Tien Giang Provinces, which are near Ho Chi Minh City.
His delegation also visited some pineapple plantations in Tien Giang.
Pham Ngo Quoc Thang, general director of Lavifood Co., told Tuoi Tre (Youth) newspaper that the firm was picked by Hyundai for the field survey after a visit made by another delegation six months ago.
Thang said that Lavifood’s US$25 million plant specializes in processing vegetables and fruit, the $6 million phase 1 of which will come on stream next Monday with an annual capacity of 15,000 metric tons.
During a meeting with Lavifood executives, Mong-Hyuck Chung expressed his satisfaction with the production process at the plant, according to news website VnExpress.
Hyundai is one of South Korea's largest conglomerates operating in various fields such as shipbuilding, automobile manufacturing, construction, retail, finance, and electronics.
It was split into separate companies after the founder passed away in 2001, and Hyundai Corporation is one of eight subsidiaries with a significant scale.
In Vietnam, the South Korean company is active in distributing steel, plastic resins, and industrial materials.
