FLC Group meets over 400 South Korean investors
FLC Group meets over 400 South Korean investors
Property developer FLC Group on Monday held a meeting with more than 400 South Korean estate firms, investors, tourism agencies and investment funds during a large roadshow and seminar held in Seoul.
Speaking at the event, Deputy Minister of Foreign Affairs Vu Hong Nam said Viet Nam and South Korea have mutually beneficial cooperation as the two countries are located in two distinct climatic regions, which could support their economies, especially in the tourism, resort and golf industries.
With the advantage of long and beautiful beaches, Viet Nam is an ideal location for tourists from cold countries looking to escape the winter. Notably, a large number of tourists from South Korea have visited Viet Nam in recent years.
“FLC has become one of the strong brand names in Viet Nam, and is now expanding to foreign markets. In particular, its resort complexes, golf courses and villas have attracted attention from both local and foreign investors,” Nam added.
Viet Nam Ambassador to South Korea Nguyen Vu Tu said this is the first time he has seen a Vietnamese firm actively seeking foreign partners.
Nguyen Hoai An, from CBRE, said Việt Nam is being considered a new emerging tourism destination in South Korea in the resort property sector. Statistics showed that up to 30 per cent of tourists playing golf in Viet Nam come from South Korea.
An said the ownership of a resort property in Viet Nam for foreigners has been allowed since 2015. Investors only need an eligible visa and are not limited in the number of properties they can purchase.
Answering why South Korea was selected for the event, Trinh Van Quyet, FLC Group’s chairman, said South Korea has contributed a significant amount of FDI to Viet Nam. In addition, it has many similarities with Vietnamese culture. FLC has, therefore, made attracting investment from developed economies such as South Korea its priority.
Further, the group’s estate products – resort and golf courses – have drawn much attention from South Korean investors.
Investors from South Korea and other countries can purchase estate projects in Viet Nam as the country’s resort property has been developed well in the past few years.
Dang Tat Thang, FLC’s deputy general director, said the group was seeking partners who are developing resort property and golf courses, as well as tourism companies bringing tourists to Viet Nam.
"According to our survey, one out of 10 South Koreans plays golf and wants to experience hi-end golf courses. We are paying special attention to cooperation with South Korean investors,” Thang added.
Opening representative offices
Chairman Quyet said the group planned to open three representative offices in Singapore, Japan and South Korea.
“We organised roadshows in Singapore and Japan and established a representative office in Tokyo last month. We will open another office in Seoul in 2018,” he said.
During the event, FLC Group signed a comprehensive cooperation agreement with KB Securities Viet Nam Joint Stock Company – a member of KB Securities – to provide financial products and services in Viet Nam and the international market.
KB Securities of KB Financial Group is the third-largest securities company in South Korea in terms of assets, with total ownership capital of more than US$3.7 billion.
