Logo of Phnom Penh Post newspaper Phnom Penh Post - Samsung heir flies to VN for meeting on mobile expansion

Samsung heir flies to VN for meeting on mobile expansion

Content image - Phnom Penh Post
Samsung Electronics Vice Chairman Lee Jae-yong arrives at Gimpo International Airport in Seoul on Monday following his business trip to Europe on Wednesday. Yonhap

Samsung heir flies to VN for meeting on mobile expansion

Samsung Electronics vice-chairman Lee Jae-yong on Monday flew to Hanoi to hold a meeting with the Vietnamese prime minister and discuss possible additional investment plans in the country.

The South Korean tech giant’s heir apparent is visiting the country for the first time since October 2018.

Samsung’s smartphone business chief Roh Tae-moon and display unit head Lee Dong-hoon joined Lee on the trip.

Lee will meet with Prime Minister Nguyen Xuan Phuc on Tuesday. Whether the two would discuss new investment plans remains to be seen.

Last year, the Vietnamese leader asked Samsung’s Lee to build a semiconductor plant in the Southeast Asian country during his visit to Seoul.

However, considering the members of the latest trip, Samsung might be considering increasing investments related to the mobile device business there rather than the chip business.

Asked on the possibility of making new investments in the country, Roh said: “We will go and see there.”

The Samsung executives are also expected to inspect a research and development centre under construction in Hanoi as well as the smartphone manufacturing site there.

Vietnam is one of countries that have adopted a fast-track entry programme for Korean businesspeople, exempting them from its mandatory self-isolation against Covid-19.

Samsung is producing over 90 per cent of smartphones in Vietnam.

THE KOREA HERALD/ASIA NEWS NETWORK

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Lost in translation: ‘Starvation’ in capital’s designated red zones

    “DACH bay” is a Khmer slang meaning a “loss of income”, that could also be literally translated to «deprived of rice”, which alludes to starvation. However, civil society organisation (CSO) officials have independently confirmed the government’s prior assertions that there are no cases of