SEP Group plans to develop a carbon-neutral IP in Vietnam

At a meeting with the leadership of Binh Duong People’s Committee on March 9, chairman of SEP group Dong Hoon Huyn said that based on the carbon-neutral model being piloted by the Banwol-Sihwa Industrial Complex in Korea, SEP Group wanted to invest in a carbon-neutral industrial complex specialising in the shoe industry and infrastructure to reduce carbon. The industrial complex is expected to cover an area of 180 hectares in Phu Giao district, with the total investment capital of $200 million.

He that at present large groups such as Samsung, LG and Hyundai were concentrating on transiting to carbon-neutral manufacturing.

“Once completed, the industrial complex will welcome approximately 20 member companies of SEP to invest in carbon-neutral solutions in Vietnam. Besides this, Korea University of Technology and Education will award full scholarships for students who are trained on the environmental technology subject in Korea and then return Binh Duong to the sector,” he said. It may be the second carbon-neutral unit in the province, following a carbon-neutral factory of the Danish toy production company firm Lego.

A number of big projects of Korean enterprises have been invested in Binh Duong such as Kumho Tires Vietnam Co., Ltd., which invested $128.3 million to produce car tires; DCT Partners Vietnam Co., Ltd. in hotels, a commercial centre, and high-rise apartment projects with a total capital of $100 million; and Orion Vina Food Co., Ltd. investing in confectionery production with a total capital of $60 million.

Deputy Chairman of Binh Duong People's Committee Mai Hung Dung pledged to support the project and asked provincial departments and agencies to create conditions for investment procedures so that SEP Group could soon deploy the project.