Hanoi (VNA) - Leading executives from the Republic of Korea’s top conglomerates are expected to visit Vietnam this month to seek new business opportunities, amid rising instability in the Middle East and a global trend toward trade protectionism.

The delegation is expected to include Samsung Electronics Vice Chairman and CEO Lee Jae Yong, Hyundai Motor Group Chairman Chung Euisun, LG Group Chairman Koo Kwang Mo, and SK Group Chairman Chey Tae Won, among others.

Vietnam continues to serve as a major global manufacturing hub, with Samsung Electronics producing nearly half of the world’s smartphones in the country, while LG Display and LG Innotek maintain extensive production networks.

SK Innovation is currently implementing a 2.3 billion USD energy project in Vietnam, which includes a gas-fired power plant and an LNG terminal.

According to analysts, Vietnam is emerging as a strategic destination for RoK firms to diversify their supply chains, mitigate risks from geopolitical fluctuations, and expand partnerships with local players in the coming period./.