The signing took place last week when the representative of Daegu visited the central city of Danang.

With a plan to promote business connections and relationships between the two countries in the fields of energy and IT, the signing ceremony has opened up a new opportunity for Korean businesses to explore and invest in Danang.

Trungnam Group is a leading investor in Vietnam in the fields of renewable energy, infrastructure, construction, real estate, and IT. The group has implemented many large-scale projects in localities throughout the country such as Ninh Thuan, Dak Lak, andTra Vinh, with more than 1.6 GW of electricity contributed to the power grid.

Trungnam Group is also the only private enterprise in Vietnam to participate in the process of transmitting electricity with a 500kV substation and 500kV, 220kV power lines connected to the national power system, accompanying the Vietnamese government in the process of reducing carbon emissions.

Daegu expects that the signing ceremony will open up more positive exchanges between Daegu and Danang. As of the end of 2022, Vietnam is the third-largest export market for Daegu with a value of $454 million, including main export items such as fabric, industrial equipment, and auto parts.