Aiming to bring South Korea's experience and advanced technology in the construction sector to Vietnam, a Vietnamese company and its Korean partner have signed a strategic cooperation agreement.

Overview of the signing ceremony. Photos: The Hanoi Times

In December 2022, Vietnam and South Korea established a comprehensive strategic partnership, laying important legal groundwork to promote trade and investment cooperation between the two countries in general and in the construction investment sector in particular. In June 2023, Vietnam hosted the Vietnam-South Korea Business Forum, which brought together over 500 enterprises representing more than 9,000 South Korean businesses currently operating in Vietnam.

Continuing in the spirit of cooperation, after a period of negotiation, on April 5, a signing ceremony was held in Hanoi for a cooperation agreement between TAD E&C Construction Joint Stock Company (Vietnam) and Sungwoo ID Construction Company (South Korea), focusing on advanced technology construction.

Speaking at the ceremony, Board Chairman of TAD E&C Pham Hong Anh emphasized the company’s desire to receive support from Sungwoo ID in the areas of human resources training and development, construction investment cooperation, information exchange, experience sharing in construction using advanced technology, quality management practices, and implementing specific project tasks.

“TAD E&C, though a young company, is oriented towards professionalism and quality in construction, bringing investment efficiency to clients,“ said Anh.

Board Chairman of TAD E&C Pham Hong Anh.

By working with Sungwoo ID, a company with extensive experience and expertise in high-tech construction, TAD E&C aims to achieve its goals and plans more effectively, he noted.

Vice Chairwoman of the Board of TAD E&C Ha Thi Thu Nga said that the purpose of this cooperation agreement is not only to harmonize the interests of two companies specializing in construction with advanced technology but also establish a strategic partnership between Vietnamese and South Korean enterprises.

“Sungwoo ID's prestigious position in the construction sector of South Korea will enhance the strategic cooperation between the two companies, fostering remarkable development in construction incorporating advanced technology in Vietnam,” said Nga.

Meanwhile, the Vice Chairman of the Board of Sungwoo ID Jang Sang Kyun expressed his confidence in the success of this collaboration. He stated that Vietnam is an important country for South Korea with abundant resources and development potential, making it an attractive market for construction investment.

Vice Chairman of the Board of Sungwoo ID Jang Sang Kyun.

Sungwoo ID is committed to making every effort to ensure the success of this collaboration, leveraging TAD E&C's advanced techniques and resources to address challenges and achieve significant outcomes in the future, he noted.

According to Jang, there are already many large South Korean enterprises investing in Hanoi, resulting in numerous ongoing and future construction projects. This strategic cooperation agreement will serve as a legal foundation for Sungwoo ID and TAD E&C to jointly implement construction projects for these major South Korean investors in Vietnam, he continued.

Sungwoo ID believes in maintaining a long-term partnership with TAD E&C to foster sustainable development in Vietnam and to expand to the entire Southeast Asian market shortly, he stressed.

At the ceremony, the leaders of both enterprises expressed their joy and confidence that the signing of the cooperation memorandum would open up opportunities for mutual development, hoping for successful cooperation and mutually beneficial sustainable development. In the future, TAD E&C and Sungwoo ID will collaborate to implement many large-scale projects invested by South Korea in Vietnam.