Korean Venture Capital Poured into Vietnam

According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

In 2017, Korean President Moon Jae-in announced a new policy aimed at strengthening the relationship between Korea and ASEAN. These policies have boosted the dynamism of Korean companies to Southeast Asian business.

More and more companies in every field aim to Southeast Asia. Many of them, are venture capitalists.

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Over the past two years, Southeast Asian technology companies have signed numerous agreements involving Korean investors, such as the 50 million USD investment in Bukalapak e-commerce company of Mirae Asset-Naver Growth Fund, seed sponsorship deals for real estate startups from BonAngels Venture Partners and Kakao Ventures.

In addition to trade and real estate, Korean venture capital funds have poured money into almost every other important area of Southeast Asia including fintech (KIP’s investment in C88 in Singapore), car (SoftBank Ventures Korea in Singapore by Carro), travel (BonAngels and Nextrans in Vietnam) and logistics (Nextrans and FuturePlay into EcoTruck Vietnam).

In recent years, Korean venture capital companies have also established joint funds with partners in Southeast Asia to target startups in the region, including a cooperation fund worth 87 million USD of Korean Investment Partners with Golden Equator, the 100 million USD cooperation fund of Intervest and Kejora Ventures. The bigger ones are Hanwha Asset Management and Golden Gate Ventures with 200 million USD fund and most recently the investment fund of about 100 million USD of KB Investment and MDI Ventures.

In 2017, Southeast Asia’s private capital and venture capital surpassed Europe for the first time, with the amount of 23.5 billion USD invested in this area, nearly three times higher than in 2016, according to data from Singapore Venture Capital & Equity Association

(SVCA). Investments in startups doubles to 8 billion USD. In 2018, Alibaba invested an additional of 2 billion USD in Lazada while Indonesia’s Gojek closed the 1.5 billion USD funding round.

Korean investors pay special attention to Indonesia and Vietnam. According to the Vietnam Technology Investment Report of Cento Ventures and ESP Capital, 13 of 61 venture capital funds operating in Vietnam in the first half of 2019 are Korea.

According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

One of the reasons is that Vietnam is the market with the largest potential for internet growth worldwide.

That’s why so many businesses come to this region, and so many acquirers are actively looking for Southeast Asian companies. Silicon Valley giants like Google and competitors are beginning to look more seriously at Southeast Asian companies as an investment and acquisition opportunity.

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Korean Investor Proposed to Invest in 200 MW Hydroelectric Power Plant at Chan May – Lang Co

Chairman of the People’s Committee of Thua Thien Hue province has just had a meeting and worked with the Director of the Busan Economic Promotion Agency (Korea) (BEPA) to learn about investment and development opportunities in Thua Thien Hue Province.

At the meeting, Director of BEPA has informed about investment orientation and investment promotion plan of Busan city abroad, including investment cooperation in Vietnam.

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Through understanding the potentials and policies to attract investment of Thua Thien Hue province, the Korean agency wants to cooperate with Thua Thien Hue province to develop some investment projects and bring large enterprises in Busan to investment in the province.

Accordingly, the Korean side proposed to invest in a number of projects in Chan May – Lang Co Economic Zone of Thua Thien Hue province, namely investment in hydroelectric power plant, capacity of 200 MW and investment in construction of ports serving for the transportation of raw materials for power plants, and import – export activities. In addition, the Korean side wishes to study investment in infrastructure and industrial development investment projects in accordance with the investment attraction policy of Thua Thien Hue province in Chan May – Lang Co Economic Zone.

Chairman of Thua Thien Hue Provincial People’s Committee welcomed and highly appreciated BEPA’s desire and ideas for investment and development proposals in Thua Thien Hue province; Provincial departments and agencies will coordinate and create the best conditions for BEPA as well as Korean investors to study investment projects in Chan May – Lang Co Economic Zone.

For the investment in Hydro gas power plant, Chairman of the province proposed that BEPA should complete the dossier soon to submit to the Ministry of Industry and Trade for consideration and incorporation into the development investment plan and at the same time soon negotiate with EVN on the electricity prices serve as a basis for the effective investment of power plant in Chan May – Lang Co Economic Zone.

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Danang city Expands the Cooperation with Italia

On December 17th, 2019, the representative of Danang city met Mr. Dante Brandi the General ambassador of Italia paying a working visit to Danang.

In 2019, the export turnover to Italy is estimated at US $ 4.6 million, import turnover from Italy is estimated at US $ 4.1 million. Main export products are textiles, aquatic products, fishing rods and handicrafts. The main import items are medicine, electrical equipment, spare parts, and garment materials. At present, there are about 15 enterprises having import and export trade relations with the Italian market, 6 Italian investment projects in manufacturing, processing and services with the total capital is USD 1,2 mil.

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The representative of Danang city suggest Mr. Dante Brandi support the city to contact the Italian investors and enterprises in the hi-tech, environment, hi-service which is the strength of Italia and Danang is needing in the coming time.

At the moment, Danang didn’t have the official cooperation relationship with any cities of Italia; therefore Danang hopes Mr. Dante Brandi could introduce some cities of Italia where have the same character and the way to develop, therefore Danang can establish the relationship in the way to transfer the staffs to develop the city and environment management system.

Mr. Danta Brandi supports the relationship between Danang and other cities of Italia, establish the straight flight from Danang to Italia,… to increase the cooperation, development in travel of the two countries, in the time that many Italian investors wish to set up company to invest in Vietnam. And also it is planned to increase the programs on teaching the Italian language in the Danang Foreign Language University, open the sport cars exhibitions, attract the Italian enterprises expand and operate their business in Danang,…

The representative of Danang wishes to attract more and more the Italian investors to develop the investment relationship between Danang and Italia in the future. Besides, the cooperation with Italia will help Danang to develop the targets of the city in travel, hi-tech, and environment direction.

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Quang Ninh Is About to Receive 40 Million USD of FDI From Korean Investors

Recently, Chairman of Bumjin Electronic Company from Korea had a meeting with Chairman of Quang Ninh People’s Committee on the implementation of the project in Quang Yen town.

Accordingly, the Company is preparing to deploy the investment project to build audio equipment factory in Dong Mai Industrial Park, Quang Yen Town, Quang Ninh Province with a total investment of 40 million USD. It is expected that the project will be started construction and go into production in December 2019.

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Chairman of Quang Ninh People’s Committee affirmed that the investment project of Bumjin Electronic Company is the area that Quang Ninh province is prioritizing to attract investment. To ensure on time schedule that the company has set, Quang Ninh province confirmed to provide maximum support during project implementation.

He also shared with investors that Quang Ninh province is proposing the Government to allow the establishment of Quang Yen coastal economic zone with better preferential policies. At the same time, Chairman of Quang Ninh People’s Committee expressed his desire that besides the project implementation, Bumjin Electronic Company will become a bridge to connect Quang Ninh and Korean investors, contributing to promote investment activities of Korean businesses in Quang Ninh in the future.

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