S Korean companies aid VN development

The conference, the first of its kind on Korean corporate social responsibility (CSR), was organised by the South Korean Embassy, Korean Chamber of Business in Viet Nam, Korea Trade-Investment Promotion Agency and the Ministry of Planning and Investment.

The commitment of Korean businesses to contribute to Viet Nam's sustainable economic development is seen in the large number of CSR initiatives launched by corporations such as Asiana Airlines, CJ Group, Daum Kakao Corporation, Lock & Lock Vina, Nonghyup Bank and Samsung Electronics.

The CSR programmes covered healthcare, culture, education and the environment as well as the reduction of poverty and the development of rural areas in the country.

Besides launching scholarships and opening schools and libraries, Korean companies have also taken part in local blood donation drives and environmental protection activities. Two Korean banks also supported Vietnamese brides, who were returning to visit their families.

Deputy Minister of Planning and Investment Nguyen Van Trung expressed appreciation for the Korean CSR programmes, considering them meaningful for the sustainable development of the country, especially in the context of South Korea being Viet Nam's largest investor in terms of investment volume and number of projects.

South Korean ambassador Jun Dae Joo said, as of this August, the cumulative investment of South Korea in Viet Nam had reached US$43 billion. He believes that when the Vietnam Korean Free Trade Agreement goes into effect this year, the targeted bilateral trade of $70 billion by 2020 between the two countries will become achievable.