Korean retail group Y-Mart wishes to cooperate and invest in Nghe An

Overview of the meeting. Photo: Thu Huyen

Previously, in October 2022, a working delegation of the Gwangju City Government led by the Vice Mayor and Vice Chairman of the Council visited and worked in Nghe An. Also on this occasion, the two localities signed a friendly cooperation agreement in many fields. Since then, the two sides have had many delegation exchange activities. The activities of Y-mart Group today in Nghe An are also activities within the framework of the cooperation agreement between the two localities.

At the meeting, Mr. Seongjin Kim - CEO of Y-Mart Retail Group said: Through the memorandum of understanding between the two governments in October 2022, the two sides have had cooperation and hope to connect more in the coming time.

Mr. Seongjin Kim - CEO of Y-Mart Retail Group discussed the investment cooperation wishes with Nghe An. Photo: Thu Huyen

The Group is interested in promoting investment in Nghe An, surveying and learning about kitchenware products of Hong Son Production and Trade Company Limited, and clean vegetables, fruits, dried squid... of the province. We are also considering exporting Korean products to Nghe An market such as green grapes... Therefore, we hope to establish a legal entity in Nghe An to increase import and export activities, attract investment, sign contracts and have the first order with Hong Son Production and Trade Company Limited.

In addition to investing in import and export, Y-Mart Company also wants to recruit workers to work in Korea for the group. After working in Korea, they will return to work for the Y-Mart supermarket system that is expected to be invested in Nghe An in the near future. They hope that the province will create conditions for leasing land in the Vinh city area or in the form of joint ventures and associations to open a chain of retail supermarkets; at the same time, they are requested to consider opening a charter flight route from Nghe An to Korea...

Vice Chairman of the Provincial People's Committee Bui Dinh Long spoke at the meeting. Photo: Thu Huyen

Speaking at the meeting, Vice Chairman of the Provincial People's Committee Bui Dinh Long shared his joy in welcoming members of the Y-Mart Retail Group delegation to visit and work in Nghe An. Through some of the province's economic and social situations, the Vice Chairman of the Provincial People's Committee said that in order to achieve these results, in recent years, Nghe An province has always paid attention to administrative reform, promoted the improvement of the investment and business environment, strongly promoted investment attraction; focused on supporting and removing difficulties and obstacles for businesses and investors; prioritized investment in infrastructure systems, especially transport infrastructure such as seaports and airports; focused on investing in infrastructure of industrial parks and industrial clusters to attract investment. These are important premises to effectively exploit and promote the advantages of Nghe An province.

Presenting souvenirs to Y-Mart Group. Photo: Thu Huyen

Regarding the proposals of Y-Mart Group, Vice Chairman of the Provincial People's Committee Bui Dinh Long discussed in detail in the spirit of accompanying and providing full support so that the strategies and projects of Y-Mart Group in Nghe An can soon come into operation. The Vice Chairman of the Provincial People's Committee also assigned relevant departments and branches to coordinate and handle the matter, so that the group can research and invest. Hopefully, this visit of Y-Mart Group will be a big step forward in investing in expanding the market of Y-Mart Group in Nghe An.