At the recent Vietnam-Korea Business Forum, CMC Corporation (CMC) exchanged memorandums of understanding with Korean partners KSP Steel and RSupport. This collaboration aims to advance technology applications in digital transformation.
The forum, part of Prime Minister Pham Minh Chinh’s official visit to Korea, saw the participation of over 500 delegates, including leaders from various ministries, localities, and businesses from both Vietnam and Korea. This significant event provided a valuable opportunity for leaders and enterprises to discuss and align key objectives to enhance investment and trade relations.
The year 2024 is poised to be a milestone in the Vietnam-Korea relationship. Korea ranks first in direct investment, second in development cooperation and tourism, and third in labor and trade cooperation with Vietnam. Notably, Korea is Vietnam’s largest direct investment partner, with registered capital reaching $87 billion by April, making up 18.25% of Vietnam’s total FDI. Bilateral trade turnover in 2023 reached $76.1 billion, and export turnover in the first four months of the year hit $25.5 billion, a 4% increase from the same period in 2023. Additionally, cooperation between Vietnam and Korea is flourishing in various fields, including urban transport infrastructure, healthcare, education and training, environmental protection, clean energy, and information technology.
In his speech at the forum, Prime Minister Pham Minh Chinh highlighted the exceptional development of Vietnam-Korea relations over more than three decades. He noted that the trustworthy and practical cooperation between the two countries is thriving, grounded in shared values and strategic interests.
The cooperation agreement exchange ceremony occurred on July 1 within the Vietnam – Korea Business Forum framework in Seoul, Korea.
Representing CMC at the Forum were Mr. Young Eon Kwon, General Director of CMC Korea, and Mr. Nguyen Ngoc Giang, Director of the Korea Production and Business Center at CMC Global. During the Forum, and in the presence of senior leaders from both Vietnam and Korea, CMC Corporation signed memorandums of understanding with its Korean partners, KSP Steel and RSupport. These agreements aim to enhance the application of technology solutions and drive digital transformation for Korean partners.
The collaboration focuses on advanced technologies, including the development of Manufacturing Execution Systems (MES), smart factory solutions, and the application of artificial intelligence (AI) to boost the digital transformation efforts of businesses.
Mr. Nguyen Ngoc Giang of CMC Corporation and Mr. Choi Jae Sam, Director of Technology at KSP Steel,exchanged the Memorandum of Cooperation Agreement in the presence of Prime Minister Pham Minh Chinh and senior Korean leaders.
CMC has a history of collaborating with top Korean companies and technology corporations, establishing itself as a leading partner in digital transformation. CMC not only provides advanced technology solutions but also collaborates with clients to implement digital transformation processes in Korea, showcasing the Group’s commitment to investing in and developing technology, particularly in artificial intelligence (AI). The recent opening of a CMC office in Korea further solidifies this commitment to expanding and investing in the country.
Mr. Nguyen Trung Chinh, Chairman of CMC Corporation, stated, “CMC is honored to be chosen as a reliable partner to address the IT challenges of Korea’s leading enterprises on their digital transformation journey. We will continue our commitments by contributing to the development of advanced technology solutions, aiming for a more sustainable future. Through this, CMC aspires not only to make a mark in the global technology market but also to help build a prosperous digital society in Korea.”
With over 31 years of development, CMC Corporation is set to work with partners to handle current challenges such as climate change and to lead the way in green technology trends, contributing to the development of advanced technological solutions for a sustainable future. CMC’s commitments to partnering with Korean businesses underscore its dedication to supporting Korea’s digital transformation journey by helping them apply advanced technology and achieve their digital transformation goals.
