Laos-Korea Economic Association Inaugural Chairman Selected as 'O Se-young, Chairman of Korao Group'

[Asia Economy Reporter Hyunseok Yoo] The Laos Korean Chamber of Commerce and Industry (KOCHAM) announced on the 18th that at the inauguration ceremony held in Laos on the 5th, Mr. O Se-young, chairman of Korao Group, which is actively engaged in global management, and CEO of LVMC Holdings, was selected as the first chairman of KOCHAM.

Chairman O Se-young moved to Laos in 1997 and started the automobile assembly and sales business. He founded Korao Group and Indochina Bank, steadily growing the business, and recently expanded actively into Indochina Peninsula countries such as Vietnam, Myanmar, and Cambodia.

Korao Group pays taxes equivalent to 11% of the Laos government budget and is listed domestically under LVMC Holdings.

Chairman O Se-young has been awarded the Order of Valor, the Order of Economic Development, and the Labor Order by the Laos government. At this inauguration ceremony, he donated $130,000 USD to support the development of the Korean Chamber of Commerce in Laos, the Korean Association in Laos, the Korean Junior Chamber in Laos, and the Korean Sports Council in Laos.

The Chamber of Commerce aims not only to increase trade and investment in Laos but also to further expand business areas with Korea and strengthen cooperation between the two countries. It is expected to create an opportunity to overcome the COVID-19 crisis and achieve economic recovery by promoting regional trade, expanding investment, and strengthening economic cooperation.

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