Seoul City Collaborates with Vietnam on Smart Mobility to Support Korean Companies' Market Entry

Oh Se-hoon to Establish Cooperation System with Vietnam Ministry of Science and Technology
Visits Samsung Vietnam Factory to Review Entry Stability
Meeting with Korean Businesspeople and Startup Leaders in Vietnam

On the afternoon of the 3rd (local time), Seoul Mayor Oh Se-hoon is taking a commemorative photo after signing the SBA-NATEC startup overseas accelerating advancement LOI at Seoul Startup Hub Ho Chi Minh. (Photo by Seoul City Joint Press Corps)

[Ho Chi Minh City (Vietnam) = Asia Economy Reporter Kim Hyemin] The Seoul Metropolitan Government has taken proactive steps to support domestic smart mobility companies in entering the Vietnamese market. Vietnam is recognized as a market of opportunity, aiming for a 100% transition to electric vehicles by 2050 and promoting unprecedented tax incentives.

On the 3rd at 2:20 PM (local time), Seoul Mayor Oh Se-hoon held a proclamation ceremony at the Seoul Startup Hub Ho Chi Minh with Nguyen Hoang Giang, Vice Minister of Vietnam’s Ministry of Science and Technology, to establish technological partnerships and cooperation systems in smart mobility and other fields. Following this, the Seoul Business Agency (SBA) and the National Agency for Technology Entrepreneurship and Commercialization Development (NATEC) under Vietnam’s Ministry of Science and Technology signed a Letter of Intent (LOI) for joint cooperation.

The LOI focuses on supporting domestic smart mobility-related companies to enter the Vietnamese market by emphasizing company discovery, technology partnerships, and industry-academia cooperation. Additionally, the Seoul Startup Hub Ho Chi Minh, which supports startups entering the local market, will add a separate office space for technological partnerships between companies of both countries and operate under the name "Seoul-Ho Chi Minh Tech Trade Center." The city plans to expand its corporate support system from this smart mobility cooperation to cover the entire range of 4th industrial revolution technologies such as artificial intelligence (AI) and robotics.

Seoul Mayor Oh Se-hoon is touring the product exhibition hall of the Ho Chi Minh Samsung Electronics Home Appliance Complex located in Saigon Hi-Tech Park on the morning of the 3rd (local time). (Photo by Seoul City Joint Press Corps)

Earlier, at 10 AM (local time), Mayor Oh visited Samsung Electronics Ho Chi Minh Home Appliance Complex (SEHC), located in the Saigon Hi-Tech Park established by the Vietnamese government to attract global advanced companies. He toured products such as a 98-inch TV and robot vacuum cleaners and inspected the production site. Yoon Cheol-woon, Vice President of Samsung Electronics SEHC, accompanied him on site.

Mayor Oh stated, "There are many Korean companies in China, but since Korea-China relations often take unpredictable directions, I hoped that production bases in Southeast Asia would be expanded. I came to check Vietnam’s locational conditions and to compare the advantages and disadvantages with China." He added, "Factories in Southeast Asia, such as Vietnam and Indonesia, can effectively serve as safety nets. They can also play a significant role in forming a desirable relationship between Vietnam and Korea."

Following this, Mayor Oh held consecutive meetings with Korean businesspeople and startup representatives operating locally to discuss local difficulties and Seoul’s support measures. He said, "We will support contributions to the development of 4th industrial technologies and job creation in both countries. I hope this cooperation project will lay the foundation for the demonstration and commercialization of technologies and services such as electric vehicles and autonomous driving between the two countries."

This content was produced with the assistance of AI translation services.