SEOUL--June 21, 2019 -- Hyosung Chairman Cho Hyun-Joon met with Vietnam’s Deputy Prime Minister Vuong Dinh Hue on June 19 during the latter’s visit to Seoul, and they promised to strengthen their cooperation.

Deputy Prime Minister Hue acts as an economic command center in charge of the Ministry of Finance, the Ministry of Planning and Investment and the State Bank of Vietnam.

Chairman Cho briefed Deputy Prime Minister Hue on Hyosung’s two plants under construction in Vietnam -- a PP plant in Ba Ria-Vung Tau Province and a tire cord plant in Quang Nam Province, and asked for the Vietnamese government’s support.

“Vietnam is critical to Hyosung (KRX:004800) as its global manufacturing base where all of its core products are being produced,” Chairman Cho said, “I hope we will keep up our friendly relationship and strengthen our cooperation.”

“Hyosung is one of the largest investors in Vietnam. I will actively support its projects to build a PP plant in the southern province of Ba Ria-Vung Tau and a tire cord plant in the central province of Quang Nam,” Deputy Prime Minister Hue said.

Chairman Cho has been meeting with top government officials of Vietnam to maintain his friendly relations with them. In 2016 and 2018, he met with Vietnamese Prime Minister Nguyen Xuan Phuc to discuss its business cooperation with the country.