General Director of National Office in Southern Region - Ministry of Science and Technology worked with Vice Chairman of STIC Investments, Republic of Korea.

On April 14, General Director Vu Van Khiem had a meeting with Mr. Byung Won Choi, Vice Chairman of STIC Investments.

At the meeting, Mr. Choi introduced that STIC was established in 1999 with his capital forty-two million dollars. Over 15 years of development, STIC’s capital was up to approximately 3.4 billion by July 2014. STIC has various types of investment approaches focusing on new technology development, production expansion in terms of developing product by research and development (R & D) of the enterprise. STIC now has 7 offices in Seoul, Busan (Korea), Hong Kong, Shanghai (China), Taipei (Taiwan), Ho Chi Minh City (Vietnam) and Palo Alto (California, USA). Since its inception, STIC has invested in 340 enterprises in many different areas, and has completed IPO for 70 businesses among them. In Vietnam market, Mr. Choi wanted STIC will accompany with Vietnam's enterprises to achieve success together.
Mr Vu congratulated the success of STIC and hope that STIC will invest to appropriate Vietnam enterprises which are eager to expand production towards developing products with high scientific content by R&D activities.

On the same day, General Director and Mr. Choi visited Kim Binh Industrial Corporation (KBI), a company in producing generators and machinery for agriculture.

After visiting the factory, KBI’s Chairman Le Quang Canh said that his company has been established since 2007 (with 54% of shares of Hoa Binh Trade JSC which chaired by him also). The average annual turnover of company is around 12-15 million USD, the output volume is about 50,000 products/ year, and it has about 215 distribution agents nationwide. He further said that Vietnam has developed agriculture, so the KBI’s orientation in further 5 years is to research and to develop machinery and equipment for agriculture. Currently, R & D department of KBI is researching new products, in accordance with the conditions of agriculture in Vietnam. And he also hopes that at the end of 2015, new products of KBI will be tested in several provinces of Mekong Delta where agriculture is the most developed sector of the country. Therefore, KBI in the future also need domestic and international support of investment organizations to expand its business.

At the meeting, the two sides exchanged information such as the possibilities of KBI to expand their production factory as well as the wishes of STIC to invest for KBI and other relevant information ... The two sides will continue to explore other issues from each other to jointly develop.

Speaking at the meeting, General Director Vu Van Khiem appreciated KBI’s production and business results and his Agency will continue to serve as a cooperation bridge for Vietnamese and foreign organizations as well as businesses in order to develop the products which build up from R & D activities. He also hoped that KBI and STIC will have good cooperation in the future.

Source: National Office in Southern Region - Ministry of Science and Technology