On Thursday, in Da Nang, Mr. Hong Joon Pyo, the Mayor of Daegu in South Korea, signed a Memorandum of Understanding with Trung Nam Group - one of Viet Nam’s largest energy groups - to boost cooperation in renewable energy and technology industries.

Representatives from Daegu City in South Korea and the Trung Nam Group signed a Memorandum of Understanding on boosting cooperation in high-tech and information technology manufacturing industries. Photo: G.P

The cooperation agreement will open up a new opportunity for South Korean enterprises to invest in Da Nang and member units of Trung Nam Group’s multi-industry ecosystem.

Trung Nam Group is currently the leading investor in Viet Nam in the fields of renewable energy, infrastructure, construction, real estate, and information technology.

The delegation of Daegu City were briefed on the operating situation of Trung Nam Group. Photo: G.P

Currently, Trung Nam Group is developing many large-scale projects in localities nationwide such as Ninh Thuan, Dak Lak and Tra Vinh, contributing more than 1.6 GW of electricity to the national electricity grid. It is the only private enterprise in the country to participate in the power transmission process with 500kV transformer stations and 500kV and 220kV lines connected to the national power system. The group actively accompanies the Vietnamese government in reducing carbon emissions.

Daegu City expected that the signing ceremony will open up more opportunities to promote exchange activities with Da Nang in the time to come. In late 2022, Viet Nam was Daegu's 3^rd largest export market with a total value of US$454 million. The main export items included fabrics, industrial equipment and auto parts.

Reporting by GIA PHUC - Translating by M.DUNG