Korean logistics project gets underway in northern Vietnam

Jeil Group from South Korea on Tuesday held a ground-breaking ceremony for its Jeil Logistics 1 project in Nam Dinh Vu Industrial Park in the port city of Hai Phong, northern Vietnam.

Speaking at the ceremony, chief financial officer of Jeil Group Kim Eun-sook said that the group, established in 1978, is currently ranked 15th among construction contractors in South Korea.

She said the Jeil Logistics 1 project will provide a logistics warehouse, as well as a core infrastructure in the supply chain and distribution sector in Vietnam.

With the application of the most modern logistics system and effective supply chain management structure, the project will provide logistics services faster and more accurately, contributing to reducing logistics costs and improving competitiveness.

The project will certainly have a positive impact on creating new job opportunities and promoting economic development in the region, she said.

Le Trung Kien, head of the Hai Phong Economic Zone Authority, said that Hai Phong is aiming to develop green, ecological and circular industrial parks. It is expected that in 2025, Hai Phong will convert several industrial parks to green industrial zones.

Kien noted that Hai Phong currently has more than 1,000 foreign-invested projects with total investment capital of about $40 billion. Out of 42 countries and territories investing in the city’s industrial parks and economic zones, South Korea ranks first with 111 projects and total registered capital of $13 billion, accounting for more than 46% of the total.

He also said that together with other large corporations from South Korea, Jeil Group will contribute to the city’s socio-economic development and serve as a bridge connecting Hai Phong, Vietnam and South Korea.