Kocham Chairman: 'Frequently Changing Regulations a Variable in Vietnam Investment Strategy'

In an interview with Financial News at the Kocham office in Hanoi on the 7th, Ko Tae-yeon, Chairman of the Korean Chamber of Commerce in Vietnam (Kocham), emphasized that Vietnam has transformed from a simple production base into a strategic partner that builds technology and supply chains together. Chairman Ko, who spearheaded the establishment of LG Group's Hai Phong production complex, took office as the 16th chairman last year and has been actively voicing on-site opinions through relevant channels after listening to the voices from the field.

As Vietnam upgrades its industrial structure, it is strengthening regulations related to the environment, energy, data, and labor. Chairman Ko mentioned that companies entering the market must constantly check for changes in laws and systems and overhaul their risk management systems. Eco-friendly management has established itself as a key factor directly linked to corporate performance. Aligning with the trend of tightening environmental regulations, companies that go beyond simple corporate social responsibility activities to build ESG management systems are gaining trust in the local market.

Established in 1998, Kocham maintains frequent contact with the Vietnamese central and local governments to reflect the positions of Korean companies in policies. It continues to hold roundtable meetings with local governments in regions such as Vinh Phuc, Hai Phong, and Hung Yen, centered on Hanoi, and collects difficulties arising in the field, such as taxes, tariffs, and customs clearance, to convey them to the Vietnamese government. Kocham also serves as an information sharing platform to connect small and medium-sized enterprises (SMEs) and startups, which relatively lack information and networks, with reliable experts and senior companies.