"Stable Supply of Raw Materials" Dongwha Enterprise Signs Agreement with Vietnam Rubber Group

[Financial News] Dongwha Enterprise announced on the 11th that it has signed a business agreement with Vietnam's state-owned enterprise 'Vietnam Rubber Group (VRG)'.
The agreement signed on the 9th aims to share and strengthen cooperation on key infrastructures such as technology, resources, and market networks owned by both companies. Dongwha Enterprise has decided to provide technology and operational know-how based on its accumulated expertise and experience. VRG will support the stable supply of raw materials and the establishment of a local partner network in Vietnam.
The signing ceremony was attended by Seung Jisoo, Vice Chairman of Dongwha Group, Chae Kwangbyung, CEO of Dongwha Enterprise, Le Thanh Hung, VRG General Manager, and Do Huu Phuong, VRG Vice President.
CEO Chae Kwangbyung said, "Since establishing the joint venture 'VRG Dongwha' near Ho Chi Minh, Vietnam in 2008, we have been conducting business locally for 17 years," and "We will closely respond to local business opportunities with high economic growth potential in Vietnam based on the trust and friendly partnership accumulated by both companies over the years."
Meanwhile, VRG operates rubber tree plantation and processing businesses and owns 115 subsidiaries. It operates rubber tree plantations of over 400,000 hectares in Vietnam, Laos, and Cambodia.

butter@fnnews.com Kang Kyungrae Reporter