Mr. Dang Minh Truong, Chairman of Sun Group's Board of Directors, presented this information during a roundtable discussion on 23/4. This discussion was held as part of a high-level meeting between the Vietnamese and South Korean governments and business communities.
Mr. Truong emphasized that cooperation between businesses of the two countries should evolve from an investment relationship into a long-term strategic partnership. Phu Quoc, with its vision to become an international tourism and service hub, will be a key location for implementing these innovative models, creating opportunities for South Korean retail brands and operators.
Accordingly, the group proposed expanding cooperation in retail and tourism retail, with a focus on developing shopping centers, outlets, and duty-free shops at various destinations.
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Mr. Dang Minh Truong, Chairman of Sun Group's Board of Directors. *Photo: Sun Group*
The second pillar involves hotels and serviced apartments. Sun Group is developing a multi-segment accommodation system nationwide, particularly in Phu Quoc, which will host the APEC 2027 Summit. Therefore, the group invites South Korean businesses to explore participation opportunities.
The group also expressed its desire to cooperate with South Korean partners in developing cultural industries, including content production, entertainment product development, and theme parks.
Additionally, Sun Group's leadership seeks cooperation with South Korea in strategic investment, long-term capital flow, and new-generation digital business. According to the group, these areas can leverage the complementary strengths of the two economies, with South Korea excelling in technology and operations, and Vietnam offering growth potential in market and tourism.
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Prime Minister Le Minh Hung and South Korean President Lee Jae Myung attend the roundtable discussion with business representatives from both countries. *Photo: Duong Giang*
The roundtable discussion on economic, trade, and investment cooperation between Vietnam and South Korea saw the participation of many major enterprises. South Korean participants included Samsung, SK, Hyundai, and LG. Vietnamese participants included Sun Group, FPT Group, and other key state-owned economic groups.
Economic relations between Vietnam and South Korea have maintained growth for many years. In 2025, bilateral trade turnover reached approximately 89,5 billion USD, with the first quarter of 2026 alone reaching 26,9 billion USD. During a recent state visit, both sides set a target to increase turnover to 150 billion USD by 2030.
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Sun Group's Sunset Town in Phu Quoc. *Photo: Sun Group*
Given Vietnam's continued large trade deficit with South Korea, enhancing the capacity of domestic enterprises is crucial for deeper integration into the value chain. Sun Group currently develops tourism, real estate, and infrastructure ecosystems in various locations such as Da Nang, Sa Pa, and Phu Quoc.
According to the group, in 2025, destinations developed by Sun Group welcomed approximately 1,9 million South Korean visitors, representing a significant portion of total international arrivals. In the first quarter of 2026, this number reached nearly 600.000.
With APEC 2027 approaching in Phu Quoc, Sun Group is investing 22.000 trillion dong to develop a conference and exhibition center meeting international standards and upgrade the international airport to achieve ICAO 4E standards.
Hoai Phuong
