RoK’s Lotte Card injects 68 million USD into Vietnamese unit
Lotte Card Co., Ltd, No.5 credit card issuer in the Republic of Korea, said on May 2 that it has funneled 93.7 billion KRW (68 million USD) into its Vietnamese unit - Lotte Finance Vietnam - to expand its business in the Southeast Asian country.
Lotte Card Co., Ltd has funneled 93.7 billion KRW (68 million USD) into its Vietnamese unit. (Photo: Korea Time)
Seoul (VNA) – Lotte Card Co., Ltd, No.5 credit card issuer in the Republic of Korea, said on May 2 that it has funneled 93.7 billion KRW (68 million USD) into its Vietnamese unit - Lotte Finance Vietnam - to expand its business in the Southeast Asian country.
This is the largest capital increase since the card issuer began its business there in 2018, which indicates that the firm will accelerate expansion in the nation as business there has stabilised to a sustainable level.
A Lotte Card official said that the firm aims to become a financial company with a strong foothold in Vietnam based on a stable business structure.
Lotte Card acquired Techcom Finance Co.,Ltd, a Vietnamese consumer finance service provider six years ago to make inroads into the market.
The Korean firm developed its own credit ratings model, and established a risk-based pricing system to offer customers in Vietnam interest rates tailored to their credit ratings.
♈ Besides, it expanded a buy now, pay later (BNPL) service, a type of short-term financing that allows customers to make purchases and pay for them at a future date, often without interest./.
Lotte is on the way to expanding its presence in Asia by launching Lotte Mall West Lake Hanoi – a mega commercial complex with the concept of “A One-Day Trip in the City”, aiming to offer Vietnamese people a number one shopping experience in the region.
Vietnamese bananas have hit the shelves of Lotte Mart in the Republic of Korea (RoK) - the first time the fruit has been distributed in the country via a large supermarket chain.
The Republic of Korea (RoK)’s Lotte Duty Free company opened a duty-free store at Noi Bai international airport in Hanoi on July 28, one year after the launch of the second of its kind in Nha Trang.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
