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The top 10 companies in Vietnam by revenue, except for Samsung Vietnam, are all state owned. So definitely not controlled by Korean chaebols in any way whatsoev

The top 10 companies in Vietnam by revenue, except for Samsung Vietnam, are all state owned. So definitely not controlled by Korean chaebols in any way whatsoever. What are you talking about?

alephnerd 3y ago
Most chaebols such as Lotte and Samsung make multiple entities for each of their groups within VN (and those entities in turn try to hide taxes like crazy) So in Lotte's case, Lotte Shopping Vietnam JSC is different from Lotte Hotels Vietnam JSC is different from Lotte Cinemas Vietnam JSC. And I'm using Lotte as the most notable example. Samsung does the same thing as well - Samsung Electronics VN (Samsung Galaxy) is a separate entity from Samsung SDI VN (Samsung batteries). Most notably, Lotte Property & Development - not VinGroup (!!!) - owns the land in An Khanh Ward in District 2 of HCMC and is building Saigon's version of Pudong [0]. If you've ever been to Saigon you'll know this piece of land is easily the most expensive piece of undeveloped property in all of Vietnam as it's right across from Saigon's District 1 - the traditional CBD and Consulate quarter - and right next to the VIP neighborhood of Thao Dien. It's called the Lotte Eco Smart City. And this is just Saigon. If you go to Da Lat, Da Nang, Nha Trang, Cam Ranh, etc it's the same story. > The top 10 companies in Vietnam by revenue, except for Samsung Vietnam Where are you getting this data? The only somewhat reputable source is from one the VN trade ministries in 2018, which is towards the beginning of the Korean move to VN from China. Also, the fact that Samsung Electronics VN was able to outcompete every single petrochemical and military owned company by revenue in 2018 [1] in a country who's economy has been built on ONG extraction (the VN claim in the South China Sea has oil reserves the size of Prudhoue Bay and Natural Gas reserves roughly the size of Urengoy Gas Fields) and VPA ownership of industries (eg. Viettel, VinGroup's founder is from Vietnamese Air Force royalty) is massive Edit: There is a VN500 list but participation is optional. The only Korean chaebol divions that seemed to have participated were Samsung Electronics and CJ Agribusiness (part of CJ Group - the same chaebol that makes Bibigo food and produces Kdramas like Marry My Husband and movies like Parasite) [0] - https://mycasagroup.com/lotte-eco-smart-city/ https://mycasagroup.com/lotte-eco-smart-city/ [1] - https://mof.gov.vn/webcenter/portal/tttpen/pages_r/l/detail?dDocName=MOFUCM120380 https://mof.gov.vn/webcenter/portal/tttpen/pages_r/l/detail?...
- MichaelZuo 3y ago
  Vietnamese sources from 2023 have plenty of information and are credible… because it’s Vietnam. Many don’t publish in English, or publish only truncated versions in English. How do you not know this? Or do you not believe that they exist after 2018? Frankly, if you actually know what’s what, you would also know how to get copies of this information directly from the relevant ministries in Hanoi. So there’s no need to take my word, or any third party’s word, for it either way.
  - alephnerd 3y ago
    > Vietnamese sources from 2023 have plenty of information and are credible… because it’s Vietnam. Do you not believe that they exist after 2018 Participation in the VNR500 (the list the MoF mentioned in it's article in 2018) is optional and self reported [0]. I don't think YOU actually read the VNR500's rules and requirements. > you would also know how to get copies of this information directly from the relevant ministries in Hanoi I don't want to physically fly to Hanoi and ask for documents that I'm not even sure I'd be allowed to view. Most Ministries in Vietnam are extremely opaque and don't publish numbers and metrics openly, and when they do, they tend to publish it physically instead of digitally. Any numbers that get published digitally are difficult in turn to access aside from PR announcements, as a number of Vietnamese sites (government and private) rate limit access abroad. All we can say is total trade between VN and SK is approx $80B in 2023 [1], and South Korea has been the largest source of FDI in Vietnam since Đổi Mới [2]. I'd also recommend you visit Vietnam sometime to see the changes I'm talking about. > How do you not know this? I do NOT appreciate this tone. This is a forum and it's Sunday. I don't need to justify jack to you, this isn't 14.771 [0] - https://vnr500.com.vn/QAs-Bang-xep-hang-Top-500-doanh-nghiep-lon-Viet-Nam--VNR500-2016-6130-1009.html https://vnr500.com.vn/QAs-Bang-xep-hang-Top-500-doanh-nghiep... [1] - https://www.mofa.go.kr/eng/nation/m_4902/view.do?seq=38 https://www.mofa.go.kr/eng/nation/m_4902/view.do?seq=38 [2] - https://e.vnexpress.net/news/business/economy/recapping-a-35-year-journey-vietnam-s-fdi-4679123.html https://e.vnexpress.net/news/business/economy/recapping-a-35...
    - MichaelZuo 3y ago

The top 10 companies in Vietnam by revenue, except for Samsung Vietnam, are all state owned. So definitely not controlled by Korean chaebols in any way whatsoever. What are you talking about?

alephnerd 3y ago

Most chaebols such as Lotte and Samsung make multiple entities for each of their groups within VN (and those entities in turn try to hide taxes like crazy) So in Lotte's case, Lotte Shopping Vietnam JSC is different from Lotte Hotels Vietnam JSC is different from Lotte Cinemas Vietnam JSC. And I'm using Lotte as the most notable example. Samsung does the same thing as well - Samsung Electronics VN (Samsung Galaxy) is a separate entity from Samsung SDI VN (Samsung batteries). Most notably, Lotte Property & Development - not VinGroup (!!!) - owns the land in An Khanh Ward in District 2 of HCMC and is building Saigon's version of Pudong [0]. If you've ever been to Saigon you'll know this piece of land is easily the most expensive piece of undeveloped property in all of Vietnam as it's right across from Saigon's District 1 - the traditional CBD and Consulate quarter - and right next to the VIP neighborhood of Thao Dien. It's called the Lotte Eco Smart City. And this is just Saigon. If you go to Da Lat, Da Nang, Nha Trang, Cam Ranh, etc it's the same story. > The top 10 companies in Vietnam by revenue, except for Samsung Vietnam Where are you getting this data? The only somewhat reputable source is from one the VN trade ministries in 2018, which is towards the beginning of the Korean move to VN from China. Also, the fact that Samsung Electronics VN was able to outcompete every single petrochemical and military owned company by revenue in 2018 [1] in a country who's economy has been built on ONG extraction (the VN claim in the South China Sea has oil reserves the size of Prudhoue Bay and Natural Gas reserves roughly the size of Urengoy Gas Fields) and VPA ownership of industries (eg. Viettel, VinGroup's founder is from Vietnamese Air Force royalty) is massive Edit: There is a VN500 list but participation is optional. The only Korean chaebol divions that seemed to have participated were Samsung Electronics and CJ Agribusiness (part of CJ Group - the same chaebol that makes Bibigo food and produces Kdramas like Marry My Husband and movies like Parasite) [0] - https://mycasagroup.com/lotte-eco-smart-city/ https://mycasagroup.com/lotte-eco-smart-city/ [1] - https://mof.gov.vn/webcenter/portal/tttpen/pages_r/l/detail?dDocName=MOFUCM120380 https://mof.gov.vn/webcenter/portal/tttpen/pages_r/l/detail?...

MichaelZuo 3y ago
Vietnamese sources from 2023 have plenty of information and are credible… because it’s Vietnam. Many don’t publish in English, or publish only truncated versions in English. How do you not know this? Or do you not believe that they exist after 2018? Frankly, if you actually know what’s what, you would also know how to get copies of this information directly from the relevant ministries in Hanoi. So there’s no need to take my word, or any third party’s word, for it either way.
- alephnerd 3y ago
  > Vietnamese sources from 2023 have plenty of information and are credible… because it’s Vietnam. Do you not believe that they exist after 2018 Participation in the VNR500 (the list the MoF mentioned in it's article in 2018) is optional and self reported [0]. I don't think YOU actually read the VNR500's rules and requirements. > you would also know how to get copies of this information directly from the relevant ministries in Hanoi I don't want to physically fly to Hanoi and ask for documents that I'm not even sure I'd be allowed to view. Most Ministries in Vietnam are extremely opaque and don't publish numbers and metrics openly, and when they do, they tend to publish it physically instead of digitally. Any numbers that get published digitally are difficult in turn to access aside from PR announcements, as a number of Vietnamese sites (government and private) rate limit access abroad. All we can say is total trade between VN and SK is approx $80B in 2023 [1], and South Korea has been the largest source of FDI in Vietnam since Đổi Mới [2]. I'd also recommend you visit Vietnam sometime to see the changes I'm talking about. > How do you not know this? I do NOT appreciate this tone. This is a forum and it's Sunday. I don't need to justify jack to you, this isn't 14.771 [0] - https://vnr500.com.vn/QAs-Bang-xep-hang-Top-500-doanh-nghiep-lon-Viet-Nam--VNR500-2016-6130-1009.html https://vnr500.com.vn/QAs-Bang-xep-hang-Top-500-doanh-nghiep... [1] - https://www.mofa.go.kr/eng/nation/m_4902/view.do?seq=38 https://www.mofa.go.kr/eng/nation/m_4902/view.do?seq=38 [2] - https://e.vnexpress.net/news/business/economy/recapping-a-35-year-journey-vietnam-s-fdi-4679123.html https://e.vnexpress.net/news/business/economy/recapping-a-35...
  - MichaelZuo 3y ago