FLC about to open office in Seoul, comprehensive cooperation with KB Security

FLC about to open office in Seoul, comprehensive cooperation with KB Security

Thứ Ba, 21/11/2017, 08:28


On 20th of November, the event of introducing Vietnam’s real estate resort and golf courses held by the FLC Group has taken place at the InterContinental Coex Hotel, Seoul, Korea, attracting the participation of more than 400 individual investors, travel agents, financial institutions, investment funds and real estate firms.

At the event, there is the presence of Vietnamese Vice Minister of Foreign Affairs Vu Hong Nam; Vietnamese Ambassador to Korea Nguyen Vu Tu; Korean Vice Minister of Industry and Trade Woo Tae Hee; Yongsan District’s Mayor Jang Hyun-Sung and Chairman of FLC Group Trinh Van Quyet.



Within the program’s framework, the FLC’s management board directly answers questions from the guests regarding FLC's investment procedures in real estate projects for foreigners, orientation and cooperation fields of FLC in Korea in the future.

Complementary advantages and tourism strength

In the opening speech, Mr. Tran Quang Huy - General Director of FLC claims that this is an event held before the 25th anniversary of the establishment of bilateral diplomatic relations between Vietnam and Korea. (22/12/1992 - 22/12/2017).



"History has proven that the relationship between Korean and Vietnamese enterprises is not a competitive one, but a mutually beneficial relationship. Along with the traditional association and the cultural and historical similarities, the mutual effort of the Vietnamese – Korean business community have contributed to regional and global development," says FLC’s general director.


Mr. Tran Quang Huy, FLC’s General director.


Mr. Huy hopes this event will be an ideal opportunity for the businesses and FLC's partners to exchange useful, concise and concrete information through cooperative investment actions.


Vice Minister of Foreign Affair Vu Hong Nam presents at the event.

Recognizing the nature of mutually beneficial cooperation between Vietnamese and Korean businesses, Vietnamese Vice Minister of Foreign Affairs Vu Hong Nam explains that Vietnam and Korea are laid in two different climatic zones, this has created the complementary advantages of the two countries' economies, especially in tourism, resort and sports entertainment for golfers.

Having the advantage of a long, beautiful and warm coastline throughout the year, Vietnam is an ideal place for northern people to relax in the winter months. And notably, in recent years, there are a large number of Korean tourists coming to Vietnam annually.


The event attracting the participation of more than 400 individual investors, travel agents, financial institutions, investment funds and real estate firms in Korea and Asia.

"With the motto of constantly innovating, promoting a comprehensive investment to develop and provide products - services of high quality with reasonable price and environmental friendly, FLC is gradually becoming a multi-sector corporation with a strong brand name in Vietnam and step by step reaching out to the international market, in which real estate, golf course, resort, villa and high class entertainment projects are being attracted by many domestic and foreign investors," says Vice Minister Vu Hong Nam.

At the event, Mrs. Nguyen Hoai An, Director of Consulting and Services Department of CBRE, says that in the field of resort real estate, Vietnam is considered a new tourist destination for Korea in the recent years. According to statistics, up to 30% of foreign golf tourists in Vietnam come from Korea.


Mrs. Nguyen Hoai An, Director of Consulting and Services Department of CBRE.

About the purchase and ownership of Vietnamese real estate for foreigners, the law has allowed ownership since 2015 as well as removed almost of barriers in the procedure of buying or renting real estate in Vietnam for foreign investors. If investors have a valid visa, there is unlimited number of real estate products they could purchase.



As for the tax issue, the types and the quantity of tax payable by foreign investors are higher than that of the Vietnamese. However, on CBRE Vietnam's observation, the actual tax paid by foreign investors is not much higher.

Diversification of investment methods

In the context of the event, many questions about investment procedures in Vietnam have been conveyed to the FLC leaders and guest speakers.

Answering about why choosing Korea as a foreign point to promote its business activities after Singapore and Japan, Mr.Trinh Van Quyet, FLC’s chairman reveals several reasons.


Signing ceremony between FLC and KB Securities Vietnam Joint Stock Company in providing financial products and services in Vietnam and international market.

First, Korea is a major foreign investor of Vietnam. Second, Korea has many cultural similarities with Vietnam. Third, FLC has been focusing on attracting investment from developing country. Fourth, business fields of FLC, including resorts and golf courses tourism, are attracting many Korean investors’ interest.

FLC has been present in many coastal provinces such as Thanh Hoa, Binh Dinh, Quang Ninh... with projects of resort complexes, villas, golf courses... To attract foreign investors, Mr. Quyet says FLC will concentrate on developing 18-hole international standard golf resort projects that have advantageous natural resources located between sea and river. FLC's projects have golf courses with the quantity from 1-10 each project.



In the Korean market, Mr. Dang Tat Thang, FLC’s Deputy General Director, says that FLC has been looking forward to finding partners for golf resort tourism; travel companies that take Korean tourists to play golf and relax in Vietnam; organizing professional Korean golf tournaments in Vietnam, looking for Korean designers and architects for golf courses.

"As result of a survey, 1 out of 10 Korean is a golfer and they want to experience high-end golf courses. We pay special attention to the cooperation with Korean investors to exploit this group of customers," says Mr. Thang.



Answering about the procedures of real estate investment in Vietnam in general and FLC in particular, Mr. Trinh Van Quyet says that under the general provisions of the Investment Law, investors have no difficulty investing in Vietnam only with a valid visa. Investors from Korea or any other country can invest in from small to large scale such as acquisition of projects, in the context of Vietnam's favorable development of resort real estate over the years.


Mr. Trinh Van Quyet, Chairman of FLC Group answering the investors’ questions.

"We have plan to open three offices in Singapore, Japan and Korea. We have organized roadshows in Singapore and Japan, and recently opened a representative office in Tokyo. Today, I would like to announce that a representative office will be opened in Seoul in 2018" - he proclaims.

Active mindset

With the issue of the process to have a visa to invest in Vietnam, Vietnamese Ambassador to Korea Nguyen Vu Tu says that it would be easy for investors if they understand the nature of this process.


Vietnamese Ambassador to South Korea, Nguyen Vu Tu talking at the event.

In order to have a Vietnamese visa, there must be a unit in Vietnam acting as a guarantee. Otherwise the process will be long and difficult. "If you are a partner of FLC with its guarantee, the process will be much faster, even have more flexible terms of visa,” he says.

To close the program, Vietnamese Ambassador to Korea Nguyen Vu Tu says that he has been working in the field of cooperation appeal for several years in which he called for investment as an ambassador, but this is the first time to work with a Vietnamese company that actively goes abroad and looks for partners; this is also a rare promotion event that he is involved in.


Mr. Trinh Van Quyet discussing with the investors.

"I think that shows a strong activeness - a very different mindset of the young people entering the business world: They understand more about the local market, understand more about the world market and they are willing to take risks in this game," the ambassador compares.

In the framework of the event, a comprehensive cooperation agreement has been also signed between FLC and KB Securities Vietnam Joint Stock Company in providing financial products and services in Vietnam and international market.

KB Securities Vietnam is a subsidiary of KB Securities, the third largest securities company in Korea, with a total registered capital of more than $3.7 billion, belonging to KB Financial Group (KBFG).

Some photos at the event:


Investors and businesses registering to join the meeting.












Investors giving questions to the FLC’s leaders.

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