Thanh Hoa province wants to enhance cooperation with Korean partners

The 1,200 MW Nghi Son 2 BOT Thermal Power Plant with investment of nearly 2.8 billion USD, half of which comes from the Korea Electricity Corporation. (Photo: VNA)

Do Trong Hung, Secretary of the provincial Party Committee, said cooperation between Thanh Hoa and the RoK’s localities, agencies, organizations and enterprises have developed continuously, adding the RoK has become an important partner of Thanh Hoa in various fields.

Thanh Hoa will create the best possible conditions for Korean businesses and partners, Hung.

The RoK is running 37 FDI projects and joint ventures with Japan in the central province of Thanh Hoa, with total registered capital of over 3 billion USD, accounting for 26.5 percent of FDI projects in the locality.

The RoK government has also launched five ODA projects in Thanh Hoa, worth some 135 million USD, focusing on health care, education, transport and urban development.

Many of the projects are operating successfully, notably the 1,200 MW Nghi Son 2 BOT Thermal Power Plant with investment of nearly 2.8 billion USD, half of which comes from the Korea Electricity Corporation.

The first turbine of the plant has been put into operation, churning out around 3.9 billion kWh per year. The second turbine is scheduled to be operational in July.

According to Jubok Lee, Deputy General Director of Nghi Son 2 Power Limited Liability Company, Thanh Hoa has taken solutions to help the company deal with difficulties during the construction, thus teaching the project progress.

Apart from the RoK-invested projects, 88 enterprises in Thanh Hoa have also exported their products to the RoK, with a combined value of more than 408 million USD last year.

Tsinghua and Seongnam city of the RoK’s Gyeonggi province have also maintained their friendship through cooperation documents since 2013, covering such spheres as economy, technology, infrastructure development, people-to-people diplomacy, development assistance and humanitarian aid.

Between 2013 and 2017, Seongnam’s authorities provided Thanh Hoa with 290,000 USD through non-governmental organizations to help the province upgrade infrastructure in local schools. In 2021 alone, the RoK city financed 13 projects valued at 1.84 million USD in Thanh Hoa.