Korean companies interestes electricity market in VietNam

(Engineering Daily) Nguyen Anh Duong = Korean companies are expected to expand their concern in the Vietnamese power market.

According to the Korean Consulate General in Vietnam on Monday, Korean companies' interest in Vietnam's power and telecommunications market is growing.

The number of South Korean companies that are currently receiving the most attention is estimated to have surpassed 100 with smart grids and 5G infrastructure interested in investment.

In particular, the pace of Korean companies' entry into the market is also expected to increase as demand for electricity in Vietnam continues to rise.

"Vietnam's electricity consumption is growing by more than 10% every year" said Lim Jae-hoon, consul general at the consulate general.

Meanwhile, Vietnam's power supply rose 12.2 percent on-year to 3.6 GW as of May, the survey showed.