Hyundai Elevator signs strategic partnership with Vietnam's Hoa Binh Group
Hyundai Elevator signs strategic partnership with Vietnam's Hoa Binh Group
  • Lee Jun-sung
  • 승인 2019.04.24 12:27
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Hyundai Elevator CEO Chang Byung-woo (right) and construction chairman Le Viet High Hoabin signed a strategic alliance on April 23 at Ho Chi Minh Stock Exchange in Vietnam.
Hyundai Elevator CEO Chang Byung-woo (right) and construction chairman Le Viet High Hoabin signed a strategic alliance on April 23 at Ho Chi Minh Stock Exchange in Vietnam. (Image Source = Hyundai Elevator)

Hyundai Elevator CEO Jang Byung-woo and Vietnam's No. 2 builder Hoa Binh Construction Group JSC Chairman Le Viet Hai held a signing ceremony at the Ho Chi Minh Stock Exchange in Vietnam on April 23 for a strategic alliance.

Through the partnership, Hyundai Elevator acquired 25 million shares in HBC, or about 28 billion won worth, to secure its third-largest shareholder status with an 11.3 percent stake.

HBC has decided to adopt all of Hyundai Elevator's products for future projects carried out as a developer (business owner), as well as to consider the use of the products in the design, construction and architectural participation projects.

"The strategic alliance with HBC with the highest technology will be a momentum for expanding the Vietnamese market," Hyundai Elevator CEO Jang said at the signing ceremony, adding that it will be a new leap forward toward Hyundai Elevator's vision of " Go! Global."

"We were able to verify the best quality and reliability while working on many projects with Hyundai Elevator," HBC Chairman Hai said. "We are expecting that we will be able to achieve the best results not only in Vietnam but also in overseas high-rise projects."

Founded in 1987, HBC is the Vietnam's second-largest comprehensive construction company. It has built a number of landmark buildings, including the VietinBank Tower, the tallest building in Vietnam. It is the only construction company to secure high brand recognition that has been selected from the "National Brand Program" organized by the Vietnamese government for the 12th consecutive year


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