Under the partnership, SK Group will be able to co-invest with Vietnamese companies in new businesses, enjoy higher priority when making an equity investment in their Merger and Acquisition deals, and invest in Masan and Vingroup's listed subsidiaries.
In May, SK Group invested US$1 billion to buy a 6.1% share in Vingroup, and US$470 million for a 9.4% share in Masan Group last year.
Naturon Co Ltd, a Korean-based textile company, noted that Vietnam's market has high potential because of the country's stable, high-growth economy and young population.
In addition, the RoK government's New Southern Policy has identified ASEAN and Vietnam as markets for which the RoK will prioritise its investment.
Korean businesses are pouring more money into retail, finance and green energy industries in Vietnam as opposed to mostly electronic components as they have done in the past. The food processing industry is also seeing more investment from Korean businesses.
Vo Tanh Thanh, deputy chairman of the Vietnam Chamber of Commerce and Industry, said the Vietnamese government was improving foreign investment attraction policies for environmentally-friendly projects that use advanced technology, and for companies that want to work closely with Vietnamese businesses.