SEYOUNG HOA HIEP JOINT VENTURE:THE BREAKTHROUGH OF VIETNAM SHIPBUILDING INDUSTRY

CEO Việt

07:57 10-11-2017

SEYOUNG HOA HIEP JOINT VENTURE:THE BREAKTHROUGH OF VIETNAM SHIPBUILDING INDUSTRY

In December, 2017, a joint venture between Vietnam and Korea will officially begin the groundbreaking ceremony for the construction of Seyoung Hoa Hiep Plant. This is an important event marking the breakthrough of the industry of industrial supporting for the shipbuilding industry of Vietnam.

Mr. Nguyen Van Hung - General Director Seyoung Hoa Hiep Joint Venture
VIETNAM BUSINESS AND BRAND had an interview with Mr. Nguyen Van Hung, who was the Co-Founder and CEO of Seyoung Hoa Hiep Joint Venture.
 
Business & Brand VN: Sir, why do you have the idea of building a factory to manufacture mechanical fittings for the shipbuilding industry and it takes up to 3 years to make an investment decision?
CEO Nguyen Van Hung: In my business life, for me being able to form the Seyoung Hoa Hiep factory as today is a charm and a miracle. I understand that, with the advantage of a country with stable political economy, the world leading corporations are moving in the direction of turning axis to Vietnam. The problem is whether we have enough capacity, level to seize the opportunity or not.
 
Three years ago, I noticed that the Hyundai Vinashin Shipyard (HVS) in Vietnam, despite its large scale and continuous production, has been importing up to 70% of materials for production. In the country, the shipyards of Vietnam also fell into difficulties because too dependent on the source of raw materials from abroad. Therefore, the trend of localization of products is the urgent need today to reduce costs, increase competitiveness. As a technical person, I see the tremendous potential of the market, and I belive that Vietnamese people can completely produce technical supplies for this industry. 
 
At the same time, a good chance came to me. I was introduced to a company from Korea by a friend and close partner. That is Seyoung Company. In Korea, Seyoung emerged as the number one supplier of prestige mechanical components in the shipbuilding industry of Hyundai Mipo Dockyard (HMD). After 2 years of building relationships on the basis of the same views, goals, passion and faith, Seyoung and Hoa Hiep decided to cooperate in investment.
Immediately I began to write a detailed project, setting specific goals: short-term, long-term, where is the risk, analysis of difficulties, challenges and opportunities for success. Why do we have to invest and how much profit does it bring? This process was not easy and it took me two years to get the nod of the partner and the HMD of Korea. If at the beginning, people say my project is “crazy”, now they have to say that only “crazy” person does not do it. 
 
Business & Brand VN: Could you tell us about the size of the plant?
CEO Nguyen Van Hung: The plant has a favorable location “back on the mountain, face overlooking the sea” with a total area of 3 hectares located in Ninh Thuy - Ninh Hoa industrial zone, Khanh Hoa province. At Phase 1, the factory has investment capital of 100 billion dong, of which the joint venture between Korea and Vietnam is 50% - 50%. The plant requires 200 laborers, of which 30 skilled workers are well trained in Korea.
 
With modern, professional and transparent criteria, the plant is applied the ERP business management system transferred by the Korean partner. This system not only helps business leaders cover production activities and make accurate decisions, but also helps our customers to grasp the progress and quality of the products they order.
 
Business & Brand VN: It is known that although Seyoung Hoa Hiệp plant has not entered into operation yet, it has signed a contract with a large partner Hyundai Shipbuilding Group.  How did you get the handshake of this world’s largest corporation?
CEO Nguyen Van Hung: We spent a lot of time on the project to persuade the HVS and HMD to sign the Memorandum of understanding (MOU), although the plant was just a project on paper. That’s based on the factors: First, the HMD’s localization policy; Second, the prestige of Korean Seyoung and Hoa Hiep partners is big enough to create trust in product quality, in which the quality and progress of delivery are top priority;
Third, the project we have written and spoken directly at the corporate headquarters is considered feasible.
 
Business & Brand VN: What is your expectation for future development of Seyoung Hoa Hiep Plant in particular and Vietnam’s shipbuilding industry in general?
CEO Nguyen Van Hung: We have invested nearly 100% of technology and equipment from Korea together with ERP business management software. It is possible to say that this is the first plant in Vietnam applying the most modern and cost-saving production technology for shipbuilding industry in Vietnam and the region. This is an important step in helping our products compete with other countries in the region, even China, thereby contributing to reviving the shipbuilding industry of Vietnam.
 
Business & Brand VN: Are you very confident?
CEO Nguyen Van Hung: In the course of business, my company sometimes encountered many difficulties, even when I lived in the “border region”, but at that time my willpower was stronger than ever. In addition, I work in the technical field, I have a passion for my career, and it’s all about motivating me to stand up for my unfinished dreams.
 
Thank you!

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