In the context of increasingly deepened economic and investment cooperation between Vietnam and the Republic of Korea—further strengthened and elevated through the official visit to Vietnam by the President of the Republic of Korea from April 21 to 24, 2026—the enhancement of connectivity and cooperation between enterprises of both sides holds significant importance, contributing to the realization of bilateral cooperation commitments.

Attending the signing ceremony, on the side of Hyosung Heavy Industries Corporation, were Mr. Woo Tae Hee – President and CEO, Mr. Park Tae Young – Vice President, along with leaders of the Asia-Pacific business divisions, marketing department, and representatives of Hyosung Vina.

On the side of EVN, participants included Mr. Dang Hoang An – Chairman of the Board of Directors of EVN, Mr. Nguyen Anh Tuan – President and CEO of EVN, Mr. Dang Huy Cuong – Member of the Board of Directors, Mr. Nguyen Dinh Phuoc – Vice President, Mr. Pham Le Phu – Vice President, along with representatives of EVN’s functional departments and Dong Anh Electrical Equipment Corporation.

Leaders of EVN and Hyosung sign Memorandum of Understanding in presence of delegates from both sides. (Photo: Ng. Tuan)

At the ceremony, EVN Chairman Dang Hoang An emphasized that EVN highly values its cooperative relationship with Hyosung Heavy Industries and appreciates the signing of this new MoU, building on the positive outcomes of the agreement signed in August 2025. This demonstrates mutual trust and a long-term commitment to accompanying each other towards the sustainable development of Vietnam’s power sector.

According to the EVN Chairman, in order to meet economic growth targets, EVN is currently implementing an annual investment program of approximately USD 5 billion for the development of power generation and grid infrastructure. Key priorities include the development of smart grids, acceleration of digital transformation towards becoming a digital enterprise by 2030, expansion of renewable energy, promotion of energy transition, and enhancement of the localization rate of power equipment.

Within the cooperation framework, the two sides identified three main pillars: deploying advanced grid asset management solutions to improve operational efficiency and system reliability; jointly researching, transferring, and mastering STATCOM technology to enhance voltage stability and power quality; and strengthening training and human resource development, particularly at Dong Anh Electrical Equipment Corporation, thereby promoting localization and the development of Vietnam’s domestic power industry.

EVN Chairman Dang Hoang An delivers remarks at ceremony. (Photo: Ng. Tuan)

The signing of the MoU not only carries technical cooperation significance but also reflects a commitment by both sides to accompany each other and share knowledge in the process of modernizing Vietnam’s power sector. EVN will facilitate the effective implementation of cooperation contents, contributing to ensuring power system security and sustainable development.

Speaking at the ceremony, Mr. Woo Tae Hee – President and CEO of Hyosung Heavy Industries Corporation, expressed appreciation for EVN’s warm reception and highly valued the cooperative relationship between the two sides. He noted that this MoU marks an important milestone, providing a foundation for expanding cooperation in grid management, system stability, technical capacity development, and technology transfer.

Mr. Woo Tae Hee – President and CEO of Hyosung Heavy Industries Corporation, delivers remarks at ceremony. (Photo: Ng. Tuan)

Mr. Woo Tae Hee affirmed that Hyosung will leverage its technological strengths and experience to closely coordinate with EVN in effectively implementing the agreed cooperation contents, thereby contributing to enhancing the reliability and operational efficiency of Vietnam’s power system and advancing sustainable development goals.

Translator: Hoàng Duy Khánh