GLOBAL PARTNERSHIP: PHILLIPS INTERNATIONAL GROUP AND MAI LINH GROUP JOIN FORCES

The agreement between the two corporations, with Mr. Bang Seung Ho, Chairman of Phillips  International Group (on the right), and Mr. Ho Huy, Chairman of Mai Linh Group (on the left). Photo: WAJ

The Mai Linh Group from Vietnam visited and had meetings with Phillips International Group in South Korea from June 27 to July 1. Mr. Ho Huy, Chairman of the Mai Linh Group, Mr. Ho Quoc Phi, Advisor, and other members headed the delegation.

Even though the traditional taxi sector is currently having a lot of problems in many different nations, Mai Linh is still the most popular brand in Vietnam. With 132 years of experience, Phillips International Group has been making bicycles and electric bikes since 1892. This well-known British brand was purchased by South Korea in 2018 so that it may carry on making electric bikes and expand into the production of four-seater automobiles, lorries, and electric buses. At the moment, Mr. Bang Seung Ho serves as Chairman of the Phillips International Group.

The delegation from Mai Linh, Vietnam, visited a number of electric vehicle manufacturers, as well as the Gimje, TTS Asan, and other affiliated factories of Philips. The delegation had the opportunity to see and assess the electric motorbike, electric bus, and electric taxi product lines that Phillips has refined and expanded over the years.

The delegation is visiting an electric bus manufacturing plant. Photo: WAJ

This visit presents a significant chance for Phillips International Group and Mai Linh Group to establish a strategic alliance. The two parties are planning to collaborate on the distribution of electric vehicle products in the Vietnamese market. They have committed to establishing a joint manufacturing facility in Vietnam through technology transfer and supplying Phillips electric vehicles to the Vietnamese market.

Phillips International Group will prioritize providing Mai Linh with electric vehicles made and assembled in South Korea while simultaneously getting ready to open a local manufacturing plant in Vietnam. In particular, technology transfer shall be carried out in full compliance with an independent contract. Mai Linh Group will plan the construction of a manufacturing plant or a joint production facility in Vietnam with the cooperation of Phillips International, through investment in technology and infrastructure.

The two chairmen are posing for a souvenir photo with the delegation. Photo: WAJ

This agreement not only surpasses mere cooperation between the two parties but is also expected to have a positive impact on the economic development of both South Korea and Vietnam. Furthermore, it is expected to have a major positive impact on environmental protection by promoting environmentally friendly automobiles.

Mr. Ho Huy, Chairman of Mai Linh Group, Vietnam, Mr. Ho Quoc Phi, advisor to Mai Linh Group (in the center), and delegates experiencing electric motorcycles from Phillips International Group, South Korea. Photo: WAJ

The cooperation between Phillips International Group and Mai Linh Group will open a new chapter for the transportation industry in the future, laying a crucial foundation for sustainable development and environmental protection in Vietnam and the markets targeted by this joint venture. It is anticipated that Vietnam's manufacture and marketing of electric vehicles will become a new global development driver. The sustainable and eco-friendly future that both businesses are dedicated to achieving will be greatly aided by this relationship.

Significant improvements to Vietnam's transportation system generally, particularly in the taxi sector, are anticipated as a result of the combination of Mai Linh's local knowledge with Phillips' cutting-edge technology. It is projected that the planned investment in building industrial facilities will considerably boost economic expansion and generate new job opportunities locally in Vietnam.

International cooperation between Phillips Group, South Korea, and Mai Linh Group, Vietnam. Photo: WAJ

In a time when regional conflicts are having a major impact on the global economy, the international cooperation between the South Korean Phillips International Group and the Vietnamese Mai Linh Group confirms once more that this is a smart and strategic decision intended to foster sustainable economic development for both corporations and both nations.

It is hoped that the partnership model between South Korea's Phillips International Group and Vietnam's Mai Linh Group will serve as an inspiration for other businesses and nations to carry on fostering international cooperation in the economic and commercial sectors following the pandemic and global economic downturn.

1st July, 2024

Reported from Seoul, South Korea