Samsung heir to visit Vietnam this week to seek support for business expansion

This will be his second overseas business trip this year after returning from Europe last week, industry sources said Sunday.

At the meeting with Vietnamese premier, Lee could announce new investment plans including the construction of a factory for electronic-car batteries in Vietnam, Yonhap cited people it didn’t identify.

Lee could ask PM Phuc for his government’s support, it said, without specifying what sort of backing he may seek.

According to the sources, Lee will depart for Vietnam on Tuesday and probably meet Vietnamese Prime Minister Nguyen Xuan Phuc during his trip to the Southeast Asian nation to discuss possible investment plans.

Lee's planned visit to Vietnam marks the first since Oct. 2018.

Vietnam has decided to adopt a fast-track entry program for South Korean diplomats and businesspeople, exempting them from its mandatory self-isolation against COVID-19.

If Lee visits Vietnam, he is expected to inspect Samsung's research and development center under construction in Hanoi, as well as the company's plants there.

Industry insiders said Japan, which allows South Korean businesspeople to enter the country without a two-week quarantine from Thursday, could also be Lee's next destination.

Lee visited Japan last year after Tokyo imposed restrictions on exports of three key industrial materials critical for chip and display industries.

Last week, Lee returned home after meeting with top executives from ASML Holding N.V., the world's leading photolithography equipment maker, in the Netherlands.

Lee met with ASML CEO Peter Wennink and ASML Chief Technology Officer Martin van den Brink at the ASML headquarters in Eindhoven, the Netherlands.

Source: Yonhap