Opening of the 12th International Conference on Finance and Business

This is an annual conference held for over 10 years in many Asian countries. This year, Saigon Telecommunication Technology Joint Stock Company (SAIGONTEL) accompanied the Korean Edaily Media Group and SMBL Co., Ltd. to organize the 12th Conference in Vietnam. The conference took place over 2 days, March 16 and 17.

The opening ceremony was attended by representatives of leaders from Korea and Vietnam. On the Korean side, there were Mr. Kwak Jea Sun - Chairman of Edaily Media Group; Ms. Oh Young Ju - Korean Ambassador to Vietnam; Mr. Lee Myeong Sun - Deputy Director of Credit Monitoring Institute along with representatives from Korean financial and business units.

Opening of the 12th International Finance and Business Conference - 1 — Guests take photos at the conference.

On the Vietnamese side, there were Mr. Tran Duy Dong - Deputy Minister of Planning and Investment; Mr. Pham Tien Dung - Deputy Governor of the State Bank of Vietnam; Mr. Vu Quoc Huy - Director of the National Innovation Center; Ms. Nguyen Cam Phuong - General Director of SAIGONTEL and representatives of departments and branches from Thai Nguyen and Long An provinces; representatives of the Chamber of Commerce and Industry (VCCI) and representatives from Vietnamese enterprises.

Digital finance is the fastest growing sector of all industries. According to CB Insights, an American market research agency, there are currently 1,204 “unicorn” companies worldwide (as of October 2022), of which 250, or 21%, are Fintech companies.

Finance is becoming a platform and non-financial services are also looking at digital finance as a key factor to attract users. Both the Korean and Vietnamese governments are rapidly transforming to become global digital financial hubs.

In addition, private digital financial companies in both countries are at a high level and do not lag behind those in North America and Europe, which are traditional financial developed countries, and people's acceptance of new digital financial services is also very high.

Opening the conference, Edaily Chairman Kwak Jea Sun shared that Korea and Vietnam have been expanding exchanges and cooperation in many fields such as economy, industry and culture, and 2022 also marked the 30th anniversary of the establishment of diplomatic relations between the two countries. The two countries do not hesitate to learn and understand each other's culture and profession.

In particular, Vietnam has emerged as the "World's Factory" along with the reorganization of the global supply chain, the average working age is 32.5 years old. Therefore, the interest in digital finance is very high and the growth rate of the financial industry is very fast.

With the theme “Korea and Vietnam jointly develop digital finance, surpassing innovation”, this IBFC will share trends and policies on digital transformation in the global financial industry, including both countries. At the same time, Mr. Kwak Jea Sun hopes that through this IBFC conference, both countries will look at the development direction and growth potential in the future.

Bao Anh

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