Mr. Pham Thanh Binh, the chairman of VINASHIN, a shipbuilding enterprise owned by the government of Vietnam as well as our Vietnamese partner for the HVS, visited our firm on August 24th.

Mr. Binh met with our chairman J.l. Lee and exchanged views concerning mutual cooperation and development of HVS. Chairman Lee said that both VINASHIN and Hyundai would stride forward together so that HVS could compete with newly-emerging ship building nations such as China as well as major shipyards in the global market place.

Earlier, Chairman Binh toured the industrial complexes in the Ulsan area as a member of the visiting team of the Secretary of the Vietnam who officially visited Korea on the 22nd of August.