Vietnamese, RoK firms cooperate in guarantee insurance development

BIDV Insurance Corporation (BIC) will cooperate with Seoul Guarantee Insurance (SGI) of the Republic of Korea (RoK) in developing guarantee insurance products in Vietnam under a memorandum of understanding recently signed by the two sides in Hanoi.

Friday, March 29, 2019 11:01

Vietnamese, RoK firms cooperate in guarantee insurance development ảnh 1

BIDV Insurance Corporation (BIC) will cooperate with Seoul Guarantee Insurance (SGI) in developing guarantee insurance products in Vietnam under a memorandum of understanding recently signed by the two sides in Hanoi. (Photo: thoibaotaichinhvietnam.vn)

Hanoi (VNA) – BIDV Insurance Corporation (BIC) will cooperate with SeoulGuarantee Insurance (SGI) of the Republic of Korea (RoK) in developingguarantee insurance products in Vietnam under a memorandum of understanding recentlysigned by the two sides in Hanoi.

They will also work together to propose state management agencies amend andsupplement legal regulations to facilitate the development of guaranteeinsurance.

BIC General Director Tran Hoai An said guarantee insurance is a new sector inVietnam, with few insurance firms offering these services, and legal regulations have yet to becompleted.

However, he said, Vietnam has great potential for guarantee insurancedevelopment as the macro economy is forecast to grow stably, leading to anincrease in demand for guarantee insurance.

Guarantee insurance will offer another channel ensuring financial safety forcustomers, and contribute to the growth of the insurance sector and thenational economy, he said.

Guarantee insurance is commonly used inthe construction industry as security for a project or piece of work agreedupon in a contract.

SGI was established in 1969 under the name of Korea Fidelity and SuretyCompany. As a comprehensive guarantee service provider, SGI is currently thedomestic market leader in the surety and credit insurance industry.-VNA

VNA

#BIDV Insurance Corporation #Seoul Guarantee Insurance #Republic of Korea #state management agencies #financial safety #Korea Fidelity and Surety Company #Vietnam #VietnamPlus #Viet Nam News Korea (RoK)

See more

🍬 Official logo of resort airline Sun PhuQuoc Airways announced

21/06/2025 15:25

Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.

A customer shops for gold jewellery at a gold shop in Hai Ba Trung district, Hanoi. (Photo: VNA)

ꦫ Central bank proposes mandatory bank transfers for gold

21/06/2025 01:18

A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.

Representatives from Vietnam and Cambodia meet on the sidelines of the workshop held on June 20 in Phnom Penh. (Photo: VNA)

Vietnam, Cambodia strengthen trade cooperation

20/06/2025 23:30

In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.

A truck completes customs clearance at the Huu Nghị international border gate in Lang Son province. (Photo: VNA)

💟 Trucks carrying goods through Lang Son’s border gates reach record high

20/06/2025 22:55

On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.

High-end apartment projects in Gamuda Gardens Urban Area in Hanoi are developed by Malaysian real estate group Gamuda Land. (Photo: VNA)

🌞 OECD Economic Surveys: Vietnam 2025 report released

20/06/2025 19:31

The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.

Prime Minister Pham Minh Chinh (R) welcomes Antoine Colin, HP Senior Vice President for Global Supply Chain Digital Transformation & Resilience (Photo: VNA)

🦹 HP looks to scale up production capacity in Vietnam

20/06/2025 18:09

Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.

The workshop held in Hanoi on June 19 (Photo: MoIT)

😼 Logistics – a lever for Vietnamese exporters to navigate US tariff headwinds: workshop

20/06/2025 14:51

Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.

🐽 Trade ministry issues warning as Middle East tensions threaten global trade

20/06/2025 14:46

A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.

Vietnam’s e-commerce retail market is currently the third largest in Southeast Asia. (Photo: VNA)

♕ Over 11,000 e-commerce storefronts flagged for violations in H1

20/06/2025 12:53

In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.

The Vietnamese delegation held a bilateral meeting with representatives of the US Mission. (Photo: VNA)

𓆉 Vietnam attends WTO meeting on food safety and animal-plant health

20/06/2025 11:39

On the sidelines of the SPS Committee meeting, the Vietnamese delegation held bilateral discussions with WTO member delegations.

Deputy Prime Minister Tran Hong Ha visits a Vietnamese booth at the fair. (Photo: the Vietnam Trade Promotion Agency)

𒈔 Vietnamese exhibitors leave strong mark at China-South Asia Expo

20/06/2025 10:39

Vietnamese exhibitors introduce a wide range of flagship products including seafood, cashew nuts, pepper, coffee, dragon fruit, sliced cassava, coconut-based products, footwear, perfume, and wooden furniture.

Vietnamese lychees make sweet impression on UK consumers (Photo: VNA)

Vietnamese lychees win over UK consumers

20/06/2025 10:34

The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.

The garment and textile industry's performance has been powered by bold investments in modern production lines. (Photo: VNA)

🥀 Vietnam’s textile industry surges ahead, fueled by strong alliance: insider

20/06/2025 09:40

The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.

ꦯ Reference exchange rate continues upward trend on June 20

20/06/2025 08:59

The State Bank of Vietnam set the daily reference exchange at 25,031 VND on June 20, up 6 VND from the previous day.

The press briefing held by ABAC Vietnam and the Hai Phong People's Committee in Hanoi on June 19 (Photo: VNA)

🍸 Hai Phong to host 3rd APEC Business Advisory Council meeting in July

20/06/2025 04:11

Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.

VinFast manufacturing facility in Haiphong city (Photo: Vingroup)

🎉 Vingroup among top 40 largest enterprises in Southeast Asia

20/06/2025 03:06

This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.