Hyundai Corporation – Kolao Holdings, signed the MOU
-Promoting business cooperation and carrying forward joint projects in the Indochina Peninsula-

Hyundai Corporation and Kolao Holdings singed the Memorandum of Understanding (MOU) for the business cooperation in Southeast Asia with a focus on the Indochina Peninsula.

 The concerned parties including the chairman and the vice president Ha Myeong-Ho, the president of Kolao Holdings, Oh Sea Young and the vice president Ko Un Ha, etc. attended the signing ceremony held at the main conference room of the headquarters in the afternoon on March 15(Tue).

On this day, the chairman and the president of Kolao Holdings, Oh Sea Young signed the MOU to promote the business partnership between the two companies. They also agreed to cooperate to extend other businesses and the value chain including sales and logistics, distribution, financing of various vehicles such as cars, trucks, motorcycles, etc. and the related parts in the Southeast Asia with a focus on the Indochina Peninsula.

This MOU is expected to generate a significant synergy and win-win situation for the two companies; Hyundai Corporation can utilize the localization capability of Kolao Holdings that has firmly consolidated its position in the Indochina Peninsula as the foundation to develop new growth businesses; Kolao Holdings can extend the existing businesses based on Hyundai Corporation’s global trading networks. For this, Hyundai Corporation and Kolao Holdings are shortly supposed to organize the TFT to promote business partnership and develop cooperative measures concretely.

Kolao Holdings that is the biggest private company in Laos founded in 1997 has run a number of subsidiaries such as distribution, construction, bio-energy, Indochina Bank, etc. including  manufacturing businesses with a focus on cars, trucks, motorcycles. The company with sales of 440 billion (2015) and 2,500 people has become the first overseas Korean trading company listed on KOSPI in October 2010.