Korean companies have made inroads into Vietnam's energy sector. Officials from the two countries held a ceremony on Friday in Hanoi, marking the launch of production at a gas field off Vietnam's northern coast. The Rong Doi gas field was developed by a Korean consortium led by the state-run Korea National Oil Corporation. Rong Doi is expected to produce 4,200 barrels of crude oil and almost 3,000 tons of gas daily over the next 23 years to provide electricity for an industrial complex. The Korean consortium includes LG and Daesung, and is expected to earn at least US$500 million in profits.

Arirang News