General Director of LOTTE Finance in Vietnam Kong Sung Sik:

“Entering its 8th year, LOTTE Finance continues to affirm its position as a reliable financial partner, always accompanying Vietnamese consumers.”

That was the affirmation of LOTTE Finance General Director Kong Sung Sik when answering an interview with Hanoi Moi Newspaper about the company's upcoming plans in Vietnam.

- During 7 years of working in Vietnam and the Hanoi area, what difficulties and advantages has LOTTE Finance encountered?

- LOTTE Finance is a 100% Korean-invested enterprise. During 7 years of construction and development in the Vietnamese market, we always respect and express our deep gratitude to the Hanoi People's Committee and Vietnamese agencies and units for their constant support. We highly appreciate the safe investment and business environment as well as the stable political situation in Vietnam. This is one of the great advantages that helps us develop sustainably.

General Director of LOTTE Finance in Vietnam Kong Sung Sik.

As a non-bank credit institution operating in the field of consumer finance, we have been gradually making our mark in the process of connecting values ​​and giving full trust to customers across the country. LOTTE Finance always proactively follows the Government's direction in implementing socio -economic policies. Typically, we actively participate in preferential loan programs to serve the essential needs of people, such as car and electric motorbike loan packages - vehicles that contribute to promoting green transportation development, protecting the environment and improving the quality of life.

Through this, we hope to contribute to the effective implementation of the Government's policies, while expanding credit access opportunities for people, promoting sustainable consumption and national economic development. LOTTE Finance affirms that it always strives to follow the direction of the Government and the State Bank in contributing to reducing and limiting "black" credit, protecting customers' rights and making the financial market transparent.

We appreciate the determination of the Vietnamese Government in promoting socio-economic development, through many innovative policies and comprehensive reforms. For the consumer lending sector to develop sustainably and become an effective financial support channel for the people, we hope that the Government and management agencies will continue to pay attention to and improve the legal framework for the consumer finance sector with synchronous policies, suitable to the development practices of the economy.

- As a long-time Korean investor in Vietnam, in your opinion, what should the Vietnamese Government and Hanoi city improve to attract more Korean investors?

- By early 2025, Korean enterprises had invested more than 92 billion USD in the Vietnamese market, leading among 149 countries and territories investing in our country. In January 2025 alone, FDI capital from Korea to Vietnam reached 1.25 billion USD, accounting for nearly 29% of total registered FDI capital, with an impressive increase of more than 13 times over the same period last year. Currently, there are about 10,000 Korean enterprises operating in Vietnam, playing an important role in national economic development.

These figures not only demonstrate the great potential and interest of Korean investors in the Vietnamese market, but also affirm the essential role of the Korean business community in promoting the sustainable development of the Vietnamese economy.

To attract more Korean investors, we find it extremely important to continue to improve and synchronize investment policies. A clear and synchronous policy system will help investors predict and plan their business more effectively, avoiding unnecessary risks and problems during project implementation.

In addition, simplifying and making administrative procedures transparent is a key factor to facilitate businesses in the investment and business process. At the same time, close and synchronous coordination between agencies and departments at all levels will help create a more open, favorable and sustainable investment environment. We believe that with these improvements, Vietnam will increasingly attract more investors from Korea as well as other international markets, contributing to promoting the overall economic development of the country.

- With the mission of "Increasing value, improving life", what financial products does LOTTE Finance introduce to Vietnamese customers and what is the difference with other financial companies in Vietnam?

- LOTTE Finance aims to develop financial products that suit the modern lifestyle of Vietnamese people, based on understanding of culture and daily spending habits. Notable products include: Preferential loan packages exclusively for officials, civil servants and public employees with a limit of up to 500 million VND, interest rates from only 0.65%/month, maximum loan term of 60 months, especially free of early repayment fees.

Preferential loan package exclusively for cadres, civil servants and public employees with a limit of up to 500 million VND, interest rate from only 0.65%/month.

Car loan products with loan support policy up to 90% of car value, quick procedures, competitive interest rates. Super preferential credit card with cashback up to 3.5 million/month, bringing practical benefits in daily spending for consumers. In parallel, LOTTE Finance also develops diverse products such as: Unsecured consumer loans, 0% interest installment loans, buy now pay later service (BNPL), and flexible financial solutions for many customer groups such as workers and laborers.

In particular, LOTTE Finance is also one of the pioneering financial units in developing green financial products through strategic cooperation with VinFast. Consumers can easily own an electric motorbike with a loan of up to 90% of the vehicle value, interest rates from only 0.45%/month, along with many attractive incentives - contributing to reducing carbon emissions and promoting a sustainable economy.

From flexible innovation in financial product design and long-term business strategy, LOTTE Finance wishes to create a distinct mark in the Vietnamese consumer finance market, thereby affirming its position as a reliable partner bringing practical value to customers and the community.

Car loan products with support policy of borrowing up to 90% of car value, quick procedures, competitive interest rates.

- Could you share more about the products as well as the meaning of “green finance” and “finance for the community”? How are these products received by people in Korea and what is the difference in Vietnam?

- For LOTTE Finance, the mission is not only to provide financial products but also to actively contribute to the sustainable development of society. Therefore, we pay special attention to two key concepts: “green finance” and “finance for the community”.

With “Green Finance”, LOTTE Finance aims to develop financial products and services to support environmentally friendly projects, renewable energy, etc. In Korea, green financial products are very positively received by people and businesses, because this is not only a global trend but also a shared responsibility to ensure a more sustainable future.

For us, “Finance for the community” is the guiding principle throughout all business activities, with the view that business must go hand in hand with social responsibility. LOTTE Finance has developed preferential financial products specifically for women, and actively supported many social activities such as: Supporting and giving gifts to the disadvantaged and disadvantaged in society, as well as implementing projects to support workers in many provinces and cities.

The big difference between the Korean and Vietnamese markets is the development and awareness of green finance and the community. In Korea, this trend is quite popular and has strong support policies. Meanwhile, in Vietnam, this is a new field, so LOTTE Finance not only provides financial products but is also ready to accompany the Government and organizations in communicating, raising awareness and developing a sustainable financial ecosystem.

- To develop long-term in Vietnam, what products will LOTTE Finance focus on in the coming time and what is the target customer segment?

- LOTTE Finance will focus on diversifying financial products based on the lifestyle of Vietnamese people. The core target customers are still low-risk groups such as civil servants, public employees and salaried workers, while expanding to potential customers on digital platforms.

This strategy is accompanied by network expansion and strong investment in digital technology to optimize the experience, simplify the loan process, and provide flexible and safe financial solutions. Entering its 8th year, LOTTE Finance continues to affirm its position as a reliable financial partner, always accompanying Vietnamese consumers.

Thank you very much!

Source: https://hanoimoi.vn/tong-giam-doc-lotte-finance-tai-viet-nam-kong-sung-sik-lotte-finance-doi-tac-tai-chinh-luon-dong-hanh-cung-nguoi-tieu-dung-viet-nam-716565.html