On May 7, 2025, the JoongAng Ilbo, a major South Korean newspaper, featured Mr. Buyn Sang Huyn – CEO of UNI Customs Consulting – as a customs consulting expert in an article discussing the ongoing suspension of VAT refunds in Vietnam, an issue that is seriously impacting Korean-invested businesses operating in the country.
1, Summary of the Article
A number of South Korean enterprises in Vietnam are facing serious difficulties due to the Vietnamese government’s suspension of Value-Added Tax (VAT) refunds, particularly for export businesses that had long relied on the 0% VAT refund policy. Since 2022, after the Binh Duong Customs Department raised concerns about the lack of clear legal grounds for the “domestic export-import” mechanism, Vietnam’s General Department of Customs shifted its stance, resulting in widespread refund delays.
Both small and medium-sized enterprises as well as major conglomerates like Samsung Electronics and Hyosung have hundreds of billions of VND tied up in pending VAT refunds. Although the South Korean government has repeatedly engaged with Vietnamese authorities to resolve the matter, progress has remained slow.
2, Expert Opinion – Mr. Buyn Sang Huyn, CEO of UNI Customs Consulting
In the article, Mr. Buyn Sang Huyn, a seasoned customs consultant and the CEO of UNI Customs Consulting, shared his in-depth perspective on the situation:
With years of experience in customs advisory services in Vietnam, Mr. Buyn Sang Huyn is one of the few experts quoted directly in international media, offering a clear analysis of how the suspension of VAT refunds is affecting capital flow and the business operations of Korean companies in Vietnam.
3, JoongAng Ilbo – A Leading Newspaper in South Korea
JoongAng Ilbo is one of the top three daily newspapers in South Korea, comparable to Tuổi Trẻ in Vietnam in terms of credibility and influence. The paper frequently covers economic, political, and international investment topics, with a particular focus on the activities of Korean enterprises abroad.
The fact that a UNI Customs Consulting expert – a leading customs advisory firm in Vietnam – was interviewed and quoted by JoongAng Ilbo is a strong testament to the professional credibility and strategic advisory role UNI plays for FDI businesses, especially Korean investors operating in the Vietnamese market.
Source:
- Journalist: Lee Young Geun
Email: lee.youngkeun@joongang.co.kr
Original article link – JoongAng Ilbo (Korea)
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