FLC property developer founder Trinh Van Quyet re-enters business scene

Trinh Van Quyet, the creator of FLC Group, has made a notable return to the business world after an absence of nearly four years. Alongside the leadership of the real estate development company, he recently met with South Korean Ambassador to Vietnam, Choi Youngsam, to discuss collaboration strategies and enhance connections between the business communities of both nations.

This meeting took place against the backdrop of growing economic ties between Vietnam and South Korea. South Korea stands as the leading foreign investor in Vietnam, with accumulated registered investment capital surpassing US$95 billion in various vital economic sectors. Additionally, South Korea represents a significant source market for Vietnam’s tourism industry, significantly contributing to the growth of tourism, aviation, and services within the country.

During the meeting, Ambassador Choi affirmed the South Korean Embassy’s commitment to support and facilitate partnerships between South Korean enterprises and the Vietnamese market. He highlighted areas where both sides possess strengths and potential for strong collaboration, such as tourism, hospitality, real estate, aviation, and high-quality services.

After overcoming legal challenges and court judgments, Trinh Van Quyet’s return to the business arena has been marked by several notable developments within FLC Group. This includes plans to increase the company’s charter capital by VND1.5 trillion, bringing the total capital to nearly VND8.6 trillion. Moreover, FLC Faros Construction Joint Stock Company has boosted its charter capital from VND5.676 trillion to VND6.076 trillion.

In terms of business performance, FLC reported a significant improvement in its real estate segment, estimating an after-tax profit of around VND635 billion in 2025, a stark contrast from the VND123 billion loss recorded in the previous year. These positive financial results indicate a promising trajectory for FLC Group moving forward.

Trinh Van Quyet’s journey has not been without challenges, as he faced legal troubles in 2022 related to stock market manipulation, fraud, and appropriation of property. However, Quyet’s perseverance paid off as the court reduced his sentence following an appeal. Despite challenges, he has fulfilled all financial obligations as stipulated by the court, including settling fines and contributing to the state budget.

As Trinh Van Quyet reenters the business world, his commitment to growth, development, and collaboration with international partners remains steadfast. The recent meeting with the South Korean Ambassador serves as a testament to his dedication to fostering strong relationships and driving positive economic outcomes for both Vietnam and South Korea.