Founder of Vietnam property developer FLC Trinh Van Quyet returns to business arena

He signals his return to the business arena after an absence of nearly four years.

According to FLC, the meeting was held at a time when Vietnam-South Korea economic ties continue to record positive growth momentum.

South Korea is currently the largest foreign investor in Vietnam, with cumulative registered investment capital exceeding US$95 billion across a wide range of key economic sectors.

The East Asian nation is also one of Vietnam’s key tourism source markets, making significant contributions to the growth of tourism, aviation, and services.

Speaking at the meeting, Ambassador Choi affirmed that the South Korean Embassy would continue to accompany and act as a bridge between South Korean enterprises and the Vietnamese market, particularly in areas where both sides possess strengths and strong complementary potential, such as tourism, hospitality, real estate, aviation, and high-quality services.

Apart from investment promotion activities, FLC Group has recently recorded a number of notable developments following Trinh Van Quyet’s return to the business arena after completing the execution of court judgments.

Specifically, FLC has announced a plan to increase its charter capital by VND1.5 trillion ($57.4 million), raising its total charter capital to nearly VND8.6 trillion ($329 million).

In addition, FLC Faros Construction Joint Stock Company has also adjusted its charter capital upward, from VND5.676 trillion ($217 million) to VND6.076 trillion ($232 million).

Regarding business performance, FLC said that after-tax profit from its real estate segment in 2025 was estimated at around VND635 billion ($24.3 million), a sharp turnaround from a loss of VND123 billion ($4.7 million) recorded in 2024.

On March 29, 2022, Quyet was arrested and prosecuted for investigation on charges of stock market manipulation, followed by fraud and appropriation of property.

At the appellate trial in June 2025, the court accepted the appeal of the former FLC chairman, reducing part of the sentence for fraud and converting the custodial sentence for stock market manipulation into a monetary fine.

The court sentenced Quyet to seven years in prison for asset misappropriation, down 14 years from the original 21-year sentence handed down in the first-instance trial, and upheld a fine of VND4 billion ($153,080) for stock market manipulation.

At a regular press briefing for the third quarter of 2025 held by the Ministry of Justice on October 27 last year, Tran Thi Phuong Hoa, deputy head of the General Department of Civil Judgment Enforcement under the ministry said that Quyet had fully fulfilled all financial obligations stipulated in the judgment, including joint compensation liabilities with other defendants.

As of August 13, 2025, Quyet had paid VND200,000 ($7.6) in first-instance criminal court fees, settled the VND4 billion fine, paid more than VND1.466 billion ($56,090) in joint civil court fees, and voluntarily contributed nearly VND9.6 billion ($367,3400) to the state budget.