Key Takeaways
- Vikrom Kromadit, founder of Amata Corp., emphasizes South Korea’s role in Southeast Asia’s smart city developments.
- Amata has successfully partnered with Korean companies, envisioning a collaborative future in industrial and urban development.
- Kromadit’s “all win” philosophy focuses on sustainable success and community development, expanded through his philanthropic efforts.
Strategic Vision for Smart Cities
Vikrom Kromadit, the founder and chairman of Thailand-based Amata Corp., has positioned South Korea at the forefront of his ambition for creating smart cities in Southeast Asia. He acknowledges Korea’s innovations and cultural strengths, stating, “We have the land, the infrastructure, and the commitment to build a smart city that reflects Korea’s culture and aspirations.”
Founded in 1989, Amata Corp. has evolved into a leading developer of industrial estates, overseeing over 11 projects that span more than 150 square kilometers across Thailand, Vietnam, Laos, and Myanmar. Hosting over 1,600 corporate tenants, including notable names like BASF, BMW, and Toyota, Amata is well-placed to enhance its ties with Korean enterprises. The longstanding partnership with Posco Coated Steel in Thailand exemplifies this potential collaboration.
Kromadit’s vision also draws from historical encounters; meeting the late Kim Woo-choong of the Daewoo Group in the 1990s inspired him to appreciate Korea’s industrious spirit. Today, he observes Korea positioned strategically in Asia, ready for increased collaborations. His initiative, the Korean Smart City Zone, aims to harness Korean expertise in advanced urban planning, spurred by a 2017 agreement with Incheon Smart City Corp.
A recent visit to Seoul reaffirmed Kromadit’s commitment, with three major Korean conglomerates expressing interest in facilities in Thailand. Kromadit remains focused on building relationships conducive to mutual growth.
Philosophy of Shared Prosperity
Growing up as the eldest of 23 children shaped Kromadit’s approach to business. He believes in an “all win” strategy, emphasizing that mutual benefit prevents conflict and fosters harmony among stakeholders. He founded V&K Corporation in 1975 and launched Amata City Chonburi, defining a new standard for industrial zones with a focus on community and sustainability. Remarkably, 99 percent of Amata’s tenants flourish, which Kromadit attributes to the company’s holistic approach to development.
In alignment with his philosophy, he established the Amata Foundation in 1996, promoting educational, artistic, and environmental initiatives. His recent vow to donate 95 percent of his wealth, approximated at 20 billion baht (about $615 million), further underscores his commitment to societal contributions.
Kromadit’s bestselling autobiography, “Dream 50 Years,” shares his life’s lessons and missteps, which he believes are essential for learning. Despite his extensive achievements, he remains grounded, stating, “I work hard but never overthink. Business is not just money; it’s about making dreams a reality.”
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