Investment cooperation between South Korea's Gyeongsangbuk and Vietnam's Bac Ninh strengthened

A Memorandum of Understanding (MoU) on friendly cooperation between Vietnam's Bac Ninh Province and South Korea's Gyeongsangbuk Province was signed  on December 3.

Under the MoU, the two sides will enhance people-to-people interactions; promote cooperation and share information and experiences in the fields of economy, trade, and science and technology.

Both sides also encourage student exchange programs between universities and colleges; expand cooperation in human resource training to meet the development needs of each locality.

In addition to economic cooperation, the two provinces will continue to implement cultural exchange activities, promote heritage, and strengthen people-to-people diplomacy; jointly promote the "Vietnam Village" project as a symbol of sustainable cultural cooperation, contributing to strengthening the comprehensive strategic partnership between Vietnam and South Korea,

Speaking at the signing ceremony, held in Bac Ninh, Mr. Pham Hoang Son, Chairman of the Bac Ninh Provincial People's Committee, believed that the MoU will expand comprehensive cooperation, attracting more investors from Gyeongsangbuk to explore and implement projects in Bac Ninh, contributing to the overall investment lelandscape of South Korea in the locality.

Mr. Lee Cheol Woo, Governor of Gyeongsangbuk Province, for his part, stated that Gyeongsangbuk hosts many software development promotion centers and is home to major corporations such as Samsung, Posco, etc., providing significant impetus for economic growth.

"Gyeongsangbuk Province and Bac Ninh Province have many similarities and have built effective cooperative relations in the past, serving as a foundation for further expanding comprehensive cooperation and attracting investment in various fields in the new development phase," he added.

In addition to the signed contents, Gyeongsangbuk wishes to collaborate with Bac Ninh to research solutions to improve the environment, enhance the quality of life for residents, and promote economic development towards a green and sustainable transition in the future.