Tag: Korea

Investment in modern infrastructure - airports, seaports, expressways, and high-speed railways - is crucial for Vietnam to achieve development goals.

The South Korean conglomerate, already a major investor in Vietnam, plans to further expand its presence in the country with new projects in advanced materials, biofuels and ATMs. The move comes as Vietnam solidifies its position as a manufacturing powerhouse in Southeast Asia.

The South Korean tech giant deepens its commitment to Vietnam, eyeing the Southeast Asian nation as a strategic manufacturing hub.

Persistent violations of The Republic of Korea food safety regulations threaten Vietnam's growing agricultural trade; exporters urged to adopt stricter standards.

Two sign a deal to set regulations and solutions for agreement’s implementation.

Two-way trade reached $87bln in 2022.

Vietnam has sent more than 110,000 workers to South Korea under the Employment Permit System.

Trung Nguyen Legend has opened its first representative office in Seoul.

Workers to go to South Korea under its Employment Permit System.

The 19th meeting of the Intergovernmental Committee for Economic-Commercial and Scientific-Technological Cooperation on October 28 was co-chaired by the Ministry of Planning and Investment (MPI) and the South Korean Ministry of Foreign Affairs to discuss solutions to boosting bilateral economic cooperation. As of September, South Korea had 9,438 investment projects in Vietnam with total registered capital of $80.5 billion, ranking it first among countries and territories investing in Vietnam. Bilateral turnover reached $78 billion in 2021, up 18.2 per cent compared to 2020. South Korea is Vietnam’s third-largest export market and second-largest import source.

Prime Minister Pham Minh Chinh received Minister of Foreign Affairs of the Republic of Korea (RoK) Park Jin on October 18, who is paying an official visit to Vietnam. The Prime Minister said Minister Park Jin’s visit to Vietnam is significant as this year marks the 30th anniversary of the establishment of diplomatic relations. He said he will continue to strongly, substantively, and effectively promote cooperation between the two countries.

The National Payment Corporation of Vietnam (Napas) and South Korea’s BC Card Company (BC Card) signed a cooperation agreement on October 17 in South Korea regarding non-cash payments in Vietnam and South Korea. The agreement will contribute to promoting the development of digital payments in trade as well as trade promotion and tourism between the two countries.

The Hai Phong City People’s Committee worked with the Korean Chamber of Commerce and Industry to organize an Investment Promotion Conference with South Korean businesses in Seoul. At the conference, city leaders presented investment certificates for a number of new South Korean projects. The city is expected to attract $4 billion in FDI from South Korean businesses this year.

The Korea-Vietnam Trade Connection Business Day (Mega Us Expo 2022) will take place in Ho Chi Minh City on September 21 and 22 and involve 120 innovative South Korean enterprises and showcase more than 650 chemical products, cosmetics, pharmaceuticals, information technology products, household appliances, and functional products. Vietnam is currently the fourth-largest trading partner of South Korea, while South Korea is the leading foreign investor in Vietnam, second in ODA, labor exports, and tourist sources, and third in trade.

The Vietnam - Korea Smart Farm was opened on June 23 in Hanoi’s Thanh Tri district, sponsored by South Korea and will be a model for businesses and farmers. The goal of the project is to build a smart farm based on South Korean technology and test the production process of certain crops of economic value in the direction of high technology to meet the needs of the domestic market and exports.

Vietnam holds many advantages in exporting confectionery to South Korea, such as tax rates of almost 0 per cent, but its market share remains modest.