Business Forum with Vietnam Held in Seoul
The Korea Chamber of Commerce and Industry hosted the South Korea-Vietnam Business Forum in Seoul on Dec. 6. The two countries, which established diplomatic relations 30 years ago, are planning to further cooperate in digital economy and green energy as well as manufacturing. Next year, their bilateral trade volume is expected to top US$100 billion for the first time in history.
At the forum, South Korean Deputy Prime Minister Choo Kyung-ho remarked that Vietnam and South Korea would strengthen their cooperation in industrial supply chains and for smart city, renewable energy and infrastructure development. He also mentioned that the two countries would play an important role together in the Indo-Pacific Economic Framework for Prosperity.
“The Vietnamese government will provide extensive support so that economic activities of South Korean enterprises in Vietnam can be more effective and sustainable,” said Vietnamese President Nguyen Xuan Phuc, adding, “It will make various efforts so that the bilateral trade volume can reach US$150 billion in 2035.” For reference, the volume topped US$80 billion in 2021.
On Dec. 5, the Vietnamese president met with South Korean President Yoon Suk-yeol and the Ministry of Trade, Industry and Energy of South Korea and the Ministry of Industry and Trade of Vietnam signed business agreements and MOUs for further bilateral cooperation related to key mineral resources, greenhouse gas reduction, clean energy development, carbon neutrality and trade promotion.