Global Net
Korean Minister of Trade, Industry & Energy Yoon Sang-jik attended the Korea-Vietnam Incubator Park Opening Ceremony and the 6th Korea-Vietnam Inter-Ministerial Committee Meeting on Nov. 14 in Can Tho, Vietnam.
The incubator park is the first Korean techno park built outside of Korea. Its purpose is to help Korean small and medium enterprises expand their businesses in Vietnam. At present, about 15 companies, including LS Mtron and Hanjin, are mulling over joining the incubator park.
“The incubator park will be a new type of ODA, contributing to Korean companies’ expansion in overseas markets and meeting emerging countries’ industrial cooperation demands at the same time instead of focusing on infrastructure establishment or social development projects,” said the Ministry of Trade, Industry & Energy, adding, “We hope that it will be a new benchmark model for cooperation with emerging economies.”
At the inter-ministerial committee meeting, the participants discussed mutual cooperation in the fields of nuclear power plant operation, the materials and components industry, the energy sector, etc. There, both parties agreed to make more efforts for a new contract for oil storage facilities, the implementation of the bilateral FTA and business rights with regard to three thermoelectric power plants Korean companies are participating in.