Korean agency commits to promote bilateral trade and investment relations

Samsung – one of the Korean businesses in Vietnam (Photo: congthuong.vn)

During the inauguration ceremony, Kim Ki Joon, President of KOTRA ASEAN and Oceania, pledged to promote bilateral trade and investment relations between the Republic of Korea (RoK) and Vietnam, adding that the agency will soon set up the RoK – ASEAN economic center to support Korean businesses’ operations in ASEAN.

Since establishing diplomatic relations with Vietnam in 1992, the Korean Government has continuously promoted bilateral trade through KOTRA trade and investment activities. As of late 2018, Vietnam was the 4^th largest trade partner of the RoK and became the largest investment attraction destination from RoK among ASEAN countries. Meanwhile, the RoK is Vietnam’s second trade partner and the largest investor in Vietnam.

Appreciating the importance of Vietnam with business communities, KOTRA officially moved its headquarters for ASEAN and Oceania from Singapore to Vietnam’s Hanoi on August 1^st, 2018, and set up an additional office in Da Nang in late 2018.

Noting that as Vietnam is considered an important strategic partner of RoK with some 6,000 Korean businesses operating in the country, Mr. Kim Ki Joon stressed that KOTRA will act as a bridge to link cooperation and development between the two countries in the future./.