"Meet Korea 2025" held in Hanoi

In the event "Meet Korea 2025", jointly organized in the northern province of Hung Yen on May 14 by the Ministry of Foreign Affairs, and the  Embassy of the Reppulic of Korea (RoK) in Vietnam, Deputy Prime Minister, Foreign Minister Bui Thanh Son highlighted that South Korea is currently the biggest foreign investor in Vietnam, with a total registered investment capital reaching over $92 billion in 10,128 projects, according to a report from the Government News.

South Korea is the second largest ODA, labor, and tourism partner and the third largest trading partner of Vietnam, the Deputy Prime Minister and Foreign Minister added.

Meanwhile, Vietnam is South Korea's biggest economic partner in ASEAN, accounting for 50 percent of the total trade turnover between South Korea and the bloc.

The two countries are set to increase their bilateral trade turnover to $100 billion by the end of this year and $150 billion by 2030, towards a balanced and sustainable manner.

The Vietnamese Government highly values the business activities and contributions of South Korean enterprises in the country, especially the strong shift from simple processing industries to high-tech industries, energy projects, finance and banking, and high-quality services, noted the Deputy Prime Minister.

He emphasized that the participation and support of South Korean partners is a crucial factor contributing to Vietnam's industrialization and modernization process both in the past and going forward.

He called on localities and businesses from both sides to proactively and actively seize opportunities in innovation, creativity, and the application of high technology and concentrate on building sustainable value chains, with a focus on shifting to new industries such as digital transformation, green economy, circular economy, semiconductors, environmentally friendly energy, biotechnology, and smart cities.

For his part, RoK Ambassador to Vietnam Choi Youngsam, as quoted by the Vietnam News Agency, praised Vietnam’s ongoing efforts to streamline its administrative apparatus at the provincial level, calling it an important step in preparation for breakthroughs in the new era.

The diplomat expressed hope that Vietnamese localities will continue to support and offer preferential policies for Korean businesses. He also affirmed his commitment to serving as a bridge for Korean enterprises to invest in Vietnam.

"Meet Korea 2025" drew the participation of leaders from 21 northern localities, and representatives of 150 Vietnamese and South Korean enterprises.