Much success in 30 years of Vietnam - South Korea relations

In the 30 years since the establishment of diplomatic relations in 1992, Vietnam and South Korea have posted a host of important achievements in various endeavors, Deputy Minister of Foreign Affairs Pham Quang Hieu told the Vietnam - South Korea Cooperation Forum on July 24, held as part of celebrations of the 30th anniversary of diplomatic ties.

South Korea is the leading foreign investor in Vietnam, is  second in official development assistance (ODA), labor exports, and tourism, and third in trade. Mr. Hieu believes that the two sides will continue to improve the quality of economic, trade, and investment cooperation and will strive to reach bilateral trade turnover of $100 billion by 2023 and $150 billion by 2023.

The two have become key partners of each other, he went on. Economic cooperation has always been an important pillar and bright spot in cooperation. Leaders of the two sides affirmed that they will continue to promote the continued development of the cooperative relationship.

H.E. Park Noh Wan, Ambassador of the Republic of Korea to Vietnam, said that since the establishment of diplomatic relations, South Korea and Vietnam have shared unprecedented success, becoming reliable partners in the field of trade and investment.

Mr. Kim Kil Soon, President of the Korea & Vietnam Economic and Cultural Association (KOVECA), said the history and culture of the two countries have much in common and a great deal has been achieved over the past 30 years. KOVECA, representing South Korea, will actively work for Vietnam’s economic development and cultural and social development by maximizing the promotion of trade, tourism, and investment.