South Korea's investment in Vietnam reaches $87.5 bln as of June

Vietnam attracted over 10,000 projects from the Republic of Korea as of June this year with a total investment capital of nearly $87.5 billion, the Government News has reported.

In the first half of the year, Korean firms invested $1.4 billion into Vietnam, a year-on-year increase of 16%. 

South Korea ranked fourth among 84 countries and territories investing in Vietnam.

The figures were released at the first meeting of the cooperation committee on small and medium enterprises and startups between Vietnam’s Ministry of Planning and Investment (MPI) and South Korea's Ministry of Small and Medium size Enterprises (SMEs) and Startups that took place in Hanoi on August 28.

The meeting served as a platform to discuss the development of SMEs in both countries and identify key areas for future support.

Minister of Planning and Investment Nguyen Chi Dung expressed confidence that the committee's activities, supported by research institutes and SME associations, will lead to effective joint projects, particularly in high-tech agriculture, food processing, pharmaceuticals, semiconductors, and electronics.

He also stressed the importance of integrating Vietnamese SMEs into the South Korea and global supply chains, reaffirming the ministry's commitment to supporting business development.

The MPI encouraged the South Korean businesses to expand investments in areas where South Korea excels and Vietnam has high demand, such as the digital economy, green economy, and emerging industries like semiconductors, AI, and hydrogen.

Minister Oh Young Joo of the Ministry of SMEs and Startups recognized the significance of the meeting as a step toward a new chapter in bilateral cooperation, expressing her hope for concrete plans to implement the MoU signed between the two sides.