The Korea Trade-Investment Promotion Agency (Kotra) classifies Vietnam as one of four strategic export markets, the Korea JoongAng Daily reported on February 25.
Seoul (VNA) – The Korea Trade-Investment Promotion Agency (Kotra) classifies Vietnam as one of four strategic export markets, the Korea JoongAng Da♊ily reported on February 25.
As such, the agency will focus on connecting its producers with consumers in those four markets, namely Vietnam, China, Iran and Brazil in the first half of 2016.
Vietnam and China have joined a range of free trade agreements (FTAs); Iran has seen sanctions lifted; Brazil is the host of the upcoming Summer Olympics. These factors, among others, contributed to making the four markets appealing to Korean investors.
Kotra stresses the role of local small and medium-sized businesses in effectively entering the four potential markets and securing success.
Speaking at a press conference on February 24, Kotra CEO Kim Jae-hong stated his agency’s representative offices in these markets will support the initiative.
Last year, Vietnam was the third largest importer of the Republic of Korea. Kotra said it would aid local companies to capitalise on the FTA signed between the RoK and Vietnam, which now enters the second year.-VNA
The Korean Trade and Investment Promotion Agency (Kotra) in Hanoi will organise a meeting between local firms and 10 companies from the Republic of Korea (RoK) on September 8.
Vietnam has usurped Japan for the first time to become the fourth largest importer of products from the Republic of Korea (RoK), in the first seven months of this year.
Exports from the Republic of Korea (RoK) to Vietnam, Saudi Arabia and other rapidly-growing nations have enjoyed a double digit growth, according to the Korea Trade-Investment Promotion Agency.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative photo (Source: myseoulsearching.com)
