For over 20 years, Vietnam - South Korea relationship has developed at a very fast pace in most fields, especially economy. The two countries not only support one another but also actively create opportunities to meet and seek partners via forums, seminars, conferences and exhibitions, thus helping promote the development of investment and business relationships. To help Vietnamese and South Korean companies to exchange information and seek investment business cooperation partners, the Ho Chi Minh City Branch of the Vietnam Chamber of Commerce and Industry (VCCI - HCM) in collaboration with DBrain Company and the Jeolla Trade Representative Agency (JBBA Korea) held a "Vietnam - South Korea trade exchange." At the exchange, South Korean companies introduced their capacity in food, cosmetics, raw materials, chemicals, equipment, camera, and security surveillance systems. This event is also a chance for Vietnamese and South Korean companies to showcase their capacity and partnership … [Read more...] about Vietnam – South Korea Trade Exchange
South korea trade
ASEAN-South Korea trade pact to boost exports
ASEAN-South Korea trade pact to boost exports (02-06-2007) SEOUL — The ASEAN-South Korea Free Trade Agreement effective yesterday will give Viet Nam the chance to boost exports to South Korea, but the country has to brace itself for stiff competition, according to Bui Quang Hao, the Vietnamese commercial counselor in Seoul. The new agreement, which only Thailand has yet to sign, would remove tariff barriers by 2010 against 92 per cent of goods traded between ASEAN states and South Korea. Beginning immediately, Vietnamese products such as coffee, tropical fruit and rice will be able to penetrate the South Korean market. Under the agreement, the first trade agreement made between South Korea and an economic bloc, South Korea will give tax exemptions to 7,991 out of 12,063 products while ASEAN countries will reduce import duties to 0-5 per cent on 45 per cent of products in the list. ASEAN countries have also agreed to apply preferential taxes on commodities which are produced in … [Read more...] about ASEAN-South Korea trade pact to boost exports
South Korea trade to top $10 billion
The event was attended by a delegation of 20 leading South Korean companies which is visiting Viet Nam to seek business opportunities. They operate in construction materials and machinery, telecom, electronics, agriculture, and other sectors. Since establishing diplomatic ties in 1992, the two countries have developed co-operation in many fields like trade, investment, culture and education, Ju-Tae said. After Viet Nam joined the World Trade Org-anisation and the Free Trade Agreement between ASEAN and Korea came into effect in 2007, the two countries posted rises in bilateral trade of over 40 per cent in 2007, 2008 and 2009, from $7.2 billion in 2008 to $9.5 billion last year, he said. Both governments target bilateral trade turnover of $20 billion in 2015, he added. Kim Sang Yoon, Korean Consul General in HCM City, said with more than 2,495 projects worth a total registered capital of $22.4 billion, South Korea is Viet Nam's second largest foreign investor. There are more than 1,400 … [Read more...] about South Korea trade to top $10 billion
Promoting South Korea trade
Fabrics are produced at Dam San Knitting Co in Thai Binh Province. All the firm's products are exported to South Korean, Chinese and Mongolian markets. — VNA/VNS Photo Ha Thai HA NOI — There was still plenty of room for Vietnamese and South Korean businesses to foster co-operation, especially in the trade and investment sectors, deputy head of the Ministry of Industry and Trade's Trade Promotion Agency Do Xuan Ha told a business conference held yesterday in Ha Noi. Ha said he hoped more and more Korean firms would come to Viet Nam to learn about the domestic business and investment climate in order to seek new co-operation opportunities. Viet Nam had emerged as an economy with huge development potential, said chairman of the Korea Importers Association (KOIMA) Ju-Tae Lee, adding that the country also offered good opportunities for foreign investors. He said that the event, with the participation of over 30 Korean firms, would help Viet Nam's exporters update the Korean … [Read more...] about Promoting South Korea trade
South Korea trade forecast to reach $16b
Representatives from Vietnamese and Korean companies meet at a seminar on bilateral trade promotion in HCM City yesterday. — VNA/VNS Photo The Anh HCM CITY -— Bilateral trade between Viet Nam and Korea could top US$16 billion this year, Ha Chan Ho, Korean Ambassador to Viet Nam, told participants at a seminar in HCM City yesterday. The seminar coincided with the opening of the Korea International Trade Association (KITA) representative office in HCM City. Since establishing diplomatic ties in 1992, the two countries have developed co-operation in many fields, including trade and education, Ha Chan Ho said. Addressing the event, KITA chairman Sakong Il said bilateral trade had increased strongly in the past years, from US$500 million in 1992 to $13 billion last year. With more than 2,500 projects worth a total registered capital of nearly $23 billion, Korea is Viet Nam's largest foreign investor. Previously, Korean businesses primarily focused their investments in … [Read more...] about South Korea trade forecast to reach $16b