Experts have discussed ways to improve Vietnam's agricultural exports to South Korea. The Vietnam-South Korea trade promotion forum for agricultural products 2019 At the Vietnam-South Korea trade promotion forum for agricultural products 2019, Tran Thanh Nam, deputy head of the Ministry of Agriculture and Rural Development said South Korea imported USD35.2bn worth of agricultural products last year, but only 5.9% of which were from Vietnam. The majority of the exports from Vietnam to South Korea are wood furniture, aquatic products and fruits. Vietnam had also only been allowed to export five types of fruits to South Korea. South Korea imports up to USD8.44bn worth of vegetables and fruits, most of them are cabbage, lettuce, radish, chilli, garlic, and bell pepper. It is estimated that South Koreans eat an average of 200kg vegetables each year. Korea Chamber of Business in Vietnam’s (KorCham) vice-chairman Hong Sun said that there was a huge potential since Vietnam's … [Read more...] about Vietnam considers exploiting South Korea export potential
South korea trade
South Korea investors reroute investment to Vietnam from China
The Hanoitimes - Investment in Vietnam accounted for 17.7% of South Korea’s overseas financing in 2017, compared to 3.7% in 1990. More South Korean manufacturers have poured money into Vietnam and many of them have shifted their investment to the Southeast Asian country from China, Vietnam News reported. A trade promotion conference between Vietnam and South Korea. Photo: Internet In 2017, South Korean small and medium manufacturers invested a total of US$720 million in Vietnam, compared to US$430 million in China, the Federation of Korean Industries (FKI) said in a report released on November 22. Investment in Vietnam accounted for 17.7% of South Korea’s overseas financing in 2017, compared to 3.7% in 1990. Meanwhile, the ratio in China fell to 27.6% in 2017 from 44.5% in 2000s, the report showed. The FKI attributed the increasing investment in Vietnam to better business environment and favorable policies. Vietnam has offered tax … [Read more...] about South Korea investors reroute investment to Vietnam from China
South Korea’s Lotte to revive largest trade complex in Hanoi
The Hanoitimes - Lotte Mall Hanoi is designed to offer 1,200 shops, 48 restaurants and cafés, a supermarket of 8,500 square meters (sq.m), a cinema, and 71,000-sq.m of underground parking lots. South Korean Lotte Group is preparing to kick off construction of a US$600-million trade complex in Hanoi later this year, becoming the city’s largest mall once it is put into operations in 2021. Lotte Center Hanoi, the second-highest building in the city. Photo: Internet Lotte Group acquired this project from Nam Thang Long Urban Area Development Co., Ltd in 2017. The value of the acquisition deal was not disclosed, but sources said the Hanoi authority licensed a Lotte trade complex project worth US$300 million after the acquisition. The original mall project, called Ciputra Mall, was designed to cover an area of 7.3 hectares, with 1,200 shops, 48 restaurants and cafés, a supermarket of 8,500 square meters (sq.m), a cinema, and 71,000-sq.m … [Read more...] about South Korea’s Lotte to revive largest trade complex in Hanoi
Việt Nam-Korea trade up but deficit grows
Heo Yoon, a Professor from Sogang University Graduate School of International Studies and President of the Korean Association of Trade and Industry Studies, addresses the seminar on Friday. — VNS Photo Linh AnhViet Nam News HÀ NỘI — Over the past 25 years, the economic ties between Việt Nam and South Korea have flourished, but the trade imbalance between the two countries has reached an alarming level. Bark Tae Ho, South Korea’s former Minister of Trade, spoke on the topic during a seminar in Hà Nội on Friday. The seminar – themed “Future prospects for Việt Nam-South Korea investment-trade ties” – was organised by the Global Commerce Institute Lee & Ko, South Korea’s Trade-Investment Promotion Agency and the Việt Nam Chamber of Commerce and Industry. At the event, delegates assessed achievements in Việt Nam’s bilateral trade ties after three years of the Việt Nam-South … [Read more...] about Việt Nam-Korea trade up but deficit grows
Vietnam, South Korea promote copyrights protection in digital environment
The Hanoitimes - Vietnam has a basic legal framework to protect intellectual property (IP) rights and a national strategy on the development of IP rights. A Vietnam-South Korea copyrights forum 2018 took place in Hanoi on October 31 to discuss issues concerning copyrights management and protection in digital environment. At the forum Head of the Ministry of Culture, Sports and Tourism’s Copyright Office of Vietnam Bui Nguyen Hung said that the event, entitled "Finding copyrights management solutions in digital environment", provided a chance to review legal enforcement on copyrights and acquire South Korea’s experience in the field. Hung noted Vietnam has a basic legal framework to protect intellectual property (IP) rights and a national strategy on the development of IP rights, adding that the country joined international agreements on IP protection and raised public awareness of IP rights. However, how to effectively enforce these laws and to reverse the … [Read more...] about Vietnam, South Korea promote copyrights protection in digital environment