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
North, South Korea trade artillery rounds into the sea: Seoul
North Korea fired more than 100 artillery rounds into South Korean waters as part of a drill on Monday, prompting the South to fire back, officials in Seoul said, but the exercise appeared to be more saber-rattling from Pyongyang rather than the start of a military standoff. The North had flagged its intentions to conduct the exercise in response to U.N. condemnation of last week's missile launches by Pyongyang and against what it says are threatening military drills in the South by U.S. forces. North Korea also accused the South of "gangster-like" behavior at the weekend by "abducting" one of its fishing boats and threatened to retaliate. The South said it had sent the boat back after it drifted into its waters. More than 100 North Korean shells out of 500 or so fired landed in South Korean waters, prompting marines from the South to fire back with more than 300 rounds into the North's waters, defense officials in Seoul said. Seoul also scrambled F-15s on its side of the … [Read more...] about North, South Korea trade artillery rounds into the sea: Seoul
North, South Korea trade live fire over sea border
The two Koreas traded hundreds of rounds of live artillery fire across their disputed maritime border Monday, forcing South Korean islanders to take shelter. The two Koreas traded hundreds of rounds of live artillery fire across their disputed maritime border Monday, forcing South Korean islanders to take shelter a day after the North drove up tensions by threatening a new nuclear test. The exchange, triggered by a three-hour North Korean live-fire exercise that dropped shells into South Korean waters, was limited to untargeted shelling into the sea, military officials said. South Korea's defence ministry said the North fired some 500 shells during the drill, around 100 of which landed on the south side of the sea boundary. Ministry spokesman Kim Min-Seok said the South had responded to Pyongyang's "premeditated provocation" by firing 300 shells from K-9 self-propelled howitzer batteries based on its front-line islands. "If the North takes issue with our legitimate … [Read more...] about North, South Korea trade live fire over sea border
EU-South Korea trade deal takes effect
A sweeping free trade pact between the European Union and South Korea, the first in Asia for the world's largest economic bloc, came into effect on Friday, officials in Seoul said. "The South Korea-EU Free Trade Agreement (FTA) took effect as of early Friday," Kim Hee-Sang, director for FTA negotiations at the Ministry of Foreign Affairs and Trade, told AFP. The ministry said in a statement that the deal would "open up new opportunities for trade and investment" between South Korea and the EU and strengthen diplomatic relations between the two partners. Under the pact, 70 per cent of customs duties will be immediately scrapped, rising to 98.7 per cent over the next five years. Tariffs on 96 per cent of EU goods and 99 per cent of South Korean goods will be eliminated within the next three years. The EU is currently South Korea's second largest trading partner after China, taking almost 20 per cent of its exports. EU exports to South Korea are worth 28 billion euros ($40.5 billion), … [Read more...] about EU-South Korea trade deal takes effect