Both host and guest noted with satisfaction that the two countries’ relations have been developing unceasingly in all aspects over 30 years since bilateral diplomatic relations were set up.

PM Pham Minh Chinh (R) and Speaker of the RoK’s National Assembly Kim Jin-pyo in Hanoi on January 17.

At present, the RoK is ranking first among foreign investors in Vietnam with total capital reaching 80.5 billion USD; second in terms of development cooperation, tourism, and labour; and third in terms of trade with revenue hitting 88 billion USD in 2022. About 8,000 Korean enterprises are operating in Vietnam. Meanwhile, some 200,000 citizens of each country are living in the other country, including about 80,000 multicultural families.

PM Chinh congratulated the RoK on its national development achievements and thanked the country’s State, NA, and people for their precious, practical, and effective assistance for Vietnam in the recent past.

Congratulating Vietnam on fast and steady economic growth amid difficulties, Speaker Kim appreciated the Vietnamese Government’s attention to the development of the Korean business community.

He called on the Government of Vietnam to support his country’s hosting of World Expo 2023 in Busan; continue facilitating Korean firms’ operations in Vietnam; help Korean banks open branches; facilitate RoK citizens' travel, work, and life in Vietnam; and back the expansion of the RoK’s educational establishments in the Southeast Asian nation.

PM Chinh pledged to consider his guest’s proposals.

To achieve the goals of the Vietnam - RoK comprehensive strategic partnership, he asked Kim and the RoK’s parliament to continue promoting substantive, efficient, and effective cooperation; increase all-level delegation exchanges and meetings between the countries’ Parties, Governments, and NAs; intensify cooperation in security and defence, especially the defence industry; and help Vietnam improve the capacity of its law enforcement forces at sea.

As economic ties remain an important pillar of bilateral cooperation, Chinh asked the two sides to work together to fruitfully implement the Vietnam - RoK Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP) to raise bilateral trade to 100 billion USD in 2023 and 150 billion USD by 2030 in a balanced and sustainable manner.

Vietnam welcomes Korean enterprises' expansion of investment, especially in high technology, science - technology, innovation, green economy, digital economy, digital transformation, clean energy, smart city, and eco-city development, the PM noted, calling on them to create conditions for Vietnamese businesses to take part in supply chains to help Vietnam soon become a centre of regional and global value chains.

He expressed his hope for the RoK’s continuation of ODA cooperation mechanisms and assistance for Vietnamese people in the RoK. He also pledged support for Korean investors and citizens in Vietnam.

At the meeting, PM Chinh also affirmed that Vietnam always pays attention to and is ready to actively contribute to the denuclearisation of the Korean Peninsula, and that it advocates efforts to maintain peace in the Northeast Asian region via dialogue and by peaceful means.

For his part, Speaker Kim said the RoK supports and shares the common vision on the safeguarding of security, safety, and freedom of navigation and overflight in the East Sea; the maintenance of peace, stability, and legal order; the peaceful settlement of sea disputes; and the ensuring of countries’ rights and legitimate interests in line with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).

Vietnam becomes largest importer of RoK

The Republic of Korea (RoK) posted a trade surplus of 34.26 billion USD with Vietnam in 2022, according to the country's Ministry of Trade, Industry and Energy (MOTIE).

RoK – Vietnam’s largest foreign tourist source

Vietnam saw 3.66 million foreign tourist arrivals last year, and those from the Republic of Korea (RoK) accounted for the largest proportion with over 965,000, or 26.4%.

Daegu city’s Federation of Trade Unions (RoK) pays working visit to Bac Giang’s Confederation of Labour

(BGO)- A delegation of the Federation of Trade Unions of Daegu city (Republic of Korea) led by Kim Wi Sang, Chairman of the Federation on December 7 paid a working visit to the provincial Confederation of Labour in northern province of Bac Giang.

President wraps up State visit to RoK

President Nguyen Xuan Phuc and a high-ranking delegation of Vietnam arrived in Hanoi on December 7 morning, concluding a successful State visit to the Republic of Korea (RoK) at the invitation of President Yoon Suk-yeol.

President wishes RoK groups to invest more in Vietnam

President Nguyen Xuan Phuc has wished that the Republic of Korea (RoK)'s corporations would invest more in Vietnam and work closely with Vietnamese partners to make economic cooperation between the two countries on par with their diplomatic ties.

Source: VNA