Vietnam and South Korea (SK) officially established diplomatic relations on December 2nd, 1992. Up to now, the cooperation relationship between the two countries has achieved remarkable development with profound collaboration of both countries in various fields, such as finance, infrastructure, transportation, communication technology, science and technology, agriculture, forestry and fishery, education and training, culture, etc…
SK has always maintained the number one position in direct investment (accumulated registered investment capital reached 81.3 billion USD); ranked second in development cooperation (3.75 billion USD), tourism, and labor; and ranked third in terms of trade cooperation (reaching USD 86.4 billion in 2022).
On 10th of March, the second economic cooperation dialogue at the deputy prime ministerial level between Viet Nam and SK was co-chaired by Vietnamese Deputy Prime Minister Le Minh Khai and Korean Deputy Prime Minister Kyungho Choo in Ha Noi.
The outcomes of the dialogue session, according to Deputy Prime Minister Le Minh Khai, will actively encourage the two countries' cooperation substantive, effective, and all-encompassing development in the new situation, where the two countries' relations were formally elevated to the level of Comprehensive Strategic Partnership in December 2022.
The Korea’s Deputy Prime Minister Choo Kyungho affirmed that Vietnam’s investment climate remains appealing for Korean enterprises. Many large Korean enterprises have contributed significantly to the development of Viet Nam, making Korea the top foreign investor in Vietnam.
The dialogue was highly appreciated by both sides as Deputy Prime Minister Le Minh Khai suggested relevant Vietnamese agencies to work closely with Korean agencies to jointly develop an action plan and effectively implement the results of this dialogue.
At the end of the meeting, the two Deputy Prime Ministers signed the Minutes of the second Vietnam - Korea Deputy-Prime Minister-level Economic Dialogue on economic cooperation between Vietnam and SK. Besides, Deputy Minister of Finance Vo Thanh Hung and Vice President of the Export-Import Bank of Korea Kim Tae Soo also signed a loan agreement for the project of upgrading Hoa Duyet - Thanh Luyen section, as well as Ha Noi - Ho Chi Minh City railway route.