Vietnam and the Republic of Korea mark 25 years of cooperation

Vietnam and the Republic of Korea have witnessed rapid, practical and comprehensive cooperation in politics, economic, development cooperation, culture, and people-to-people exchanges. The two countries upgraded bilateral ties to comprehensive partnership in 2001 and a strategic cooperative partnership in 2009. They have maintained regular exchanges between leaders at various levels, while bilateral cooperation mechanisms are established

Economic cooperation in spotlight

The Republic of Korea is one of Vietnam’s top economic partners and investors with more than 5,500 projects employing more than 700,000 people. The two countries aim to raise bilateral trade to 100 billion USD by 2020.

Deputy Foreign Minister Vu Hong Nam said: “The Vietnam-Republic of Korea strategic cooperative partnership has grown rapidly over the past few years. They have become close partners in all areas through high-ranking exchanges and people-to-people exchanges. Korea’s registered investment capital in Vietnam as of September was 55.8 billion USD making it Vietnam’s No 1 investor. These figures represent the flourishing ties.”

Yong-sun Choi, Chairman of the Hanshin Construction Company which has been investing in Vietnam’s bridge and road construction for more than 10 years, praised Vietnam’s investment environment. He said: "Our company has invested in projects to upgrade Vietnam’s infrastructure. We have launched 16 projects to build bridges and buildings. We will continue to cooperate with Vietnam.”

People-to-people, cultural exchanges promoted

Tourism is one of the main areas of bilateral cooperation between Vietnam and the Republic of Korea. Last year, the total number of tourists visiting the two countries was 1.8 million. Approximately 150,000 Vietnamese people are living and working in the Republic of Korea helping to promote bilateral friendship and cooperation.

The number of young Vietnamese people visiting and studying in Korea has been growing rapidly. Vietnam has become a popular Southeast Asia destination among Korean tourists. Vietnamese Ambassador to the Republic of Korea Nguyen Vu Tu said: “Vietnamese students in South Korea have been booming. They have been working with the Vietnamese Embassy and the Vietnamese Association to organize various activities to connect Vietnamese people and promote the image of Vietnam, its land and people. They play a key role in promoting movements to help disadvantaged people back home and supporting Vietnam’s maritime sovereignty protection.”

Regular friendship exchanges have increased mutual understanding and trust between the two countries. More than 40 localities in Vietnam and the Republic of Korea have established cooperation in education, training, and new rural development.