Vietnam’s Minister of Industry and Trade, Vu Huy Hoang, and Head of the RoK negotiating team, Bark Tae-ho, announced this in Hanoi on Monday. They agreed to negotiate the FTA in line with World Trade Organization regulations and enhance previous commitments on a FTA between the RoK and ASEAN. They said that they will adjust the scope and some of the fields covered by the agreement including trade, services, investment, economic cooperation regulations and other issues of mutual concern. They also agreed that the first round of negotiations will discuss the adjustments and structure, as well as the form of the negotiations as soon as possible.

The same day, Prime Minister Nguyen Tan Dung received Head of the RoK negotiating team, Bark Tae-ho in Hanoi. PM Dung reiterated Vietnam's unswerving policy of respecting cooperation with RoK for mutual benefits and co-development. He urged both countries to soon finalize bilateral FTA to boost bilateral ties, especially in economics, trade and investment. The PM also asked the Korean Ministry of Trade to continue supporting Vietnamese products' penetration in the Korean markets.