Vietnamese and korean relationship

North Korea–Vietnam relations - Wikipedia

vietnamese and korean relationship

AS AMERICA presses North Korea to abandon nuclear weapons, it has Vietnam's normalisation of relations came in , just two decades. Since the establishment of diplomatic relations Dec. 22, , Vietnam and South Korea have rapidly expanded their ties into a. HANOI ― Korea and Vietnam agreed to upgrade their bilateral strategic cooperative partnership into a more comprehensive one, President.

Korea, Vietnam to upgrade relations

In addition to economic growth, exchanges and cooperation on culture, education, tourism between the two countries have also been strengthened. There are aboutSouth Koreans living and working in Vietnam and aboutVietnamese in South Korea, in which more than 60, people are Vietnamese brides married to South Koreans. South Korean-Vietnamese multicultural families have been and will be the "public diplomatic messengers" to promote the "alliance" relations between the two countries.

In addition, cooperation in the field of training is becoming more and more developed. In recent years, the number of Vietnamese students learning Korean at university or higher has increased rapidly. There are more than 20, Vietnamese students in South Korea.

vietnamese and korean relationship

In terms of tourism, Vietnam was the most popular destination for South Koreans in Southeast Asia in when about 2. The number of Vietnamese tourists to South Korea increased by more than 70 percent, equivalent to overvisitors.

In the future, the bilateral relations are expected to continue to produce more achievements.

A glimpse into the future of Korean-Vietnamese ties

Located in the heart of the ASEAN region, Vietnam has a stable political environment, a culture that is very similar to South Korea, and strong economic growth, which becomes an attractive destination and potential market for South Korean investors and enterprises. Vietnam's GDP growth rate in the past 10 years has always been over 6 percent, the inflation rate is well controlled under 5 percent, the foreign exchange rate is stable, with no fluctuation and abnormality affecting the economy.

Vietnam has also expanded its relations with other countries in the region and throughout the world through bilateral and multilateral cooperation mechanisms such as the signing of 16 free trade agreements FTAsincluding South Korea and the European Union EU. In addition, the government of Vietnam is actively proposing policies that help to create a favorable business environment and attract foreign investment, such as infrastructure improvements and state enterprise equitization promotion, liberalization and business equality intensification.

Specifically, the state still only monopolizes trade activities in 20 fields; over 96 percent of administrative procedures have been simplified; a one-door mechanism for export origin certificate of goods in ASEAN with four countries Indonesia, Malaysia, Thailand and Singapore is applied.

vietnamese and korean relationship

With increased investment, people-to-people exchanges also continued to grow over the years and this in turn led to more cooperation not only in the economic sector, but also between local governments, the academia, the entertainment industry, and the youth. Given the natural connection between our peoples and the mutually reinforcing nature of our relationship, I am certain that the coming years will witness even further deepening of our friendship and strengthening of common interests.

I expect trade and investment to continue to grow between our two countries and as ambassador will make every effort so that our cooperation can contribute to the socioeconomic development of Vietnam. What trends do you foresee in this front?

Within a year since its entry into force, we witnessed double-digit growth This creates a favourable business environment for Korean companies, thereby making Vietnam an even more attractive investment destination. Moreover, as one of the fastest growing economies in the world, Vietnam has huge potential for growth in various industries, including materials, infrastructure, energy, finance, medicine, and information technology.

Milestone for South Korea-Vietnam relations

Indeed, there are already many companies in Korea well-equipped with capital, state-of-the art technology, and strong management abilities that are paying special attention to Vietnam and ASEAN in their search for new markets. Vietnam is a key production base for many Korean companies, including Samsung and LG.

vietnamese and korean relationship

Hence, as the Vietnamese export market is further expanded and diversified through various bilateral and mega-FTAs, including the RCEP, Korean firms will be encouraged to expand their investments and take full advantage of the preferential access to regional and global markets.