Electronic components production line at Synopex Vietnam Co Ltd (invested by Korea), in Quang Minh Industrial Park in Ha Noi. — VNA/VNS Photo Danh Lam About 50 businesses from South Korea are seeking Vietnamese partners, especially in the field of robotics and automation. The information was released at a workshop on promoting robotics and automation held by the Ministry of Planning and Investment’s Foreign Investment Agency, ASEAN-Korea Centre and Vietnam Association of Supply Industry in Ha Noi on Friday. Lee Hyuk, Secretary-General of the ASEAN-Korea Centre, said South Korean firms expected to share information and technology, and develop co-operation with Vietnamese businesses in the field of robotics. South Korea is a leader in the production and application of robots in industrial production on a global scale. This is a strength contributing to economic development of the country, creating famous products favoured by consumers. Lee said Korean achievements in the … [Read more...] about Viet Nam, S Korea boost co-operation in robots and automation
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Viet Nam, South Korea to intensify co-operation in finance
Viet Nam hopes that South Korean investors will participate more deeply in the equitisation process of Vietnamese enterprises. The statement was made by Ha Huy Tuan, vice chairman of the National Financial Supervisory Commission, at the 8th International Conference on Finance and Economics, co-organised in Ha Noi on March 21-22 by the Viet Nam Chamber of Commerce and Industry (VCCI), Viet Nam’s Ministry of Finance (MOF), The South Korea’s Financial Supervisory Service (FSS) and South Korea’s magazine EDAILY. “We really hope that Korean investors will grasp co-operation opportunities by participating in the equitisation process of Vietnamese enterprises, especially the restructure of the banking sector and the application of fintech (financial technology),” Tuan said. "The application of fintech to build a comprehensive public finance management system in Viet Nam has great potential because the country has a young population, good internet infrastructure … [Read more...] about Viet Nam, South Korea to intensify co-operation in finance
Viet Nam considered gateway for RoK to enter ASEAN: forum
Viet Nam is seen as a gateway for businesses from the Republic of Korea (RoK) to enter the ASEAN market, said experts at a forum in Ha Noi on December 3. The forum on the RoK’s New Southern Policy and the importance of RoK-Viet Nam relations was co-organised by the National Centre for Socio-economic Information and Forecasting (NCIF) and the Korean Institute for International Economic Policy (KIEP). In his opening speech, NCIF Director Tran Hong Quang said over the past three decades, Viet Nam-RoK relations have seen fine developments in all fields. At present, the RoK is one of the two largest foreign investors in Viet Nam with accumulated capital of US$57.6 billion by the end of 2017. Viet Nam is also the fourth largest investment destination and the biggest aid recipient of the RoK. The RoK is the second largest trade partner of Viet Nam, with two way trade increasing 117 times since 1992, when the two nations set up their diplomatic ties, hitting $61.5 billion last year. The … [Read more...] about Viet Nam considered gateway for RoK to enter ASEAN: forum
Popular Korean artists to perform at Viet Nam – Korea food and culture festival
This year’s event will also gather Korean artists including Jeebanoff, Zizo, Reggae M.Tyson, Maasung and Vietnamese singer NIT. The annual festival will also feature more than 100 display booths of Korean and Vietnamese businesses, intruding traditional food of the two countries. The event will include a series of fascinating programs and activities, such as the Viet Nam-South Korea Talent Scout competition, and Korean Vietnamese cooking class The event which was held for the first time in 2008 is co-organized by the Viet Nam’s Ministry of Culture, Sports and Tourism, Korean Embassy in Viet Nam, the Hanoi Municipal People’s Committee , Korean Community in Ha Noi, Korea Agro-Fisheries Trade Corp (aT), Korea Project on International Agriculture (KOPIA), and Korean Cultural Center in Viet Nam. By MAI AN – Translated by Kim Khanh Tags: Korean artists the 2018 Vietnam – Republic of Korea (RoK) culture and food festival … [Read more...] about Popular Korean artists to perform at Viet Nam – Korea food and culture festival
Việt Nam, Korea enhance mutual understanding through tugging
Viet Nam News Minh Thu HÀ NỘI — Though tug-of-war might be a simple game, it’s hard to deny how fun it is to play and watch, something that was on display on Friday in Hà Nội. Muscular men from Việt Nam and South Korea performed their traditional tug-of-war games on Friday at Trấn Vũ Temple, Long Biên District. While Vietnamese tug of war game uses a 50m-long rope made from rattan, the South Korea game uses a big rope made from straw. No matter what the rope is made from, the attraction from the game can’t be denied. The Information and Networking Centre for Intangible Cultural Heritage in Asia-Pacific and the Việt Nam Centre for Research and Promotion of Cultural Value organised the event, aiming to strengthen the friendship between the two countries, according to PhD Lê Thị Minh Lý from the centre. “Việt Nam and South Korea are two among four … [Read more...] about Việt Nam, Korea enhance mutual understanding through tugging
Việt Nam-Korea trade up but deficit grows
Viet Nam News HÀ NỘI — Over the past 25 years, the economic ties between Việt Nam and South Korea have flourished, but the trade imbalance between the two countries has reached an alarming level. Bark Tae Ho, South Korea’s former Minister of Trade, spoke on the topic during a seminar in Hà Nội on Friday. The seminar – themed “Future prospects for Việt Nam-South Korea investment-trade ties” – was organised by the Global Commerce Institute Lee & Ko, South Korea’s Trade-Investment Promotion Agency and the Việt Nam Chamber of Commerce and Industry. At the event, delegates assessed achievements in Việt Nam’s bilateral trade ties after three years of the Việt Nam-South Korea Free Trade Agreement (VKFTA) and discussed remaining issues. “Việt Nam is Korea’s fourth biggest trade partner after China, the US and Japan,” Bark Tae Ho said. “Two-way trade … [Read more...] about Việt Nam-Korea trade up but deficit grows
Việt Nam-Korea FTA gives boost to two-way trade
Viet Nam News HÀ NỘI — The Việt Nam-Korea Free Trade Agreement (VKFTA), which took effect on December 20, 2015, has played an important role in attracting investments from the South Korea to Việt Nam and helping the Southeast Asian nation integrate deeper into the regional economy. Lê An Hải, Deputy Director of the Vietnamese Ministry of Industry and Trade (MoIT)’s Department of Asia and Africa Markets, made the statement at a forum on VKFTA utilisation and implementation held in Hà Nội yesterday. Việt Nam is currently the fourth largest recipient of foreign direct investment (FDI) from South Korea, while the East Asian country is the biggest foreign investor in Việt Nam with total registered capital of more than US$58 billion, Hải stressed. “The target of increasing bilateral trade volume to $100 billion by 2020 is possible towards creating more linkages between the two … [Read more...] about Việt Nam-Korea FTA gives boost to two-way trade
Viet Nam National FinTech Day in May
The National FinTech Day will be held in May. — Photo cafef.vn The State Bank of Viet Nam (SBV) will organise the National FinTech Day in May. This is the first major event of FinTech in the country, with the participation of FinTech management agencies, the start-up community, commercial banks, experts from Viet Nam, as well as foreign countries. Speaking at the Viet Nam-Korea Financial Co-operation Forum on March 22, SBV’s governor Le Minh Hung stressed that the industrial revolution 4.0 is causing a boom in technology, bringing many opportunities, creating added value and is a great driving force for economic development. Banking and finance is a pioneer sector in rapidly adopting and applying the superior features of technology solutions to enhance innovation, improve products and services, and reduce costs, thereby bringing benefits to customers, he said. "On the other hand, the financial and banking system may face many challenges due to the presence of machines and … [Read more...] about Viet Nam National FinTech Day in May
Viet Nam, RoK firms to boost technology transfer
Representatives of Vinh Phuc Investment Trading Company Limited and RoK’s Jeonwoo Precision Company Limited sign an agreement in the matching programme. — VNS Photo Phuong Thao Enterprises from the Republic of South Korea want to boost their co-operation with Vietnamese firms, especially ones working in the technology sector due to the huge potential in the Vietnamese market. The statement was made by Kyu-Min Baek, director of global innovation at the Korea’s Innobiz Association, at the Viet Nam – Korea small- and medium–sized enterprises (SMEs) technology matching conference held in Ha Noi on Thursday. The seminar was organised in the framework of South Korean President Moon Jae-in’s state visit to Viet Nam from March 22-24. The event is a chance for Vietnamese enterprises to access advanced South Korean products and technologies and promote opportunities for investment and business co-operation between enterprises from the two countries. Through … [Read more...] about Viet Nam, RoK firms to boost technology transfer
Many Korean goods to receive Viet Nam tax exemption
Korean goods are displayed in Vietnamese supermarkets. — Photo foody.vn Many goods imported from the Republic of Korea (RoK) into Viet Nam will be exempted from import taxes in 2018, due to the Viet Nam-Korea Free Trade Agreement (VKFTA). The Government recently issued Decree No149/2017/ND-CP, which regulates a new special preferential import tariff, as agreed upon in the VKFTA, and to be put in place between 2018 and 2022. Under the decree, import taxes imposed on 704 types of products imported from the RoK to Viet Nam, will be eliminated in 2018. The groups of commodities that will enjoy tax exemptions this year are mainly in seafood, wheat flour, confectionery, diesel fuel, jet fuel, paint, laundry detergent, plastic, iron and steel products, power machinery and equipment, and electronic products. In 2018, an additional 653 products imported from the RoK will also have their tax rates lowered from last year. The preferential tax rates will be applied to commodities directly … [Read more...] about Many Korean goods to receive Viet Nam tax exemption