Việt Nam - Korea ties build momentum at business partnership meeting
The event, held on September 9, followed General Secretary Tô Lâm's state visit to South Korea, further solidifying bilateral trade relations.
HÀ NỘI — Việt Nam and South Korea are forging stronger links as the Việt Nam - Korea Business Partnership Meeting 2025, organised by the Korea Trade-Investment Promotion Agency (KOTRA) in Hà Nội, successfully showcased fresh opportunities for collaboration between the two nations.
Held on September 9 shortly after General Secretary Tô Lâm’s state visit to South Korea, the event further solidified bilateral trade relations.
The meeting featured 35 reputable South Korean companies presenting high-quality products across sectors including cosmetics and skincare, pharmaceuticals and healthcare, fresh fruits, food and beverages, national security equipment, AI technology in sports and entertainment, smart farming solutions, industrial machinery and construction equipment and building materials.
More than 200 direct business meetings took place, facilitating significant interactions to explore production capabilities, product quality and distribution channels, leading to numerous signed Memorandums of Understanding (MoUs).
CEO of Sungsan Corporation Kim Jeong Tae expressed enthusiasm about the event. He said that his company’s construction machinery had entered the Vietnamese market in 1991.
"Việt Nam's ongoing infrastructure development presents a promising market for construction equipment such as cranes and excavators. Việt Nam will play a crucial role in our continued expansion into Southeast Asian markets," he said.
He hopes that this direct trading event will further broaden collaboration opportunities with new partners in Việt Nam.
Director of Phu Gia Trading Company Limited Nguyễn Phương Đông, which specialises in importing consumer goods from various countries including South Korea, highlighted the benefits of the event.
He reported finding suitable Korean partners during the meetings, adding that the tax policies between the two countries facilitate trade with many items enjoying a 0 per cent tariff rate. This presents a competitive advantage.
He saw the trading sessions as a catalyst for new opportunities for businesses in both nations.
Việt Nam currently stands as South Korea's third-largest trading partner. In 2024, bilateral trade reached US$86.8 billion, a 9.2 per cent increase from the previous year.
2025 also celebrates the 10th anniversary of the Việt Nam - Korea Free Trade Agreement (VKFTA), coupled with General Secretary Tô Lâm's visit to South Korea, which amplifies expectations for enhanced economic collaboration. — BIZHUB/VNS
