Ministry of Economy and Finance

Korea-Vietnam Business Forum

DPM CHOO Attends the Korea-Vietnam Business Forum

Deputy Prime Minister Kyungho CHOO attended the Korea-Vietnam Business Forum that was held in Seoul on December 6 in line with Vietnamese President Nguyen Xuan Phuc’s visit to Korea, marking the 30th anniversary of the establishment of diplomatic ties between the two countries. The forum serves as a platform where participants discuss economic cooperation and ways to expand bilateral investment and trade.

The forum was joined by about 300 officials from the two countries’ governments and businesses and was held under the theme of the 30th year of diplomatic relations between the two countries, new business opportunities and changes in paradigms. 

Prior to the forum, DPM CHOO met with Vietnamese President Nguyen Xuan Phuc and Vietnamese Standing Deputy Prime Minister Pham Binh Minh in separate settings. At the meetings, he pledged to cooperate on expanding bilateral economic cooperation and addressing difficulties that companies face following the recent elevation of the bilateral relationship to a ‘comprehensive strategic partnership (CSP)’.

In his welcoming remarks at this forum, DPM CHOO assessed that the two countries have become key economic cooperation partners in the trade and investment sectors based on their 30 years of mutual trust and support, and suggested three directions to strengthen economic cooperation between the two countries.

– Enhance the bilateral cooperation on supply chains through the Indo-Pacific Economic Framework for Prosperity (IPEF) and other arrangements as the bilateral cooperation on supply chains has become more important than ever due to the recent global issues including the spread of the pandemic and the creation of regional economic blocs

– Provide support for promoting the bilateral cooperation in private sectors by strengthening the government-to-government (G2G) communications, expanding trade finance, improving customs systems and reinforcing the role of overseas cooperation platforms and work together with Vietnam for the volume of bilateral trade to reach 100 billion dollars in 2023

– Expand the bilateral cooperation on promising sectors such as smart city, ICT, new renewable energy and environmental infrastructure to achieve the transformation to a green and digital economy

Please refer to the attached pdf.