Korea, Vietnam vow stronger ties in cutting-edge sectors, building on FTA
Korea and Vietnam vowed to further bolster economic exchanges with the goal of increasing bilateral trade to $150 billion by 2030 and strengthening supply chain cooperation, Seoul's industry ministry said Wednesday. The two countries made the pledge during meetings of their joint industrial cooperation free trade agreement committees in Seoul, according to the Ministry of Trade, Industry and…
Korea and Vietnam committed to enhancing economic ties, with the objective of raising bilateral trade to $150 billion by 2030, according to the Ministry of Trade, Industry and Resources. This pledge was made during discussions at their joint industrial cooperation free trade agreement committees in Seoul. Industry Minister Kim Jung-kwan and his Vietnamese counterpart, Le Manh Hung, deliberated on strategies to meet the 2030 target and pledged to advance in discussions on importing Vietnamese lychees and passion fruit, as well as exporting Korean tangerines and kiwifruit.
In 2025, bilateral trade between the two nations was valued at $94.6 billion, with the figure reaching $62.4 billion during the first half of the year. The nations agreed to tackle issues faced by Korean firms operating in Vietnam while expediting technology exchanges. Vietnam pledged to collaborate closely with local governments to facilitate the hiring of local workers by Korean businesses, while Korea agreed to assist its counterparts in similar endeavors.
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