Seoul: Seoul’s central bank announced on Monday that it has signed a renewed memorandum of understanding (MOU) with its Vietnamese counterpart, the State Bank of Vietnam, to bolster their bilateral partnership.
According to Yonhap News Agency, the updated MOU, which was initially signed in 2004, is designed to deepen cooperation in several areas between the two central banks. Key areas of focus include monetary policy and currency issuance, which are essential for fostering economic collaboration between the two nations.
In a bid to promote further exchanges, the two banks have also agreed to conduct working-level meetings alongside existing workshops and seminars. The Bank of Korea (BOK) emphasized the significance of the renewed MOU, stating, “This is meaningful as it lays the foundation to strengthen cooperation between the two central banks.” The BOK expressed hope that this agreement will contribute to reinforcing the strategic partnership between South Korea and Vietnam.