Hanoi: South Korean companies have signed 14 export deals and memorandums of understanding in Vietnam, as the two countries aim to bolster cooperation across several industries.
According to Yonhap News Agency, the Korea Trade-Investment Promotion Agency (KOTRA) announced that these agreements were finalized during a two-day Korea-Vietnam economic cooperation event in Hanoi, which saw participation from 166 companies from both nations.
The contracts include a $36,000 agreement to export health drinks to Vietnam and a seasoned dried seaweed export deal valued at $50,000. These efforts are part of a broader strategy to enhance bilateral trade between South Korea and Vietnam.
During a recent summit in Seoul, South Korean President Lee Jae Myung and Vietnam's top leader To Lam committed to increasing their trade volume to $150 billion by 2030. As of 2024, the bilateral trade volume was recorded at $86.7 billion, with Vietnam being South Korea's third-largest trading partner and host to approximately 10,000 Korean companies.