The Hanoitimes - The establishment of the Vietnamese Business Club in South Korea (VBCK) aims to creating an environment of cooperation and information exchange among firms, boosting their collaboration with associations, public agencies and organizations in South Korea, Vietnam and other countries.
Hundreds of Vietnamese and South Korean businessmen have attended the opening ceremony of the Vietnamese Business Club in South Korea (VBCK).
The club is an organization of enterprises, product-service suppliers and those want to do business to mobilise individuals and community’s capacity for mutual benefits, according to VBCK Chairman Tran Hai Linh.
S. Korea-based Vietnamese business club to strengthen business cooperation.
The establishment of the club aims to creating an environment of cooperation and information exchange among firms, boosting their collaboration with associations, public agencies and organizations in South Korea, Vietnam and other countries, Linh added.
As a result, win-win ties in the fields of economy, trade, science-technology, and culture-education will be enhanced, he added.
The club functions as a representative of Vietnamese businesses and entrepreneurs in South Korea, protecting their legal rights and interests, and increasing trade-investment promotion, technology transfer and culture-education cooperation.
Vietnamese Ambassador to South Korea Nguyen Vu Tu expressed his hope that VBCK will become a forum for Vietnamese businessmen in South Korea to connect and support each other in seizing opportunities and developing their companies.
South Korea and Vietnam agreed to raise bilateral relations to that of strategic partners, and to increase trade to US$100 billion by 2020.
The agreement was included in the South Korea - Vietnam joint declaration announced following President Moon Jae-in’s summit with Vietnamese President Tran Dai Quang in Hanoi.
As part of the plans for increasing trade, the two leaders agreed to seek Regional Comprehensive Economic Partnership negotiations this year and cooperate in facilitating free trade in the region. In 2017, trade between the two countries came to just under US$64 billion.
The two sides also signed six memorandums of understanding for increasing trade, and industrial cooperation. Areas the two countries agreed to seek further cooperation include materials and components manufacturing, transport and infrastructure, construction and urban development. The memorandums signed Friday also include one on drawing up plans for boosting bilateral trade.