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Vietnam vows to boost ties with South Korea.

Vietnam is an attractive investment destination for South Korean businesses, with the production of electronics, pharmacy, cosmetics, and leather.

South Korea is the second biggest ODA supplier and largest investor in Vietnam with prominent names including Samsung, Shinhan, LG, Lotte, and Hyundai.

The demand for returning home among overseas Vietnamese in those countries and territories is very large, according to the Vietnamese Ministry of Foreign Affairs.

The two countries would continue to bolster cooperation in a multilateral framework, especially in fully implementing the Regional Comprehensive Economic Partnership (RCEP), set to take effect on January 1, 2022.

KTO’s webinar is aimed at preparing for the restart of international flights and South Korea tourism promotion in Vietnam.

For both countries, the post-Covid economic partnership is the best way to minimize exposure to future trade disruptions and enhance supply-chain resilience.

This will be a symbol of Vietnam - South Korea economic cooperation, towards celebrating the 30th anniversary of the establishment of diplomatic relations between the two countries in 2022.

This is Vietnam’s first comprehensive bilateral social insurance agreement, which had been negotiated by the two governments since 2015.

South Korea has continued providing financial assistance to Vietnam, focusing on five key sectors namely digital transformation, tertiary education, building the South Korea-Mekong community, smart city, and transport.

South Korean companies doing business in Vietnam are providing jobs to about one million domestic workers.

The visits will enable Vietnam and its partners to strengthen economic and multisectoral relations after two years impacted by Covid-19.

The signing ceremony between the two sides was held online on November 26.

The tourism institutes of both sides will tighten cooperation to promote travel between the two countries.

Vietnam emphasized the need to resume negotiations as soon as possible.

Three donors have special relationships with Vietnam as they are either long-lasting friends or strategic investors.