KOTRA opens third branch in Da Nang

VGP – The Korea Trade-Investment Promotion Agency (KOTRA) on January 21 opened the third branch in Da Nang, after Ha Noi and HCMC.

January 21, 2019 4:11 PM GMT+7

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The third office targets to support Korean firms in line with Seoul’s New Southern Policy of strengthening ties with Southeast Asian countries.

The trade agency, which has two offices, one in Ha Noi in the north and one in HCM City in the south, announced that the Da Nang branch will support 50 Korean companies operating in central Viet Nam, including about 20 ones in Da Nang.

Viet Nam is the seventh country which has over three KOTRA’s offices.

According to KOTRA, the Government of Viet Nam has implemented various projects for the central region, seeking to expand infrastructure such as roads and ports.

According to KOTRA, Da Nang also stands out among localities in Viet Nam thanks to its relatively low labor and factory costs. It also has advantages in many different industries, from technology and automotive parts to tourism.

Trade turnover between the two countries reached US$1.1 trillion in 2018./.

By Kim Anh