Opening the event, Ambassador Pham Huu Chi stated that the establishment of Viet Nam-RoK diplomatic relations in 1992 opened a new chapter in a relationship that started nearly 900 years ago when some princes of the Ly dynasty in Vietnam came to settle in the Korean Peninsula.
Looking back important landmarks in bilateral ties over the past 25 years, the ambassador highlighted the establishment of bilateral comprehensive partnership in 2001 and comprehensive strategic partnership in 2009.
Chi noted that the RoK’s direct investment in Viet Nam has tripled to US$50 billion from 2012, making it the largest foreign investor in Viet Nam, while two-way trade doubled to hit US$42.8 billion.
He expressed belief that with determination from both sides, the Viet Nam-RoK comprehensive strategic partnership will grow.
Viet Nam will do its utmost to develop the partnership with the RoK, he declared, thanking the government and people of the RoK for their endeavours in boosting bilateral ties and supporting the Vietnamese community in the country.
In the past 25 years, Korean investment in Viet Nam has mainly focused on labor. In recent years, leading Korean technological groups including Samsung, LG, and Hyosung have increased investment in high technology in Viet Nam.
Since 2008, Samsung invested in two factories in Thai Nguyen and Bac Ninh province that produce 150 million mobile phones each year. Samsung, LG, and other global economic groups have enabled Vietnamese enterprises to participate in the accessories and spare part supply chain.
Economic cooperation between Vietnam and the Republic of Korea has developed rapidly over the past 25 years. The RoK is the largest investor out of 112 countries and territories investing in Viet Nam.
Last year, it exported much more to Viet Nam than to Japan. Processing, manufacturing, real estate, and construction are among the 19 areas where the RoK is investing in Viet Nam.
By Vien Nhu
