VN-fourth largest trade partner of RoK

VGP – Viet Nam has become the fourth largest trade partner of the Republic of Korea (RoK) since the Viet Nam-RoK Free Trade Agreement was inked in December 2015.

December 19, 2017 4:40 PM GMT+7

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The information was released on December 19 by the Korean Ministry of Trade, Industry and Energy.

The two-way trade turnover reached US$58.8 billion over the recent 11 months of 2017, a year-on-year increase of 43%.

The RoK’s exports to Viet Nam saw an increase of 48.8% against the previous year, attaining US$43.7 billion. Key export items include telecommunications equipment and electronics.

Korean commodities accounted for 22.3% of Viet Nam’s market share, only after China.

Viet Nam’s total exports to the RoK fetched US$14.8 billion, up 29.2%.

RoK companies poured US$54.5 billion in Viet Nam in the first half of the year, becoming the largest investor in the nation.

Currently, up to 5,000 RoK businesses are operating in Viet Nam.

By Thuy Dung