Strengthening investment connectivity, expanding Vietnam - Republic of Korea trade cooperation

Expanding cooperation opportunities for localities and Vietnamese enterprises

On July 13, at a working session with the Korea Chamber of Commerce and Industry (KCCI), Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, highly appreciated the role of the KCCI in connecting the Republic of Korea's business community with international partners. He also emphasized that the Vietnam - Republic of Korea Comprehensive Strategic Partnership has created a favorable foundation for promoting bilateral investment and trade cooperation. The Vietnam Trade Promotion Agency looks forward to further strengthening cooperation with the KCCI in connecting Vietnamese localities, industrial parks and enterprises with investors and businesses from the Republic of Korea, thereby translating cooperation opportunities into concrete projects in the coming period.

The Vietnamese investment and trade promotion delegation in the Republic of Korea.

Representatives of Hung Yen provincial authorities introduced the province's advantages, highlighting its location within the Northern Key Economic Region, convenient connectivity with Hanoi, major industrial hubs and seaports, as well as its orientation toward developing industrial parks, logistics infrastructure and interregional transport networks. Hung Yen is currently home to around 210 foreign direct investment (FDI) projects from the Republic of Korea with total registered capital of approximately USD 2.9 billion. The province is seeking to attract more high value-added investment projects in high technology, semiconductors, electronics, mechanical engineering, digital infrastructure, green energy, modern logistics and smart urban development.

During the discussions, the Vietnam Trade Promotion Agency, Hung Yen province and the KCCI focused on enhancing information sharing on investment trends, connecting KCCI member enterprises with Vietnamese industrial parks and businesses, and coordinating investment surveys and exchanges of experience in developing green and smart industrial parks. These efforts are expected to serve as a foundation for matching the investment needs of Korean enterprises directly with available land resources, infrastructure and investment priorities of Vietnamese localities.

Overview of the working session between the Vietnamese investment and trade promotion delegation and the Korea Chamber of Commerce and Industry (KCCI).

Later the same day, representatives of Hung Yen provincial authorities and Hai Long Industrial Park held a direct working session at the headquarters of Novatech, a leading technology company specializing in the production of application magnets and smart electronic components. During the meeting, both sides exchanged information on investment potential, business opportunities and practical investment incentive policies with a view to promoting cooperation and attracting investment from the technology group into industrial parks in the province.

Representatives of Novatech also expressed their hope of receiving greater policy support and preferential treatment from Hung Yen province in general and the Thai Binh Economic Zone in particular. Oh Choon Teak, Chairman of Novatech, said he would arrange a visit to Hung Yen province and the Thai Binh Economic Zone at the earliest opportunity to accelerate the implementation of investment projects.

The Hung Yen provincial delegation poses for a commemorative photo with representatives of Novatech.

Tran Thi Tuyet Huong, Vice Chairwoman of the Hung Yen Provincial People's Council, introduces the province's investment environment.

Vu Kim Cu, Head of the Management Board of Hung Yen Economic Zone and Industrial Parks, delivers remarks at the working session with Novatech.

The delegation then held a working session with the ASEAN - Korea Centre (AKC). The Vietnamese delegation was received by Ofelia Ravelas Usigan, Deputy Secretary General of the AKC, together with representatives of the Centre. The Vietnamese side was represented by Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, along with representatives of Hung Yen provincial authorities, industrial parks and Vietnamese enterprises.

Discussions at the AKC focused on comprehensive support mechanisms for Vietnamese localities, industrial parks and enterprises within the ASEAN–Republic of Korea cooperation framework. Representatives of the Centre introduced its network, trade promotion programs and economic connectivity tools linking the Republic of Korea with ASEAN member states. They also exchanged views with the delegation on how Vietnam's cooperation demands could be effectively matched with suitable Korean partners, investors and enterprises.

Notably, representatives of Hung Yen province, industrial parks and Vietnamese enterprises directly introduced their investment potential, priority sectors and cooperation needs. On that basis, the Vietnam Trade Promotion Agency and the AKC discussed several key areas for future cooperation, including sharing information on investment and trade trends; connecting localities, industrial parks and enterprises with appropriate partners; jointly organizing fact-finding missions and business matching programs; and supporting enterprises in enhancing their capacity for green transition, digital transformation, sustainable development and participation in global supply chains.

The Vietnamese delegation works with the ASEAN - Korea Centre (AKC).

Le Quang Hoa, Vice Chairman of the Hung Yen Provincial People's Committee, delivers remarks at the working session with the ASEAN–Korea Centre (AKC).

Within the framework of the visit, the delegation also held a working session with the Embassy of Vietnam in the Republic of Korea.

At the meeting, Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, briefed participants on the objectives of the working visit. Representatives of Hung Yen province, industrial parks and Vietnamese enterprises shared their demand for attracting investment, expanding export markets and seeking business partners in the Republic of Korea.

Discussions at the Embassy focused primarily on mechanisms for follow-up coordination after the working visit. The parties explored measures to promote Hung Yen's investment environment and Vietnamese industrial parks, connect enterprises with suitable partners in the Republic of Korea, provide updated market information and continue monitoring cooperation opportunities identified during the day's meetings.

The working session was also attended by representatives of several leading Korean corporations planning to expand investment in Vietnam, including HiteJinro, the renowned soju producer; Megazone, a technology company and pioneer in data center development that previously participated in the construction of the Incheon Free Economic Zone; and Zenith Group. During the meeting, executives of these corporations expressed strong interest in Vietnam's investment environment and their desire to explore opportunities for implementing specific investment projects in the near future.

Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, delivers remarks at the working session with the Embassy of Vietnam in the Republic of Korea.

Le Quang Hoa, Vice Chairman of the Hung Yen Provincial People's Committee, delivers remarks at the working session with the Embassy of Vietnam in the Republic of Korea.

Delegates pose for a group photo at the working session.

Supporting enterprises in building stable, long-term business partnerships

On the morning of July 13, Bok Gyu-dok, Head of the Korea Desk and Deputy Director of KOTRA, held a working session with the Korea Importers Association (KOIMA). The Vietnamese side included representatives of Hung Yen province, the Vietnam Trade Promotion Agency and Vietnamese enterprises, while the Korean side was represented by Kwon Ki-chang, Vice Chairman of KOIMA, together with representatives of the association's secretariat.

The meeting focused on import trends in the Korean market, product groups with strong potential for Vietnam and ways to help Vietnamese enterprises gain access to Korean importers and distribution networks. KOIMA representatives shared valuable assessments of market demand and the prospects for expanding bilateral trade, while Vietnamese enterprises introduced their production capacity, products and demand for import partners.

A key issue highlighted by both sides was the need to shift from general information exchange to demand-driven business matching. Under this approach, information on import demand, technical standards, quality requirements and market access conditions in the Republic of Korea will be updated on a regular basis, enabling Vietnamese enterprises to identify the right products and suitable business partners. Leveraging KOIMA's membership network and the coordinating role of the Vietnam Trade Promotion Agency, with support from the Korea Desk, the two sides discussed the possibility of organizing sector-specific trade promotion programs, facilitating direct connections between Vietnamese exporters and Korean importers, and helping enterprises establish stable, long-term business relationships.

The Vietnamese trade promotion delegation poses for a commemorative photo with leaders and representatives of the Korea Importers Association (KOIMA).

The series of working sessions held on July 13 reflected a coordinated approach to investment and trade promotion, with each partner contributing its strengths in different areas. Through these exchanges, Hung Yen province, industrial parks and Vietnamese enterprises gained first-hand information on investment demand, import requirements and market standards in the Republic of Korea, while also presenting their capabilities and specific cooperation needs.

The connections established during the working visit will provide a foundation for the Vietnam Trade Promotion Agency and its partners to continue implementing trade promotion activities, investment surveys and business matching programs in the time ahead.