Participants noted that since Vietnam and the RoK set up their diplomatic relations, their partnership has grown fast in all fields, especially economy. The RoK is currently Vietnam's biggest investor with total investment of USD 81 billion.

Two-way trade rose over 160 times in 30 years to USD 81.1 billion in 2022, and the two countries have become each other’s third largest trade partner.

About 250 Korean businesses operating in the Central region have shown high level of satisfaction about the local business environment. (Photo for illustration)

Although the central region of Vietnam has received less than 10% of the RoK’s total investment in Vietnam, it has drawn increasing attention from Korean firms thanks to the Government’s policies to ensure equal development among regions and investment attraction efforts of regional localities.

About 250 Korean businesses operating in the region have shown high level of satisfaction about the local business environment.

Over the years, the firms have made positive contribution to the local community by generating jobs as well as charity activities. They have helped improve the infrastructure system and health care services, and provided financial support to disadvantaged people in the society.

Kang Boo Sung, RoK Consul General in Da Nang, said that the forum aims to seek measures to ensure that the regional localities and Korean firms can enjoy benefits during the businesses’ operations.

Le Tri Thanh, Chairman of the People’s Committee of Quang Nam province, said that CRS activities of RoK companies have not only contributed to the sustainable socio-economic development of the locality but also improved the living conditions for workers in particular and the local community in general.

He noted that RoK firms that are operating in Quang Nam have conducted various CRS activities in the locality. The Hyosun Quang Nam JSC has poured nearly VND 5.8 billion into the activities since 2020, while Panko Tam Thang has spent over VND 4 billion since 2017, he noted.

Source: VNA