The bilateral trade volume reached USD 62.6 billion by the end of November, making Vietnam the RoK’s fourth-largest trade partner after China, the US and Japan.

The RoK's exports to Vietnam rose 1.9 percent on-year to USD 44.5 billion in the period, while its imports soared 22 percent to USD 18.1 billion on strong demand for displays and electronics parts produced in Korean factories in Vietnam.

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Vietnam was the RoK's eight-largest trade partner in 2014, but has become the fourth-largest partner since the bilateral trade pact went into effect in 2015 December, the ministry noted.

Meanwhile, the RoK is now the biggest foreign investor in Vietnam, with its direct investment in the first nine months of this year coming at USD 2.81 billion, a 24.5-percent rise from a year earlier.

A growing number of Korean companies, including Samsung Electronics Co., have built factories in Vietnam to manufacture advanced technology items, including semiconductors, displays and cell phones.

Source: VNA