VGP - The Korea Trade-Investment Promotion Agency will move its regional headquarters of Southeast Asia and Oceania from Singapore to Ha Noi to support Korean companies doing businesses in the fast-growing market.
“The regional headquarters will be moved to Ha Noi where Korean companies are increasingly making a presence. Two new trade centers will also be set up in Ahmedabad, India and Da Nang, Viet Nam,” Kwon Pyung-oh, CEO of KOTRA, told reporters.
According to KOTRA, bilateral trade between Viet Nam and the Republic of Korea (RoK) reached US$63.9 billion in 2017. Viet Nam is now the fourth largest trading partner of the RoK while the country is Viet Nam's second-largest.
In addition, the agency plans to open new business centers in Ahmedabad, an industrial city in western India, and in Da Nang, a commercial hub in Viet Nam’s central region.
KOTRA will expand business centers in promising markets to keep up with the changing trade environment, said CEO Kwon Pyung-oh.
Currently, the agency is operating 10 local head offices and 127 business centers in 86 countries around the world.
The two countries are working to raise two-way trade to US$100 billion by 2020. The RoK ranked first among 125 nations and territories pouring capital into Viet Nam in 2017, with total registered capital hitting US$57.7 billion.
According to KOTRA’s survey of 1,734 people in Southeast Asian nations released Wednesday, 93.8 percent of respondents said they were anticipating Korea’s latest policies toward Southeast Asia.
By nation, the Philippines (96.3%) had the greatest anticipation, followed by Viet Nam (94.6S%) and Indonesia (94.5%). The industries they hope to partner with are in the areas of computers, electronics, communications, transportation and energy, according to the survey.
By Vien Nhu