President Nguyen Xuan Phuc Hosts Korea-Vietnam Economic and Cultural Association

President Nguyen Xuan Phuc and Chairman of the Korea-Vietnam Economic and Cultural Association Kim Kil-soo. Photo: VNA

President Nguyen Xuan Phuc on July 23 received the Korea-Vietnam Economic and Cultural Association (including representatives of 30 Korean associations). The delegation is on a working visit to Vietnam, led by Kim Kil-soo, chairman of the Korea-Vietnam Economic and Cultural Association.

At the meeting, President Nguyen Xuan Phuc welcomed the Association to visit and work in Vietnam. They held many important activities on the 30th anniversary of the establishment of diplomatic relations between the two countries.

Kim Kil-soo, chairman of the Association said that he has organized a number of activities in Ho Chi Minh City and continues to have events in Hanoi, including the Vietnam-Korea Cooperation Forum (VIKO30).

He said many leading Korean enterprises are interested in investing in Vietnam. They want to invest in the projects in the Red River area, hoping to develop this area like the Han River of Korea.

Representatives of a number of Korean associations attending the meeting also hoped that the two countries would strengthen cooperation in waste treatment, wastewater, labor, employment, and exchanges in sports.

President Nguyen Xuan Phuc appreciated the Korea-Vietnam Economic and Cultural Association and its member associations for their interest in investing in many fields of Vietnam. He suggested that businesses need to use the most modern technologies and protect the environment.

The President said that right after taking office, South Korean President Yoon Seok-yeol had a phone call with him (March 23, 2022) and then had a conversation with the General Secretary of the Communist Party of Vietnam Nguyen Phu Trong (June 8, 2022).

Leaders of the two sides agreed to upgrade the two countries' relations to a new height, becoming a comprehensive strategic partnership, opening a new period of cooperation for the next 30 years.

Regarding cooperation, the President said that the economy has always been a bright spot with outstanding results.

South Korea has always been the leading investor in Vietnam with nearly US$80 billion. Currently, trade turnover between the two countries also reaches nearly US$80 billion. The two countries also cooperate well in ODA, labor and tourism.

Overview of the meeting. Photo: VNA

The leaders of the two countries hope that next year, bilateral trade turnover will reach US$100 billion, and Korea will continue to be the leading investor in Vietnam. The President said that the role of businesses is important.

He said that in the current achievements of the two countries, there is an important contribution of the Korea-Vietnam Economic and Cultural Association with many activities to foster cooperation.

He asked the Association to coordinate with the Vietnamese Embassy in Korea, Vietnamese agencies and localities to organize activities to celebrate the 30th anniversary of the two countries' diplomatic relations.

President Nguyen Xuan Phuc suggested the Association to coordinate with the Vietnamese Ambassador to South Korea to support and protect Vietnamese people living, working and studying in host country.

Associations and organizations of culture, art, and sports of Korea should also strengthen cooperation with Vietnamese authorities to deepen people-to-people exchanges and cooperation between the two countries.

The Association appreciated the President for his positive evaluations. The members of the delegation expressed their wish that the Vietnamese Party and State would pay attention and create more favorable conditions for long-term investment in Vietnam. They want to deepen the relationship between Vietnam and Korea, bringing benefits to the people of the two countries.

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