Vietnam, RoK Boost Cooperation in Tourism, Economic Development

Overview of the signing ceremony.

The RoK and Vietnam continue to make strong developments, especially over the the past 30 years. RoK is currently an important strategic cooperation partner of Vietnam and the two countries are pushing to take this relationship to a new level.

In economy, the RoK ranks first in investment, second in ODA and trade.

In the tourism sector, the RoK is Vietnam's second largest supplier of tourists with strong policies such as the "New Southern Policy." The policy attaches great importance to Vietnam as a strategic partner. In recent years, the RoK has also welcomed many Vietnamese tourists to its country.

The Vietnam-Korea Business and Investment Association (VKBIA) and Yongpyung Resort Group signed a Memorandum of Understanding (MoU) on comprehensive cooperation in many fields.

Under the deal, VKBIA and Yongpyung Resort will co-organize various culture and trade promotion events between Vietnam and the RoK, expand opportunities for cooperation and investment from each other's members and partners, establish social support programs, and foster tourism, cultural exchanges and market connection between the two countries, and in Southeast and Northeast Asia at large.

At the signing event, Shin Dal - Soon, president of Yongpyung Resort Group said: "With a diverse ecosystem of winter resorts throughout key locations of Korea, we believe the signing today will create a strong resonance to develop together, not only the Vietnamese, the Korean market but together reach out to other markets in the world."

The Vietnam-Korea Business and Investment Association (VKBIA) and Yongpyung Resort Group sign a Memorandum of Understanding (MoU) in Gangwon, the Republic of Korea on January 20. Photo: VNA

Tran Hai Linh, chairman of the Vietnam-Korea Business and Investment Association (VKBIA) said: “VKBIA aims to establish the most suitable environment for connecting and exchanging information between Vietnamese and RoK businesses, entrepreneurs, experts; With associations in the RoK, Vietnam and other countries, That strengthen relationship in economy, trade, science and technology, contributing to the socio-economic development of Vietnam and the RoK."

Currently, VKBIA has branches operating in the North, Central and South of Vietnam, and in Korea. VKBIA will establish more branches in other regions and countries around the world to strengthen connections, create strong linkages to build new adaptive supply chains for Vietnamese and RoK businesses during Covid-19. Thereby, it strengthens tourism development between Vietnam and the RoK, other markets of Northeast Asia and Southeast Asia, and in the world; contribute to economic recovery and development post pandemic.

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