The Korean Trade and Investment Promotion Agency (KOTRA) said it has opened its third office in the central city of Da Nang, following the first two in Hanoi and Ho Chi Minh City.
Korean tourists in Da Nang. The central region has been a destination for FDI in tourism as a large number of Korean tourists travel to central cities and provinces, particularly Da Nang. (Illustrative photo: baodautu.vn)
Hanoi (VNA) - The Korean Trade and InvestmentPromotion Agency (KOTRA) said it has opened its third office in the centralcity of Da Nang, following the first two in Hanoi and Ho Chi Minh City.
The new branch is tasked to support 50 companies from theRepublic of Korea (RoK) in central Vietnam, of which 20 are operating in DaNang.
According to KOTRA, the Vietnamese Government hasimplemented various projects to improve infrastructure, like the constructionof roads and ports, in the central region. Da Nang stands out from other areasin Vietnam thanks to its relatively low warehouse and labour costs, and enjoysadvantages in a number of sectors including technology, auto spare parts, andtourism. These factors constitute a series of benefits for Korean firms.
KOTRA President Kwon Pyung-oh said the RoK expects tofortify relations with Vietnam, its third biggest trading partner, via economiccooperation in the central region.
Big Korean corporations have headed for northern Vietnam,while the south has been favoured by the RoK’s small- and medium-sizedenterprises. Meanwhile, the central region has been a destination for FDI intourism as a large number of Korean tourists travel to central cities andprovinces, particularly Da Nang.
Last year, the RoK’s registered FDI in Vietnam reached arecord high of more than 9 billion USD, landing in major projects inmanufacturing, real estate, energy, distribution and M&A.-VNA
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Korean tourists in Da Nang. The central region has been a destination for FDI in tourism as a large number of Korean tourists travel to central cities and provinces, particularly Da Nang. (Illustrative photo: baodautu.vn) 
