RoK-Vietnam bilateral trade up 7 percent in 11 months
Two-way trade between the Republic of Korea (RoK) and Vietnam increased 7 percent in the first 11 months of this year compared with a year ago, the Korean Ministry of Trade, Industry and Energy announced on December 19.
At a supermarket in the Republic of Korea (Source: AFP/VNA)
Seoul (VNA) – Two-way trade between the Republic of Korea (RoK) and Vietnamincreased 7 percent in the first 11 months of this year compared with a yearago, the Korean Ministry of Trade, Industry and Energy announced on December 19.
The bilateral trade volume reached 62.6 billion USD by theend of November, making Vietnam the RoK’s fourth-largest trade partner afterChina, the US and Japan.
The RoK'sexports to Vietnam rose 1.9 percent on-year to 44.5 billion USD in the period,while its imports soared 22 percent to 18.1 billion USD on strong demand fordisplays and electronics parts produced in Korean factories in Vietnam.
Vietnam was the RoK's eight-largest trade partner in 2014,but has become the fourth-largest partner since the bilateral trade pact wentinto effect in 2015 December, the ministry noted.
Meanwhile, the RoK is now the biggest foreign investor inVietnam, with its direct investment in the first nine months of this yearcoming at 2.81 billion USD, a 24.5-percent rise from a year earlier.
A growing number of Korean companies, including SamsungElectronics Co., have built factories in Vietnam to manufacture advancedtechnology items, including semiconductors, displays and cell phones.-VNA
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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At a supermarket in the Republic of Korea (Source: AFP/VNA) 
