The official visit to Vietnam by the President of the Republic of Korea (RoK) Park Geun Hye from September 7-11, 2013 drew special attention from the domestic and international public because Vietnam was the first country in Southeast Asia and the third one in the world, after the US and China, Park Geun Hye visited as the RoK President and the contents of cooperation approved by the two countries’ leaders during this visit. One of them is that the two sides set a target of two-way trade turnover to reach 70 billion dollars by 2020.
Vietnam and RoK established diplomatic ties in 1992. Over 20 years, the relationship and cooperation between the two nations has developed strongly in economics and trade, particularly since the two countries lifted relations to a strategic cooperative partnership in 2009. The volume of bilateral trade of the two sides increased 44 times, investment raised 250 times, human resource exchange grew by 80 times and Vietnam was the largest RoK ODA recipient.
In economic cooperation, RoK is now one of the four largest investors in Vietnam and Vietnam has become the third foreign largest investment market of RoK, after the US and China. In 2012, the two-way trade turnover reached 21 billion dollars and South Korean businesses pledged to invest in Vietnam a total capital of 26 billion dollars.
| « I selected Vietnam as the first nation of my visits to ASEAN because RoK always pays much attention to the friendly relations with Vietnam and is determined to further develop this cooperation relationship. President Park Geun Hye
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In economic cooperation, RoK is now one of the four largest investors in Vietnam and Vietnam has become the third foreign largest investment market of RoK, after the US and China. In 2012, the two-way trade turnover reached 21 billion dollars and South Korean businesses pledged to invest in Vietnam a total capital of 26 billion dollars.
On September 9, 2013, the official welcoming ceremony to South Korean President Park Geun Hye is held at the Presidential Palace.
In the photo: Presenting flowers to President Park Geun Hye. Photo: Nguyen Khang – VNA
State President Truong Tan Sang and his South Korean counterpart Park Geun Hye review the honour guard.
Photo: Nguyen Khang – VNA
State President Truong Tan Sang receives his South Korean counterpart Park Geun Hye at the Presidential Palace.
Photo: Nguyen Khang – VNA
The talks between State President Truong Tan Sang and President Park Geun Hye. Photo: Nguyen Khang – VNA
The two presidents witness the signing ceremony of a memorandum of understanding between
the Vietnamese Ministry of Planning and Investment and the South Korean Ministry of Foreign Affairs. Photo: Nguyen Khang – VNA
State President Truong Tan Sang and President Park Geun Hye at the press conference after their talks.
Photo: Nguyen Khang – VNA
State President Truong Tan Sang and President Park Geun Hye visit the Presidential Palace Historical Site in the Presidential Palace.
Photo: Nguyen Khang – VNA
The two presidents visit the place where President Ho Chi Minh lived and worked at the Presidential Palace Historical Site.
Photo: Nguyen Khang – VNA
Party General Secretary Nguyen Phu Trong receives President Park Geun Hye. Photo: Tri Dung – VNA
Prime Minister Nguyen Tan Dung meets with President Park Geun Hye. Photo: Duc Tam – VNA
National Assembly Chairman Nguyen Sinh Hung receives President Park Geun Hye. Photo: Nguyen Dan – VNA
In economic cooperation, RoK is now one of the four largest investors in Vietnam and Vietnam has become the third foreign largest investment market of RoK, after the US and China. In 2012, the two-way trade turnover reached 21 billion dollars and South Korean businesses pledged to invest in Vietnam a total capital of 26 billion dollars.
During this visit, President Park Geun Hye had a busy schedule with the aim of developing the strategic cooperative partnership and expanding cooperation at regional and international forums.
During this visit, President Park Geun Hye had a busy schedule with the aim of developing the strategic cooperative partnership and expanding cooperation at regional and international forums.
During her stay in Vietnam, President Park Geun Hye lays a wreath at the President Ho Chi Minh Mausoleum. Photo: Nguyen Dan – VNA
President Park Geun Hye and Vice State President Nguyen Thi Doan attend a fashion show of the two countries’ traditional costumes.
Photo: Tran Thanh Giang – VNP
President Park Geun Hye wears Hanbok, the South Korean traditional costume. Photo: Tran Thanh Giang-VNP
President Park Geun Hye attends a banquet held by the Vietnamese and South Korean businesses to welcome her visit to Vietnam.
Photo: Nguyen Dan – VNA
President Park Geun Hye visits Ho Chi Minh City. In the photo: The welcoming ceremony
to the South Korean President at the Tan Son Nhat International Airport. Photo: Thanh Vu – VNA
Secretary of Ho Chi Minh City Committee’s Party Le Thanh Hai welcomes President Park Geun Hye. Photo: Thanh Vu – VNA
President Park Geun Hye visit Hansae Vietnam Co.,Ltd at the Tay Bac Cu Chi Industrial Zone, Cu Chi District, Ho Chi Minh City.
Photo: Thanh Vu - VNA
During the meetings and talks, the two sides agreed to further strengthen cooperation in important fields such as national defence-security, economics, trade, finance, science, high technology, agriculture, environment, infrastructure development, energy and socio-culture. Both sides also agreed to increase the two-way trade turnover to 70 billion dollars in 2020, accelerate negotiations for the signing of the Vietnam- Republic of Korea (RoK) Free Trade Agreement (VKFTA) at a high and comprehensive level in 2014, establish a representative office of the RoK Financial Supervisory Commission in Vietnam; research to develop a nuclear power plant in Vietnam and establish the Vietnam – Korea Institute of Sciences and Technology (V-KIST).
Vietnam affirmed that the country would actively improve investment and economic environment and create favourable conditions for South Korean businesses to expand investment in Vietnam.
Relating international issues of mutual concern, the leaders exchanged views on issues such as the non-nuclearization on the Korean Peninsula and maintaining peace on the peninsula, in East Asia and the world. The two sides stressed the importance of maintaining peace, stability, maritime security and safety at sea, and held that all disputes at sea must be settled by peaceful measures and in line with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).
The official visit to Vietnam by President Park Geun Hye not only reinforced and further tightened the strategic cooperative partnership of the two countries, but also enhanced the partnership to a new level for the common prosperity of the two nations.
Vietnam affirmed that the country would actively improve investment and economic environment and create favourable conditions for South Korean businesses to expand investment in Vietnam.
Relating international issues of mutual concern, the leaders exchanged views on issues such as the non-nuclearization on the Korean Peninsula and maintaining peace on the peninsula, in East Asia and the world. The two sides stressed the importance of maintaining peace, stability, maritime security and safety at sea, and held that all disputes at sea must be settled by peaceful measures and in line with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).
The official visit to Vietnam by President Park Geun Hye not only reinforced and further tightened the strategic cooperative partnership of the two countries, but also enhanced the partnership to a new level for the common prosperity of the two nations.
Story: VNP - Photos: VNA & VNP
