Seoul: Korea and Vietnam held a significant meeting to discuss boosting bilateral trade and nuclear energy cooperation. Kim Jong-chul, Director General of International Trade Relations at the Ministry of Trade, Industry, and Energy of Korea, and Do Quoc Hung, Director General of the Department of Asia-Africa Market at the Ministry of Industry and Trade of Vietnam, led the fourth joint working group meeting to explore measures to increase trade volume between the two countries.
According to Bahrain News Agency, the meeting explored strategies to raise bilateral trade volume to US$150 billion by 2030, a target set during a recent summit in Seoul between President Lee Jae Myung of Korea and T´ LSm, general secretary of the Communist Party of Vietnam. Discussions also focused on the implementation of a memorandum of understanding (MOU) signed between Korea Electric Power Corp. and Vietnamese energy firm Petrovietnam to enhance Vietnam’s nuclear power industry workforce.
Additionally, the trade ministry held its first director general-level meeting with Vietnam’s finance ministry to address pending issues. These included the refund of value-added tax for Korean textile companies operating in Vietnam and the continuation of business incentives for HD Korea Shipbuilding and Offshore Engineering Co. following its acquisition of Doosan Vina, a Vietnamese unit of Doosan Enerbility Co.