Vietnam emerges as a key destination for South Korean investment

South Korea is now the leading foreign investor in Vietnam, with bilateral trade between the two countries reaching over $86 billion in 2022 and expected to grow even more in the coming years.

According to officials, two-way trade between the two countries is predicted to reach $100 billion this year and $150 billion by 2030. 

South Korean investment in Vietnam has reached a cumulative $80 billion between 1988 and 2022, and this trend is expected to continue as Vietnam develops into a major manufacturing hub in Southeast Asia.

Leading South Korean companies such as Samsung, LG, Hyundai Motors, and Pohang Iron and Steel have already invested in Vietnam, attracted by its open economy and welcoming approach to foreign investment. Despite some challenges such as bureaucratic red tape and corruption, Vietnam's economy continues to grow rapidly.

Source: Asia Sentinel