In the first half of 2010 Vietnam imported 4.2 billion U.S. dollars from South Korea

South Korea’s exports to Vietnam have increased significantly in recent years. In 2007, Vietnam officially became a member of the World Trade Organization (WTO). In the same year, South Korea and ASEAN signed a bilateral trade agreement to provide Vietnam and South Korea to develop bilateral trade niches. In 2008, relations between the two countries were particularly developed. The watershed.

According to statistics from Vietnam Customs, during the period from 2005 to 2007, bilateral trade between Vietnam and Korea was 4.2 billion U.S. dollars, 4.7 billion U.S. dollars, and 6.6 billion U.S. dollars, and it was 9.9 billion U.S. dollars in 2008 and 9 billion U.S. dollars in 2009 (recession 8.5%). South Korea has surpassed Vietnam for a long time. In 2009, Vietnam’s trade surplus with Vietnam was 4.8 billion U.S. dollars.

In the first half of 2010, Vietnam imported 4.2 billion U.S. dollars from South Korea (41.5% year-on-year growth in 2009), and fabric imported 525.50 million U.S. dollars (up 21% year-on-year in 2009, accounting for approximately 12.5 million U.S. imports from South Korea during that period). %); steel imports 427 million US dollars (growing 56.9%, accounting for approximately 10.2% of Vietnam's total imports from South Korea); machinery and equipment and spare parts imports 417.57 million US dollars (a growth of 12.5%, accounting for Vietnam Total import from South Korea is 10%).

During the period, the most significant growth products imported from South Korea included imports of milk powder and dairy products worth US$4.7 million (a year-on-year growth of 198.3% compared with 2009, which accounted for approximately 0.1% of South Korea’s total imports during Vietnam); electronic products, computers and spare parts (2.7 billion, 9.6 million US dollars, growth of 184% (about 6.7%); common metal products imports 19.97 million US dollars, growing 149.3%, accounting for about 0.5%); petrochemical products 33 million US dollars (growing 143.6%, accounting for about Vietnam 0.8% of South Korea's total imports); import of ordinary metals was 177 million US dollars (a growth of 127% or 4.5%).

According to statistics from the Ministry of Planning and Investment of Vietnam, by the end of April 2010, South Korea had become Vietnam's largest investor, with a total of 2,495 investment plans, with a total registered capital of US$2,190,900,000.

After Vietnam's implementation of the Japan Economic Cooperation Agreement (VJEPA) in early October 2009, Vietnam began preparing for negotiations with South Korea. South Korean Foreign Minister Kim Jong-hoon led South Korean diplomats and business officials to visit Vietnam at the end of March 2010. He also negotiated with Vietnam's Minister of Commerce and Industry Vu Huy Hoang on the signing of a bilateral trade agreement between South Korea and Vietnam, and implemented the Korean President’s visit to Vietnam in October 2009. The two governments announced the strengthening of economic and trade cooperation with each other, increased the development of the bilateral economic and trade relations, and assisted Vietnam in gradually reducing its export deficit with South Korea and other issues. The two sides also coordinated the establishment of relevant research working groups.