Gamhakdo Jungjingong Chairman Meets Vietnamese Standing Secretary to Discuss 'SME Cooperation Plans'

Meeting with Vietnamese Central Party Standing Secretary Visiting Korea for the 30th Anniversary of Korea-Vietnam Diplomatic Relations
"Expecting Active Exchange of SMEs in Finance Sector Amid 4th Industrial Revolution"

On the 3rd, Chairman Kim Hak-do (right) and Bo Van Thuong, Standing Secretary of Vietnam, are taking a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (hereinafter referred to as SBC) announced that Chairman Kim Hak-do met with Vo Van Thuong, Standing Secretary of the Central Committee of the Communist Party of Vietnam, at the Lotte Hotel in Seoul on the 3rd to discuss cooperation plans between small and medium-sized enterprises (SMEs) of the two countries.

Chairman Kim recalled his experience as the chief representative of Korea during the 2015 Korea-Vietnam FTA negotiations and emphasized that the trade volume between the two countries more than doubled in five years, and the achievement of the $100 billion target was largely due to cooperation between SMEs of both countries.

Standing Secretary Vo Van Thuong visited Korea for the first time as part of a high-level delegation marking the 30th anniversary of Korea-Vietnam diplomatic relations and expressed hope that the close cooperative relationship between the two countries would continue to expand through the elevation to a comprehensive strategic partnership.

During the meeting, key agenda items included ways to revitalize exchanges between SMEs of the two countries by strengthening cooperation in the Fourth Industrial Revolution sectors such as bio, IT, renewable energy, and finance. Vietnam has the fourth largest two-wheeler market in the world. SBC is currently conducting a project to convert personal mobility vehicles such as motorcycles to electric vehicles in cooperation with Vietnam to jointly address climate change and carbon neutrality issues. The technological exchange between SMEs of the two countries will gradually expand to help Vietnam achieve its '2050 Net Zero' goal.

Additionally, Chairman Kim announced plans to strengthen cooperation in the financial sector centered on SBC’s Vietnam base. SBC provides comprehensive support for various projects including policy fund loans, export marketing, and workforce training for SMEs. On the 28th of last month, SBC signed a business agreement with Shinhan Bank, the top foreign bank in Vietnam, to support the overseas expansion of domestic SMEs.

At the conclusion of the meeting, a request was also made to extend the visa exemption period from the current 15 days to a level similar to neighboring Southeast Asian countries to expand human exchanges between the two countries.

This content was produced with the assistance of AI translation services.