Korea Federation of SMEs to Expand Support for SME Investment Cooperation and Technology Exchange with Vietnam

Kim Ki-moon Highlights R&D Innovation and
Korea-Vietnam SME Cooperation at Science and Technology Seminar

The Korea Federation of SMEs announced on August 12 that it attended the "Korea-Vietnam Science and Technology Cooperation Seminar" held at Lotte Hotel. This seminar was organized by the Ministry of Science and ICT of Korea, the Ministry of Science and Technology of Vietnam, and the Embassy of Vietnam in Korea, coinciding with the visit of To Lam, General Secretary of the Communist Party of Vietnam, to Korea. The event aimed to share experiences in research and development innovation and to explore ways to strengthen cooperation between Korea and Vietnam.

On the Korean side, Kim Ki-moon, Chairman of the Korea Federation of SMEs, Bae Kyung-hoon, Minister of Science and ICT, Choi Yanghee, Vice Chair of the National Science and Technology Advisory Council, and Choi Youngsam, Ambassador of Korea to Vietnam, were in attendance. From Vietnam, key officials including To Lam, General Secretary of the Communist Party, Nguyen Manh Hung, Minister of Science and Technology, and Vu Ho, Ambassador of Vietnam to Korea, participated.

At the Korea-Vietnam summit held the previous day, the two governments agreed to further strengthen their efforts to achieve a trade volume target of $150 billion by 2030, marking the 10th anniversary of the Korea-Vietnam FTA coming into effect.

Since 2013, the Korea Federation of SMEs has worked to expand cooperation with the Vietnamese government, including technology transfer and joint ventures involving Korean SMEs. In November last year, the Federation hosted the "Korea-Vietnam Investment Cooperation Forum" at Hoa Lac National Innovation Center under the theme of "Fostering Global Small Giants." The forum was attended by 350 Vietnamese businesspeople and 150 Korean SME representatives, who discussed various ways to cooperate on innovative technologies and manufacturing partnerships.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "Currently, more than 10,000 Korean companies are operating in Vietnam, and over 90% of them are SMEs. Since both countries share a similar industrial structure centered on manufacturing, there is significant potential for cooperation in manufacturing innovation areas such as smart factories. The Federation will serve as a bridge to support Korean SMEs wishing to enter the Vietnamese market, including assistance with industrial complex entry, as well as to strengthen investment cooperation and technology exchange between Korean and Vietnamese SMEs."

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