|Việt Nam is the seventh country to have three KOTRA offices. — Photo nineoclock.ro|Viet Nam News
HÀ NỘI — South Korea’s Trade-Investment Promotion Agency (KOTRA) on Monday opened its third representative office in Đà Nẵng.
The move aims to support Korean firms in line with Seoul’s New Southern Policy of strengthening ties with Southeast Asian countries.
The trade agency, which has two offices, one in Hà Nội in the north and one in HCM City in the south, announced that the Đà Nẵng branch will help 50 Korean companies operating in central Việt Nam, including about 20 companies in Đà Nẵng.
Việt Nam is the seventh country to have three KOTRA offices.
According to KOTRA, the Government of Việt Nam has implemented various projects for the central region, seeking to expand infrastructure such as roads and ports.
Đà Nẵng also stands out from other areas of Việt Nam thanks to its relatively low labour and factory costs. It also has advantages in many different industries, from technology and automotive parts to tourism, KOTRA said, adding that such factors can support Korean companies as well.
KOTRA President Kwon Pyung-oh said South Korea hopes to strengthen ties with Việt Nam, its third-largest trading partner, through economic cooperation in the central region.
Trade turnover between the two countries reached US$1.1 trillion in 2018. — VNS