Member of the Vietnam Fatherland Front Central Committee and VIBAK Chairman Trần Hải Linh speaks at the event.— Photo vov.vn

SEOUL — The Vietnam Business Association in the Republic of Korea (VIBAK) held a seminar in the southern city of Ansan on Sunday to discuss start-ups and business registration.
Speaking at the event, member of the Vietnam Fatherland Front Central Committee and VIBAK Chairman Trần Hải Linh said the event aims to support VIBAK members in business and trade in the host country.
He added that VIBAK will work with the Business Association of Overseas Vietnamese (BAOOV) to hold the first worldwide conference of Vietnamese entrepreneurs in the RoK, which aims to connect them to help contribute to Việt Nam’s economic development.
Vietnamese Ambassador to the RoK, Nguyễn Vũ Tú, expressed his belief that following the event, more opportunities will open up for Vietnamese firms in the RoK.
Founded on July 7, 2018, VIBAK hopes to create an eco-system to facilitate mutual growth among members and set up new companies and restaurants.
Việt Nam – RoK ties are growing in a wide range of areas, with the two countries celebrating the 10th anniversary of their bilateral strategic cooperative partnership this year.
The RoK is the largest investor in Việt Nam with more than 7,400 projects worth US$62.5 billion as of late 2018, creating some 70,000 jobs and contributing nearly 30 per cent of Việt Nam’s total exports.
The country is also the second largest trade partner of Việt Nam, behind China, with two-way trade reaching US$65.7 billion last year and expected to hit $100 billion by 2020.
Nearly 3.5 million Koreans visited Việt Nam last year while Vietnamese tourist arrivals to the nation neared 500,000, up 42.1 per cent year on year.
People-to-people exchange has become widespread as well, with more than 150,000 citizens living and working in each other’s country. — VNS