KITA sets up Vietnam office
Published : Sep 7, 2011 - 19:28
Updated : Sep 7, 2011 - 19:28
Korea International Trade Association chairman SaKong Il (third from left), Ho Chi Minh City Vice Mayor Nguyen Thi Hong (second from left), Korean ambassador to Vietnam Ha Chan-ho (fifth from left), SeAH Steel Corp. chairman Lee Woon-hyung (eighth from left) and other officials cut the tape at a ceremony to launch KITA’s regional office on Wednesday in the Vietnamese city. (KITA)

South Korea’s trade association said Wednesday that it has opened a representative office in Vietnam to help companies expand business ties with the fast-growing Southeast Asian country.

The Korea International Trade Association said the office in Ho Chi Minh City will act as a new center for South Korean businesses by providing market-related information and helping companies resolve difficulties they may encounter in Vietnam.

As of July, there were around 2,500 South Korean companies operating in Vietnam that hired 150,000 local workers. South Korea is the largest foreign investor in the country, having poured $23.4 billion into business-related projects so far.

It said the office will also support export marketing efforts and assist businesses operating in nearby Cambodia, Laos, Myanmar and Thailand. 

“The Ho Chi Minh office has been set up to expand economic ties with Vietnam that have managed to achieve stunning growth,” KITA head Sakong Il said at the opening ceremony, adding that it will become a regional think tank by providing vital information to meet the needs of businesses. 

(Yonhap News)