Hai Phong (VNA) – ꦗThe Vietnam-Korea Friendship Association (VKFA) and the Korean Association in the northern city of Hai Phong hosted a friendship exchange on January 20 during which the Vietnam-Korea Business Club in Hai Phong was launched.

Speaking at the event, Le Anh Quan, Standing Vice Chairman of the municipal People's Committee and Chairman of the VKFA, highlighted the leading role of the Republic of Korea (RoK) in the city’s development. The RoK now ranks first in investment capital (14.1 billion USD) and second in the number of projects (185) in Hai Phong. Korean businesses have significantly contributed to local socio-economic development, technology transfer, job creation, and revenue growth, while supporting Korean language teaching in several local schools. In addition, non-governmental assistance activities, as well as cooperation in culture, education, healthcare, science and technology, and locality-to-locality cooperation between Hai Phong and RoK counterparts have been actively implemented, he said, adding cultural exchange events have been regularly organised, fostering mutual understanding and stronger ties. Quan highlighted the relationship between Vietnam and the RoK is now at the highest level - comprehensive strategic partnership. As a developed nation with great strengths, the RoK is well-positioned to collaborate with Hai Phong, a city rich in potential, advantages, and opportunities for investment. The shared cultural and human values between the two nations further enhance their relationship, paving the way for futher enhanced friendship and people-to-people exchanges, especially between Hai Phong and the RoK. Hai Phong seeks continued support from the RoK Embassy and effective collaboration from Korean businesses, the offiical said, noting the city invites leading Korean corporations to invest in innovation, green economy, digital transformation, circular economy, and renewable energy. Chang Ho-Seung, Minister-Counselor and Consul General of the RoK to Vietnam, emphasised Hai Phong's critical role in the two nations' partnership. Housing many Korean businesses and residents, the city has attracted significant investment from the RoK, with LG Corp. being a notable contributor since the late 1990s. LG has transformed Hai Phong into a global production hub, creating numerous jobs for locals, Chang said. In addition to LG, many Korean companies have poured cash into Hai Phong, building partnerships with Vietnamese businesses and engaging in corporate social responsibility initiatives. Hai Phong is now seen as a model investment destination for RoK enterprises, thanks to strong support from local authorities and relevant agencies./.