The Vietnam-Korea Business Forum, held on July 1 in Seoul, saw the participation of over 500 delegates, including leaders from ministries, sectors, localities, and businesses from both Vietnam and South Korea. This event provided a valuable opportunity for leaders and businesses from both countries to share insights and discuss key objectives in advancing bilateral investment and trade relations.

Strengthening bilateral relations

In 2024, the relationship between Vietnam and South Korea has witnessed significant developments. South Korea is Vietnam's top foreign direct investment (FDI) partner, second in development cooperation and tourism, and third in labor cooperation and trade. As of April, South Korea's registered capital in Vietnam reached $87 billion, accounting for 18.25% of total FDI into the country. Bilateral trade hit $76.1 billion in 2023, and in the first four months of this year, bilateral exports reached $25.5 billion, a 4% increase compared to the same period in 2023. Cooperation between the two nations continues to expand across various sectors, including urban transportation infrastructure, healthcare, education and training, environment, clean energy, and information technology.

At the forum, Prime Minister Pham Minh Chinh emphasized the strong and positive diplomatic relations between the two countries, noting that the ties between the two sides have never been stronger. He highlighted the friendly, trustworthy, and substantial cooperation built on shared values and strategic interests.

CMC's strategic partnerships

Representing CMC at the forum were Mr. Young Eon Kwon, CEO of CMC Korea, and Mr. Nguyen Ngoc Giang, Director of the Business Production Center Korea at CMC Global. Under the high-level leadership of both Vietnamese and South Korean officials, CMC Corporation exchanged two MOUs with its Korean partners, KSP Steel and RSupport. These agreements aim to enhance the application of technological solutions and drive digital transformation processes for the Korean counterparts.

The collaborations will focus on implementing advanced technologies such as developing Manufacturing Execution Systems (MES), smart factory solutions, and applying artificial intelligence (AI) technologies to drive digital transformation activities.

Having collaborated with numerous leading technology companies and corporations in South Korea, CMC takes pride in playing a pivotal role as a trusted partner in digital transformation. Beyond delivering advanced technological solutions, CMC also supports South Korea’s digital transformation journey, demonstrating a firm commitment to invest and develop technology, particularly in the field of artificial intelligence (AI). Recently, the corporation officially announced its office in South Korea, further affirming CMC's commitment to expand and invest in the Korean market.

Mr. Nguyen Trung Chinh, Chairman of CMC Corporation, stated: "CMC is honored to be chosen as a trusted partner, addressing IT challenges for leading enterprises in South Korea on their digital transformation journey. We will continue to fulfill our commitments to contribute to the development of advanced technological solutions, aiming for a brighter and sustainable future. CMC not only aims to make its mark on the global technology map but also strives to contribute to building a prosperous and livable digital society in South Korea."

With over 31 years of development, CMC Corporation will collaborate with partners to address current challenges such as climate change and anticipate trends in green technology, contributing to the development of advanced technological solutions for a sustainable future. CMC's commitments to cooperate with Korean businesses are evidence of its dedication to South Korea's digital transformation journey, aiming to assist them in adopting advanced technologies and achieving their digital transformation goals.

PV