Latest News about South Korea
South Korea has opened up its market to Vietnamese rice, setting the annual import quota of Vietnamese rice at 55,112 tons, according to the Import-Export Department at the Ministry of Industry and Trade.
Both SK Group and South Korea’s National Pension Service (NPS) would contribute US$430 million to the fund.
Many local tour operators remain concerned, following the recent disappearance of 164 Vietnamese students in South Korea, that the country would tighten visa requirements for Vietnamese citizens.
The Vietnamese Ministry of Education and Training is working closely with the Vietnamese Embassy in South Korea to handle the situation.
The Vietnamese Ministry of Education and Training and the Vietnamese Embassy in South Korea are investigating 164 local students that have been reported to have vanished from Incheon National University.
The South Korean tourism authority plans to tap new customer segments in Vietnam and prevent low-cost, poor-quality tours from operating in the local market to enhance the value of its tourism products and attract more tourists.
Vingroup is now able to focus on its core businesses while Masan found its last piece of a puzzle to build an empire of consumer retail.
The move is aimed to help develop the automotive supporting industries, particularly as Vietnam still has to import massive basic materials for domestic car production.
icon SCI-TECH & ENVIRONMENT
Samsung wants to change the purpose of the R&D Center or transfer the building and its related land-use rights to another party, in case of necessity.
The public capital must be allocated based on market principles, said an expert.
Around 50% of Samsung's smartphones and tablets are produced in Vietnam and exported to 128 countries and territories.
The US-China trade war may be behind such a record figure.
Growing attractiveness of Vietnamese banks' shares is thanks to a positive revamp and strong outlook of the sector, particularly as Vietnam is accelerating global economic integration.
Vietnam and South Korea considered ways to bolster trade and investment ties to bring their bilateral trade to US$100 billion next year at the Vietnam-South Korea Business Summit last Friday.
As of present, just 40% of citizens in Vietnam have bank accounts. However, 90% of daily transactions are conducted in cash, while the rate goes up to 99% for transaction worth under VND100,000 (US$4.34).
There will be no need to wait until next year to see new waves of South Korean investment into Vietnam, as new developments take shape on the back of the latest moves from the governments of the two countries.
icon ENTERTAINMENT & SPORTS
A photo exhibition was opened at the Korean Cultural Center in Hanoi on November 4 to introduce South Korea’s Baekje Historic Areas, a 1,500-year-old historical site that has been recognized by UNESCO as world heritage.