Vietnam has become Korea s largest trade surplus country for the first time
According to the Ministry of Trade, Industry and Energy, Korea's exports to Vietnam reached $60.98 billion and its imports from Vietnam reached $26.72 billion last year, resulting in a trade surplus of $34.25 billion for the first time in Korea.
Last year marked the 30th anniversary of the establishment of diplomatic ties between the ROK and Vietnam. The two countries had previously carried out investment cooperation in various fields, which contributed to a substantial increase in the ROK's surplus with Vietnam. A ministry official said that Vietnam is emerging as a production base for multinational companies in ASEAN and that the surplus with Vietnam is the result of South Korean companies' efforts to establish economic partnerships with Vietnam.