AsemconnectVietnam - In recent years, the bilateral trade relationship between Vietnam and South Korea has grown tremendously and "The land of kimchi" is now in the Top 3 largest partners of Vietnam.

Although it is suffering from a general decline due to the difficulties of global trade, the update of the General Department of Customs in the first 5 months of the year showed that the bilateral trade between Vietnam and South Korea still reached more than 29 billion USD.
In which, Vietnam's exports to South Korea reached 9.19 billion USD, down by 10.7% over the same period last year and accounted for 6.8% of the country's total export turnover.
Meanwhile, Vietnam's imports from South Korea reached 20.12 billion USD, down by 27.7% over the same period last year and accounting for 16% of the country's total import turnover.
The groups of goods with a large turnover in trade between the two countries related to the field of electronics (telephones, computers...); devices; textiles... with an annual turnover of several billions to tens of billions of USD/group of goods.
Typically, in the first 5 months of the year, the exports of computers, electronic products and components reached 1.91 billion USD; the exports of phones and components reached 1.3 billion USD; and the exports of machinery and equipment reached 1.12 billion USD.
In contrast, the imports of computers, electronic products and components reached 10.26 billion USD; and the imports of machinery and equipment reached 2.32 billion USD.
Currently, South Korea is Vietnam's third largest trading partner (after China and the United States), the total import-export turnover in 2022 between the two countries reached more than 86.5 billion USD.
CK
Source: VITIC/ haiquanonline.com.vn