KOTRA to move Southeast Asia headquarters to HanoiFriday, May 11,2018
AsemconnectVietnam - The Korea Trade-Investment Promotion Agency (KOTRA) said on May 10 that it will relocate its Southeast Asia headquarters from Singapore to the Vietnamese capital city of Hanoi to support Korean companies doing businesses in the fast-growing market.
According to KOTRA, bilateral trade between Vietnam and the Republic of Korea (RoK) reached US$63.9 billion in 2017. Vietnam is now the fourth largest trading partner of the RoK while the country is Vietnam's second-largest.
The agency also plans to open new business centres in Ahmedabad, an industrial city in western India, and in Da Nang, a commercial hub in Vietnam’s central region.
KOTRA will expand business centres in promising markets to keep up with the changing trade environment, said CEO Kwon Pyung-oh.
The agency is currently operating 10 local head offices and 127 business centres in 86 countries around the world.
Vietnam and the RoK are working to raise two-way trade to US$100 billion by 2020. The RoK ranked first among 125 nations and territories pouring capital into Vietnam in 2017, with total registered capital hitting US$57.7 billion.
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