The South Korea Trade and Investment Agency (KOTRA) will open a representative office in the central city to promote investment and connection among Korean investors.

President of KOTRA in Southeast Asia and Oceania, Kim Ki Joon made the announcement at a meeting with the central city’s leadership on September 10.

Kim, who is general director of KOTRA in Ha Noi, said "the introduction of an office in Da Nang aims to boost investment from Korea to the city and help promote tourism".

He said KOTRA moved its office from Singapore to Ha Noi in August.

Kim said KOTRA hoped to inaugurate the office in Da Nang in late November 2018.

Da Nang is the third city in Viet Nam with a KOTRA office after HCM City in 1992 and Ha Noi in 1996.

The state-funded trade and investment promotion organisation of Korea has 126 offices in 85 countries.

According to the city’s investment and planning department, Korean investors poured US$556 million in 112 direct investment projects in Da Nang.

Da Nang’s export turnover reached $17 million – marking growth of 14.5 per cent – in the first half this year, while imports from Korea totalled $36.5 million.

Korea plans to open a Consulate Office in Da Nang City to boost tourism and investment.

Korean tourists are the second largest segment of foreign tourist arrivals to Da Nang with nearly 1 million visiting the city last year, nearly 20 per cent of total foreign travellers.

Both Vietnamese and Korean budget airlines have operated daily flights between Korean cities and Da Nang since 2014.

According to the city’s tourism department, there are 12 flights from Korea to Da Nang every week, carrying an average of 1,500 passengers. — VNS