KOTRA and the Viet Nam National Trade Fair & Advertising JSC (Vinexad) are hosting the two-day Korea Expo 2016, which opened in Ha Noi on November 30.

KOTRA Chairman Kim Jae Hong said the event drew 67 businesses from South Korea along with 65 ASEAN enterprises and 350 Vietnamese ones.

On display are made-in-Korea products such as cosmetics, jewellery, fashion items, kitchen-household gadgets, food and beverages, light-emitting diode devices, kid toys and light industry materials.

Ha Noi People’s Committee Chairman Nguyen Duc Chung said South Korea is the largest investor of Ha Noi, with 1,175 projects worth more than US$5 billion by November 2016, making up 31 per cent of total projects and 20.86 per cent of total registered foreign capital in the city.

The projects mainly focus on real estate, health, education, processing-manufacturing, and construction services, he said.

Ha Noi is home to six projects worth around $15 million funded by South Korea’s official development assistance. They are being carried out vocational training, healthcare, urban management, and infrastructure building.

A free trade agreement between Viet Nam and South Korea came into force last year, removing several tax lines. — VNS