South Korea and Vietnam have enjoyed more than 30 years of diplomatic relations. The two sides became 'Strategic Partnership' in October 2009, and further upgraded the relationship to 'Comprehensive Strategic Partnership' in December 2022. As of present, South Korea has become one of Vietnam's top economic partners, ranking first in investment, second in official development assistance, and third in trade.
Currently, South Korean investors have over 9,500 active projects with the total registered capital of nearly $82 billion in Vietnam. Approximately 9,000 Korean businesses have invested in Vietnam, with many prominent names playing an important role in the expansion and promotion of Vietnam as a global supply chain partner. The bilateral trade value between the two countries has increased by 175 times since the establishment of diplomatic relations in 1992, and the trade turnover in 2022 reached the highest level in history at $87.7 billion.
The visit of President Yoon Suk Yeol and the delegation to Vietnam this time is expected to create more momentum and promises new breakthroughs in trade and investment cooperation between the two countries.
HDBank has officially announced the launch of the 'Korea Desk', a specialised department that provides international standard banking products and services, as well as dedicated advisory support for Korean corporate customers currently operating or planning to operate in Vietnam. Currently, HDBank serves and provides financing for over 80 Korean corporate customers investing in Vietnam that make significant contributions to the country's export activities.
With HDBank's Korea Desk service, customers will be provided with a full range of banking products and services, including account services, liquidity management, business financing, project investment, import-export financing, e-banking services, financial and investment advisory, tax, and labour-related issues.
With the cooperation of potential partners from South Korea, the service will strengthen the trade and investment cooperation of Korean enterprises in Vietnam, as well as connect and promote trade and investment activities between the two countries.
"The visit of the South Korean president to Vietnam is an opportune time for HDBank to launch the Korea Desk service. Through this, the bank aims to support Korean enterprises in operating in Vietnam with better conditions and to support Vietnamese businesses in promoting their potential partners from South Korea", said Kim Byoungho, chairman of the Board of Directors of HDBank.
According to chairman Kim Byoungho, HDBank will expedite plans to establish a representative office in Seoul in the near future. Once operational, this office will serve as a direct bridge for HDBank in South Korea, further expanding opportunities for trade and investment cooperation between the two countries.
HDBank successfully implemented the Japan Desk in 2014, a specialised service for Japanese corporate customers. With the expansion of this model through the Korea Desk service, as well as the promotion of plans to establish a representative office in South Korea, HDBank continues to take proactive steps in its internationalisation and global integration strategy.