Promoting business cooperation and experience exchanges in creative innovation startups with South Korea
Publish date 15-03-2021 11:39

On 09 March, at a meeting with Mr. Ahn Min-sik, South Korean Consul General in Da Nang, Da Nang People’s Committee Chairman Le Trung Chinh, expressed his expectation that the Consul General would continue his work as a link to further the cooperative and friendly relationship between Da Nang and Korean regions and partners. Because of the COVID-19 pandemic, the two parties will carry out talks online regarding enhancing cultural exchange activities and promoting the investment and business environments. 

Chairman Chinh (right) presenting a gift to Consul General Ahn Min-Sik

According to the Chairman, in 2021 Da Nang is determined to complete its dual goals of controlling the COVID-19 epidemic and improving the attraction of investment by untying difficulties for businesses with a view to quickly recovering its economic growth rate.

Da Nang has chosen 2021 as “the year for its economic growth recovery and economic development”.

The chairman hoped that the Consul General would call for South Korean investors to fund such creative innovation startups as business incubators, joint office buildings, startup supporting services, and research and development centers in Da Nang. The municipal government is willing to provide good conditions for activities of the South Korean Consulate and to help Korean citizens in Da Nang to study, live, work, and travel.   

Chairman Chinh wished that the two parties continue promoting their cooperation in building an ecosystem for creative innovation startups. In particular, the Korean side will send specialists to Da Nang to provide advisory services for incubators, universities, education and training management agencies, and startup training. Furthermore, the possibility of organizing Korea-Viet Nam cultural exchange festivals annually will be considered. The first one is likely to be held this year and will be followed by a series of cultural events to celebrate the 30th anniversary of Korea-Viet Nam diplomatic relations (22 December 1992 - 22 December 2022). Additionally, special attention will be paid to connecting farmers in South Korea in need of seasonal work in agriculture with Da Nang’s districts where a highly skilled workforce is available as well as investing in the stable development of agricultural cultivation and pharmaceutical crop areas in Da Nang and Quang Nam Province and launching these products to marketplaces.

At the meeting, Consul General Ahn Min-sik congratulated Da Nang on its success in the 13th National Congress of the Party. The diplomat confirmed that he would contribute to promoting cooperative and friendly relations between Korea and Da Nang. Mr. Ahn highly appreciated the efficient cooperation on projects in Da Nang including the Vietnam-Korea Friendship Information Technology College in Da Nang and training students in information technology in the Highlands and Central Viet Nam.  

South Korea has among the top FDI funding rates in Da Nang (232 projects with total funding of over 390 million USD as of September 2020). The Consul General said that the Korean enterprises in Ha Noi and Ho Chi Minh City, after being surveyed, expected that they wished to invest and promote business and tourism cooperative activities with Da Nang as soon as the COVID-19 epidemic situation is controlled and business flights resume. 

Export turnover in 2019 from Da Nang to Korea was 40 million USD, an increase of 5% in comparison to 2018; import turnover from Korea to Da Nang was 75 million USD,  equal to  2018. As in October 2020, the export turnover from Da Nang to Korea was 32 million USD and the import turnover was 60 million USD. Main items for export were textile products, aquaculture, oil filters, air filters, finished rubber products, crafts, and kid toys. The main items for import were raw materials for rubber manufacture, textiles and garments, oil filters, air filters, plastics, and medicine.