Events

Seminar: "VKFTA: 10 Years of Cooperation and Future Prospects"

24/11/2025    618

Seminar

VKFTA: 10 Years of Cooperation and Future Prospects

Time: November 24, 2025

Venue: Foreign Trade University, Hanoi, Viet Nam

Seminar organizers: Foreign Trade University in collaboration with Korean Embassy in Viet Nam

The seminar was a flagship event held to commemorate the 10th anniversary of the implementation of the Viet Nam-Korea Free Trade Agreement (VKFTA), a significant milestone in the economic cooperation between the two countries. The event was honored by the participation of representatives from ministries, research institutions, business associations, and the Viet Nam-Korea business community, underscoring the Republic of Korea’s position as one of Viet Nam’s most important and sustainable trade and investment partners, while also reaffirming Viet Nam’s role as a strategic link in Korea’s regional supply chains.

In-depth discussions at the seminar reviewed key achievements over a decade of VKFTA implementation, analyzed the ongoing restructuring of global supply chains, and proposed directions for upgrading the Agreement to further promote bilateral cooperation in advanced manufacturing, supporting industries, the digital economy, and trade in services. These discussions contributed to strengthening the foundation of Viet Nam-Korea economic cooperation in a new development phase.

Content: Two main sessions

Session 1: focused on assessing ten years of VKFTA implementation, opening with a keynote presentation by Dr. Kim Bawoo, Economist at Samsung Electronics. His presentation provided an in-depth analysis of regional supply chain restructuring trends, the trade models of Korean enterprises operating in Viet Nam, and the significant contributions of Korean FDI enterprises to Viet Nam’s exports and ICT manufacturing sector. Based on bill-of-lading and supply chain data from 2019–2021, Dr. Kim highlighted that Korean enterprises currently account for more than one-third of Viet Nam’s exports and one-quarter of its imports, with a high concentration in information equipment, electronic components, and deep processing activities.

A roundtable discussion featuring Assoc. Prof. Dr. Trinh Thi Thu Huong - Director of the WTO Chair Programme at Foreign Trade University; Mr. Ngo Khac Le - Deputy Secretary General of the Viet Nam Logistics Business Association; Prof. Ryu Yongwook - Lee Kuan Yew School of Public Policy (LKYSPP); and Dr. Kim Bawoo delved into the impacts of VKFTA on bilateral trade and investment, the implications of U.S. tariff policies, emerging protectionist trends, and shifts in global supply chains. The panelists also analyzed key barriers faced by Vietnamese enterprises in participating in Korean supply chains, including limitations in supporting industries, logistics, technical standards, corporate governance, and ESG compliance. The session concluded with recommendations on upgrading VKFTA, strengthening supply chain linkages, developing logistics, fostering innovation, and enhancing the capacity of Vietnamese enterprises to effectively leverage the “friend-shoring” and supply chain diversification trends in the new context.

Session 2: focused on shaping a new chapter of cooperation between Viet Nam and Korea through FTAs. The session opened with a presentation by Assoc. Prof. Dr. Dao Ngoc Tien, Vice President of Foreign Trade University, who emphasized the renewed vision of both countries toward achieving a bilateral trade turnover of USD 150 billion by 2030, developing strategic technology sectors such as semiconductors, artificial intelligence, and renewable energy, and strengthening Viet Nam’s position in global value chains. Against the backdrop of supply chain restructuring, digital transformation, and Net Zero commitments, the presentation proposed several directions for upgrading VKFTA, including expanded trade liberalization, enhanced mutual recognition of TBT/SPS measures, promotion of rules-of-origin cumulation mechanisms, strengthened intellectual property protection, encouragement of training and R&D cooperation, and the development of new investment incentive mechanisms for high-tech sectors.

In the roundtable discussion moderated by Mr. Koo Bonkyung, Regional Director for Southeast Asia and Oceania at KOTRA, panelists, including Assoc. Prof. Dr. Dao Ngoc Tien; Mr. Nguyen Hoang Ha, Deputy Head of the Rules of Origin Division, Import-Export Department, Ministry of Industry and Trade; and Dr. Kim Hyunsoo, Head of the Trade Agreements Team, KIEP - examined opportunities to expand the scope of VKFTA into strategic sectors such as automotive, digital trade, and high-quality services. They also discussed the potential alignment of these upgrades with regional FTA frameworks such as RCEP, CPTPP, and AKFTA. The discussions highlighted the complementarity among these agreements in enhancing market access, strengthening supply chain linkages, developing digital capacity and technical standards, as well as the critical role of both governments in policy coordination, procedural simplification, and enterprise support to better utilize the expanded FTA landscape. The session concluded with the expectation that an upgraded VKFTA would serve as a foundation for deeper cooperation in advanced manufacturing, supporting industries, digital technologies, and energy transition over the coming decade.

The seminar documents are attached below:

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