Vietnam and South Korea aim to raise the value of bilateral trade
between the countries to $100 billion next year and to $150 billion
by 2030, up from $78 billion last year, the Vietnamese government
said.

The trade targets were agreed during a telephone call between South
Korean Prime Minister Han Duck-soo and his Vietnamese counterpart
Pham Minh Chinh late on Tuesday, a government statement said .

South Korea is an important economic partner for Vietnam and the
largest source of foreign direct investment. Samsung Electronics is
the biggest single foreign investor in the Southeast Asian country.

Han and Chinh also agreed to seek ways to narrow the gap in bilateral
trade, the statement said.

Vietnam incurred a trade deficit of $34 billion with South Korea last
year, according to Vietnamese customs data. Vietnam’s main imports
from South Korea include electronics, machinery, metals, plastics,
fabrics and fuels.

During the call, Han and Chinh also shared views on the importance of
maintaining peace and stability and maritime safety and freedom in
the South China Sea, the statement said.

Reporting by Khanh Vu; Editing by Ed Davies