Korean President Moon Jae-in and Vice President of Vietnam Dang Thi Ngoc Thinh attended in the ceremony.
Speaking at the groundbreaking ceremony, the Vietnamese leader said that the Vietnam- Korea cooperation relationship has harvested good results during past 25 years, especially since the establishment of the strategical partnership relations in 2009.
The establishment of VKIST is an evidence for the blossomed cooperation ties between the two nations.
The Vietnam-Korea Institute of Science and Technology will play an important role in providing technology solutions, serving the industry and sustainable development of Vietnam.
The Korean President Moon Jae-in stressed that the ground-breaking ceremony of the Vietnam-Korea Institute of Science and Technology is remarkable event in supporting Vietnam's science and technology development as well as the close ties between Vietnam and Korea in all sectors.
The strengthening of cooperation to promote Vietnam's economic development through science and technology is considered as an evidence for southward-oriented economic strategic plan of the partner towards common prosperity.
Within the official visit framework of the Korean President, Minister of Industry and Trade of Vietnam Tran Tuan Anh yesterday held a talk with Minister of Trade, Industry and Energy Paik Un Gyu. The two leaders co-signed five ministerial- level cooperation documents and witnessed the signing ceremony between the Vice Minister of Industry and Trade of Vietnam and the General Director of Samsung Vietnam Group on the training and consulting program for Vietnam.
Besides that, 10 cooperation agreements in the field of industry and trade were also signed between enterprises of the two countries.
The two ministers agreed important issues on trade cooperation, especially creating favorable conditions for the export of agricultural products from Vietnam to the South Korea in order to reduce trade gap from Korea.
Korea will assist Vietnam in the field of support industry. According to the Ministry of Industry and Trade, the two-way trade turnover between Vietnam and Korea raised up to US$ 61.5 billion in 2017 so that Korea became the second-largest trading partner after China.
Currently, Korea is the fourth largest export market and second largest import market of Vietnam.