According to statistics from the Korea International Trade Association, Vietnam’s textile exports to South Korea accounted for 34.05% of South Korea’s market share in the first three months of 2018, a year-on-year increase of 2.33%. Data shows that Vietnam has now surpassed China to become South Korea’s largest textile supplier.
According to statistics, Korean companies invested in a total of 44 textile projects in Vietnam in 2017, with a total registered capital of US$178.16 million. The Trade Counselor of the Consulate General of South Korea in Ho Chi Minh City said that the trade volume between South Korea and Vietnam has increased by more than 20% every year, reaching US$64 billion in 2017. The Vietnam-South Korea Free Trade Agreement (VKFTA) will also come into effect soon, opening up more opportunities for bilateral trade. (Title: Vietnam’s textile exports to South Korea increased by 2.33% year-on-year in the first quarter)
