These two countries came together against US tariffs!
South Korea and vietnam have recently agreed to help each other against the tariffs proposed by the US. This decision has been taken at a time when US President donald trump is preparing to impose tariffs of up to 25 percent on south korea and 46 percent on vietnam under the new policy. According to the report of Yonhap news Agency, South Korean Foreign minister Cho Tae-yul met Vietnamese Deputy prime minister and Foreign minister Bui Than Son in Vietnam's capital Hanoi. In this bilateral conversation, both the countries made it clear that they will do the necessary work to reduce the possible impact of the tariffs and also promote their strategic cooperation.
South Korea's large-scale investment in Vietnam
South Korean companies have invested heavily in Vietnam. Especially Samsung Electronics, which manufactures almost half of its smartphones in vietnam, which can be directly affected by US tariffs. Due to this, the dialogue between the two countries is not limited to trade but extends to diplomacy, security, energy, investment and infrastructure.
Request to the Vietnamese government
South Korea's Foreign minister Cho Tae-yul urged the Vietnamese government. He said that it should help the South Korean companies working there in removing stay permit, regulatory approval and other administrative hurdles. At present, about 10,000 South Korean companies are active in vietnam, which are making a significant contribution to the local economy.
Vietnam gave assurance
On behalf of vietnam, Bui Than Son assured that South Korean companies are a priority for his government. His government is trying to make the business environment more cooperative for these companies. Apart from this, he also said that the Vietnamese government is also completely serious about the safety of Korean citizens, especially those who are traveling to vietnam or living there.
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