Kim Ki-moon "Need for Innovation Technology-Based Cooperation with Vietnam"... 'Baekdu Forum' Held in Da Nang

Discussion on Korea-Vietnam Cooperation Projects Amid Global Supply Chain Crisis

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, is delivering the opening address at the '2022 Baekdu Forum' held on the 8th (local time) at Shilla Monogram Danang in Danang, Vietnam.

[Asia Economy Reporter Donghyun Choi] "While economic cooperation between Korea and Vietnam has traditionally grown around labor-intensive industries such as electronics and textiles, going forward, advanced economic cooperation based on innovative technologies is necessary."

Kim Gi-moon, Chairman of the Korea Federation of SMEs, stated this at the opening ceremony of the '2022 Baekdu Forum' held on the 8th (local time) at Shilla Monogram Danang in Danang, Vietnam. Chairman Kim emphasized, "Korea should support Vietnam with advanced technology and skilled personnel, and the Vietnamese government should facilitate more active economic cooperation between the two countries through institutional improvements and generous policy support."

Now in its 13th year, the Baekdu Forum was co-hosted with the Vietnam Chamber of Commerce and Industry (VCCI). The Baekdu Forum is a global forum for SME representatives. It has mainly been held in countries serving as overseas bases for SMEs to build overseas networks and discuss trade issues. This year, it was held in Danang to commemorate the 30th anniversary of diplomatic relations between Korea and Vietnam.

The forum was attended by over 80 people, including the Korean SME delegation, An Min-sik, Consul General of the Republic of Korea in Danang, and Choi Kwang-jin, Vice President of IBK Industrial Bank of Korea. From Vietnam, about 40 people attended, including Nguyen Van Duoc, Party Secretary of Long An Province, VCCI Chairman Pham Tan Cong, and Vietnamese businesspeople. VCCI Chairman Pham Tan Cong said, "It is meaningful that today's meeting of SMEs takes place at a time when President Yoon Suk-yeol and President Nguyen Xuan Phuc recently agreed to strive to increase bilateral trade to $100 billion next year and $150 billion by 2030," adding, "We hope this event will create special cooperation opportunities between the two countries."

This year’s forum theme was "Global Supply Chain Crisis and Korea-Vietnam Cooperation Tasks," aiming to explore survival strategies for SMEs amid rapid changes in the global order.

The first presenter, Choi Kyung-soo, Executive Director at Samsung Electronics, shared business cases of Samsung’s efforts since 2015 to build a supply chain ecosystem and strengthen human resources in Vietnam under the theme of supporting the development of Vietnam’s parts industry.

Jeon Seong-ho, Head of Lotte Properties Ho Chi Minh branch, shared the background and cases of Lotte Group’s investment in Vietnam. He also introduced the status of market entry in Vietnam across major sectors such as distribution, hotels, infrastructure, food, and chemicals.

The final presenter, Nguyen Cam Phuong, CEO of Saigontel, a leading Vietnamese industrial park developer, explained the advantages of the Vietnamese market, citing affordable labor and successful inflation control policies.

Kim Gi-moon, Chairman of the Korea Federation of SMEs, stated, "The global supply chain is collapsing due to rising protectionism triggered by the US-China trade dispute and the aftermath of the Ukraine war," adding, "For the joint development of both economies, Korea should support technology and skilled personnel, and Vietnam should create a foundation for advanced cooperation by improving systems to facilitate smooth business management."

Danang (Vietnam) = Reporter Donghyun Choi (nell@asiae.co.kr)