South Korea Pledges US$268 Mln for Vietnam This Year
South Korea has pledged to fund US$268 million for Vietnam this year, according to Park Dae Won, President of the Korea International Cooperation Agency (KOICA).
Park Dae Won arrived in Vietnam for his working visit from January 17 to 20 to work with the Vietnamese Ministry of Planning and Investment on bilateral cooperation via non-refundable aid projects.
The KOICA said that grants by South Korea to Vietnam reached US$90.49 million between 1991 and 2008, or US$5.3 million on average annually.
In the first half last year, Vietnam became one of Korea's 10 largest export markets, Korea exported to Vietnam US$4.51 billion, up 77.7 per cent on year, so Vietnam beat India, Indonesia and Britain to become Korea's 10th export destination, according to KOICA.
Vietnam reported trade deficit of US$3.48 billion with South Korea during the time last year.
International donors pledged US$5.014 billion of ODA loans for Vietnam this year. (Vietnam Economic Times)
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