Vietnam's garment manufacturing sector plays a vital role in the economic cooperation between Vietnam and Korea, according to the vice-chairman of the Federation of Textile Industries in South Korea. Representatives from both sides have recently a memorandum of understanding focusing on boosting trade and investment in the sector.
He said that there were many opportunities for Vietnamese garment products in South Korea. In 2008, South Korea was the second largest investor in Vietnam’s clothing sector after Taiwan with an investment of US $737 million.
South Korea was the sixth largest garment importers from Vietnam in 2008 with turnover reaching $139 million and in H1 of 2009, despite economic crisis, imports amounted to $77 million, up 43% over the same period last year.
He said that there were many opportunities for Vietnamese garment products in South Korea. In 2008, South Korea was the second largest investor in Vietnam’s clothing sector after Taiwan with an investment of US $737 million.
South Korea was the sixth largest garment importers from Vietnam in 2008 with turnover reaching $139 million and in H1 of 2009, despite economic crisis, imports amounted to $77 million, up 43% over the same period last year.
