|Electronic component manufacturing at YPE Vina-South Korea in Vinh Phuc province. (Photo: VNA/Hoang Hung)
More than 200,000 South Koreans are living in Vietnam and the Southeast Asian country generated the largest trade surplus for South Korea last year, KBS reported.
Vietnam is the largest consumer of Korean-made Choco Pie with spending of more than 81 million USD each year. The country is also home to 270 Lotteria shops, according to KBS.
The Korean broadcaster said that as Vietnam is becoming a global manufacturing hub, it needs to import sensor components, semiconductors, displays, steel, and other items that South Korea is a major producer.
In 2022, South Korea’s export to Vietnam hit 61 billion USD, nearly half of its export to the US and doubling its export to Japan. 9,000 South Korean firms are operating in Vietnam, KBS said.