The forum offers a chance for 100 businesses from both countries to exchange their experiences and seek partners, said Deputy Minister of Industry and Trade, Nguyen Thanh Bien.

Trade and Investment co-operation between the two countries has developed significantly in recent years, he said.

The RoK is the Vietnam’s second largest foreign investor with more than 2,280 projects worth US$22.4 billion. Big Korean firms, such as LG, Posco, Doosan, Samsung and Lotte, have operated efficiently in Vietnam.

Bilateral trade increased from a modest US$28 million in 1992 to US$10 billion in 2008. The global economic downturn caused a slight 4 percent drop to US$9.1 billion last year. The two countries aim to raise bilateral trade to US$20 billion in 2015, Mr Bien said.