The Republic of Korea (RoK) has the largest number of investment projects among foreign investors in Hanoi with 636 projects, worth more than 3.5 billion USD.

RoK businesses mainly invest in the fields of hotels, office and urban area building.

At a meeting with Chairman of the RoK-Vietnam Friendship Association Choi Yong Joo in Hanoi on November 12, Vice Chairwoman of the Hanoi People’s Committee Nguyen Thi Bich Ngoc affirmed that economic cooperation between the RoK and Vietnam as well as Hanoi has become more and more fruitful.

She asked for further support and experience sharing from the RoK, especially in reducing traffic congestion, technology and the building of an electronic government.

Since 1996, the two capital cities of Hanoi and Seoul have signed a number of cooperation agreements and memorandum of understandings to step up their economic links. Notable, the Seoul government aided 4.3 million USD to making a development plan for the area along the two banks of the Red River section in Hanoi .

Hanoi has also created favourable conditions for many RoK businesses such as Keangnam, Chamvit, Posco Groups to operate in the city.-VNA