Korean Trade and Investment Activities in Vietnam: Mechanism for Settling Commercial Disputes and Practical Issues

May, 2019 marked 4 years since the signature of the Vietnam-Korea Free Trade Agreement (VKFTA), nearly 14 years since the signature of the ASEAN – Korea Free Trade Agreement in December, 2005 (AKFTA), and 26 years since the signature of the first Agreement Promotion and Protection of Investment (VKBIT) between the two countries in May, 1993.

Throughout the past three decades, Korea has become one of Vietnam's
most important trade and investment partners. In 2018, the trade balance between the two countries reached over US$ 65.7 billion; and as of 2018, there are more than 7,600 active investment projects and a total registered investment capital of about 63.7 billion USD. Most of Korea's leading corporations such as Samsung, LG, Lotte, Posco, Daewoo, Hyundai, Hyosung, SK, CJ. etc. have injected billions of dollars in projects covering several fields and industries.