Last April, Hai Phong City also witnessed the Korean business association launch the Korean Chamber of Business in Hai Phong (KOCHAM Hai Phong) with more than 60 members. The association is expected to connect Korean businesses and local authorities, transmit proposals and recommendations, and improve the benefits for the enterprises. Furthermore, the association’s activities are expected to facilitate the activities in the local business community.
South Korea currently has 183 projects with a total registered investment capital of 11.5 billion USD in Hai Phong City, 106 projects of which are in the economic zone with a capital of more than 10 billion USD, while 77 projects are outside the economic zone with the investment capital of more than 1 billion USD. These projects focus mainly on electronics, auto parts, and machinery.
The projects of Korean investors in Hai Phong City are considered effective, with many high-tech products gradually helping to improve the science and technology of enterprises in the city, increasing export turnover, solving problems, and contributing to the city budget, etc. As of December 2023, the export turnover to the Korean market through the Hai Phong’s port border gate was estimated to be about 15 billion USD, and the export turnover to the Korean market through the Hai Phong port system reached about 9 billion USD./.
