Vietnam - Korea Strengthen Trade Relations in Information Technology

FPT Korea was one of three companies recognized with a Certificate of Merit by the Ministry of Information and Communications during the inaugural Vietnam - Korea Digital Forum 2024 in Seoul, Korea, held on August 2.

FPT representative (2nd from right) received a certificate of merit from the Ministry of Information and Communications.

On August 2, the Vietnam Software and Information Technology Services Association (VINASA) and the Korean Software Industry Association (KOSA) jointly hosted the inaugural Vietnam - Korea Digital Forum 2024 in Seoul, Korea. The Forum aimed to support the Vietnamese IT business community by facilitating trade connections, sharing market needs, and exploring collaboration opportunities with international partners in key markets.

The Forum was attended by Minister of Information and Communications Nguyen Manh Hung, Vietnamese Ambassador to Korea Vu Ho, representatives from the Korean Ministry of Science and Technology, VINASA, and nearly 20 Vietnamese technology enterprises. Additionally, 150 delegates from Korean associations and businesses were present.

The Forum featured key activities, including workshops, exhibitions, bilateral cooperation signings, and 1:1 networking session between Vietnamese IT businesses and international partners.

VINASA Chairman Nguyen Van Khoa expressed his ambition to establish the Forum as an annual platform for fostering connections between Vietnamese IT businesses in Korea. He emphasized that this initiative marks the beginning of a robust and dynamic phase of development cooperation, spanning policy, market expansion, training, and human resource development.

According to VINASA, Korea represents an up-and-coming market for Vietnamese IT companies. The Korean IT outsourcing market is currently valued at over 600 billion USD and is projected to reach approximately 800 billion USD by 2028. Presently, more than 10 Vietnamese software companies, including FPT, CMC, NTQ Solutions, and OmiGroup, have established a presence and are actively expanding operations in the Korean market.

Mr. Nguyen Van Khoa, Chairman of VINASA, spoke at the inaugural Vietnam - Korea Digital Forum 2024 in Seoul, Korea.

Additionally, Korea faces a significant shortage of IT personnel, with a current need for 740,000 workers, while the domestic training capacity is expected to fall short by 490,000. Vietnamese IT engineers, recognized for their competence in various global rankings, are seen as a potential solution to this gap. Speakers at the Forum expressed strong optimism about the prospects for collaboration in training and developing high-quality human resources tailored to the Korean market
's demands.

Five memoranda of understanding (MoUs) were signed during the Forum. Notably, FPT IS and SK C&C have partnered to develop technology solutions and green transformation services for global business clients, with a focus on Vietnam, Korea, and Southeast Asia.

At the Forum, Minister of Information and Communications Nguyen Manh Hung presented Certificates of Merit to three Vietnamese digital technology enterprises in Korea: FPT Korea, NTQ Solution Korea, and CMC Korea.