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South Korea and Vietnam expand cooperation in textile and garment sector,

The textile trade bodies of both, Vietnam and South Korea have signed an agreement to expand cooperation in the textile and apparel sector.

A Memorandum of Understanding (MOU) was signed between the Korea Federation of Textile Industries (KOFOTI) and the Vietnam Textile and Apparel Association (VITAS) earlier this week.

The MoU was signed at a ceremony held at ‘Preview in Seoul 2023’, a textile and garment trade show in Seoul. The agreement will strengthen the partnership between the textile and clothing industries of both countries, primarily on sustainable development, digital transformation, and supply chains.

Vietnam has been experiencing high economic growth rates and coupled with the Vietnamese interest in South Korean culture, the MoU is expected to boost the prospects of the Korean textile industry in Vietnam.

“South Korea and Vietnam have been reliable partners in textile production, processing, and export for the past 30 years,” KOFOTI Chairman Choi Byung-oh said while speaking at the ceremony.

“VITAS and KOFOTI will expand exchanges of information and innovation technology, promote cooperation to take advantage of the free trade agreements and attract investment,”

VITAS President Vu Duc Giang also said.
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