(VOVworld) – Vietnamese ambassador to the Republic of Korea Pham Huu Chi told the Vietnam News Agency that 2015 was a breakthrough year in relations between the two countries.

By 2015 Korean FDI in Vietnam reached 50 billion USD and two-way trade in 2015 was 36 billion USD, up 23% from 2014. Vietnam and the Republic of Korea signed a free trade agreement in December, 2015. Ambassador Chi said once their FTA takes effect the two countries will have more opportunities to penetrate each other’s market. He added that a new wave of Korean investment is expected in Vietnam in 2016, which will be a precondition for 2-way trade to reach 70 billion USD by 2020.