ABOUT FTA

Outcomes

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  • Fourth Year Outcomes of Korea-Viet Nam FTA
    • The KVFTA has contributed to upgrading bilateral relations between Korea and Viet Nam since its entry into force in December
      2015 by way of additional market-opening and eased rules of origin in comparison to the Korea-ASEAN FTA.
    • Even amid lingering uncertainty in the global economy and other unfavorable export conditions, Korea's exports to Viet Nam increased by 75.9% from $27.8 billion in 2015 to $48.6 billion in 2018, the fourth year of the FTA's entry into force. Over the same period, Viet Nam's exports to Korea also went up by 100.3% from $9.8 billion in 2015 to $19.6 billion in 2018(Source: Korea International Trade Association).Given additional tariff cuts going forward, bilateral trade driven by the FTA is expected to further expand over time.
  • Korea-Viet Nam Trade Status by Year
  • ($mill, YOY%)
    year '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18
    K-V value 5,760 7,805 7,149 9,652 13,465 15,946 21,088 22,352 27,771 32,651 47,749 48,622
    rise 46.7 35.5 ∆8.4 35.0 39.5 18.4 32.2 6.0 24.2 17.6 46.3 1.8
    V-K value 1,392 2,037 2,370 3,331 5,084 5,719 7,175 7,990 9,805 12,495 16,176 19,643
    rise 50.5 46.4 16.3 40.5 52.6 12.5 25.5 11.4 22.7 27.4 29.5 21.4
    total 7,152 9,842 9,519 12,983 18,549 21,665 28,263 30,342 37,576 45,146 63,925 68,265
    rise 4,368 5,768 4,779 6,321 8,381 10,227 13,913 14,362 17,966 20,156 31,573 4,340
  • Korea-Viet Nam Trade Status by Product in 2018
  • ($mill, YOY%)
    Korea -> Viet Nam Viet Nam -> Korea
    HS product value rise HS product value rise
    854231 Processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits 5,322 10.4 851770 Parts 3,308 14.6
    854890 Other 4,199 -10.0 851712 Telephones for cellular networks or for other wireless networks 1,006 19.2
    854232 Memories 3,506 19.8 852990 Other 741 97.6
    851770 Parts 3,165 48.9 901380 Other devices, appliances and instruments 587 178.4
    901380 Other devices, appliances and instruments 2,395 -1.3 620193 Of man-made fibres 522 31.4
    852990 Other 1,791 24.6 620293 Of man-made fibers 433 47.2
    853400 Printed circuits. 1,773 -15.5 852872 Other, colour 352 -7.4
    271012 Light oils and preparations 1,227 -34.0 440131 Wood pellets 333 94.5
    854239 Other 1,174 32.3 853400 Printed circuits. 323 -16.3
    854140 Photosensitive semiconductor devices, including photovoltaic cells whether or not assembled in modules or made up into panels light emitting diodes 732 64.6 847130 Portable digital automatic data processing machines, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display 270 16.7
  • Korea's Investment to Viet Nam by Year (reported)
  • (unit: case, $mill, YOY%)
    year '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17-3Q
    case 635 944 897 703 847 793 814 1,109 1,366 1,702 2,137 1,712
    rise 42.7 48.7 ∆5.0 ∆21.6 20.5 ∆6.4 2.6 36.2 23.2 24.6 25.6 8.0
    value 1,816 2,814 1,934 970 2,226 1,523 1,000 1,476 2,150 2,920 2,993 1,688
    rise 346.2 55.0 ∆31.3 ∆49.8 129.5 ∆31.6 ∆34.3 47.6 45.7 35.8 2.5 ∆43.6
  • Viet Nam's Investment to Korea by Year (reported)
  • (unit:case, $mill, YOY%)
    year '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17
    case 5 7 9 13 15 15 14 7 4 9 11 15
    rise 66.7 40.0 28.6 44.4 15.4 0.0 ∆6.7 ∆50.0 ∆42.9 125.0 22.2 36.4
    value 0.401 0.542 0.432 1 0.792 4 1 2 0.940 1 6 3.5
    rise ∆59.9 35.2 ∆20.3 131.5 ∆20.8 405.1 ∆75.0 100.0 ∆53.0 6.4 500.0 ∆41.7