South Korea assists Vietnam to implement support industry projects

15:45 | 09/06/2015 Industry

South Korea will assist Vietnamese businesses to carry out projects to develop new support industry products in four fields including garment and textile, mechanical engineering, automobile, electricity and electronics this year.

South Korea assists Vietnam to implement support industry projects

Precision mold making at Lap Phuc Company (Photo: SGGP)

That was announced by the Heavy Industry Department under the Ministry of Industry and Trade, saying the assistance fall within the framework of Vietnam-South Korea cooperation program in 2015.

South Korea will provide Vietnamese businesses with financial aids and send experts to study and successfully develop new technologies and products.

The program will be implemented in one year with a total aid of KRW100 million (US$89,300) for a project.

Businesses can submit their projects to the Heavy Industry Department, who will work with the Korea Institute for Advancement of Technology to select the most feasible projects and suitable experts to carry out them.

The department said that the ongoing program of transferring 100 Korean technologies to Vietnam would continue this year.

Businesses can inform the Ministry of Industry and Trade of transferred technologies that they want and propose new ones for the next phase of the program./.

Source:  SGGP News