Vietnam - South Korea promote sustainable fisheries development
(seafood.vasep.com.vn) Vietnam and South Korea have just signed a Memorandum of Understanding to expand cooperation in offshore aquaculture, promote sustainable fisheries development, transfer aquaculture technology and address the European Commission’s “yellow card” on Vietnamese seafood.
South Korea is currently one of the largest foreign investors in Vietnam with total investment exceeding $92 billion. In 2024, bilateral trade between the 2 countries reached over $82 billion with seafood products accounting for $890 million; of which Vietnam’s exports to South Korea amounted to more than $800 million.
Vietnam’s Ministry of Agriculture and Environment has stated that there is significant potential for further cooperation and investment in the fisheries sector. Vietnamhopes to access South Korea’s environmentally friendly industrial cage aquaculture technology and collaborate with South Korean businesses through public-private partnership (PPP) models; invest in marine farming incorporating artificial intelligence (AI) and enhance capacity building and address ocean plastic waste management.
For its part, South Korea has affirmed its readiness to transfer advanced technologies and promote seafood trade during the 2026 - 2030 period. Both sides are committed to effectively implementing the Memorandum of Understanding to elevate bilateral fisheries cooperation to new heights.