The program will gather over 300 businesses, including about 200 Vietnamese enterprises and 100 suppliers from Korea. The event focuses on manufacturing, electronics, technology, artificial intelligence (AI), semiconductors, healthcare, and consumer goods, aiming to foster direct trade connections between the two markets.

A key feature of the program is the 1:1 negotiation model, with 100 trade tables. Each 30-minute session allows businesses from both sides to discuss products, prices, and cooperation terms directly. Potential agreements can be signed on-site as memorandums of understanding (MOU).

A KOTRA representative stated the organization acts as a bridge, helping Vietnamese businesses access supply and partners from Korea. With a network of over 140,000 small and medium-sized enterprises (SME) and 131 global offices, KOTRA implements various trade promotion activities, fairs, and direct connections to expand international cooperation opportunities for businesses.

The "Vietnam-Korea business partnership" event scheduled for 23/4. *Photo: VPBank*

The trade relationship between Vietnam and Korea continues to grow. According to the General Department of Vietnam Customs, bilateral turnover reached 89,49 billion USD in 2025, a 9,74% increase from the previous year. Korea is a key trade partner for Vietnam and its fourth-largest export market, accounting for 6,09% of total turnover, though this is a slight decrease from 6,33% in 2024.

Despite this growth, Vietnamese businesses, especially SMEs, face challenges when engaging in supply chains with Korean partners. Common issues include complex international payment procedures, extended processing times, and working capital pressure due to upfront payments to exporters, which impacts the entire procurement-inventory-sales cycle. Additionally, many businesses struggle to assess supplier reliability and have limited access to unsecured credit from banks. These factors often lead to missed cooperation opportunities during negotiations.

Chu Minh Tuan, Director of Digital Business and Partner Development at VPBank SME, stated that Vietnamese businesses have ample opportunities, but financial tool limitations hinder their ability to close deals, especially at direct networking events.

During the event, VPBank SME will participate as a financial consultant, introducing payment solutions to support cross-border business-to-business (B2B) transactions. A notable offering is the VPBiz Visa Platinum corporate credit card, integrated with the GTPP platform – a specialized payment system for cross-border B2B transactions developed by KOTRA and NHN KCP.

This solution enables businesses to make online Vietnam-Korea international payments with a processing time reduced to about two minutes, compared to several days using traditional methods. Businesses can also pay exporters immediately and defer payment to the bank after completing the transaction, reducing working capital pressure.

The VPBiz Visa Platinum card also offers a relatively high credit limit, a fast approval process, and flexible transaction limits tailored to business needs. Users can access several benefits, including cashback on common spending categories: flights, hotels, technology, and foreign currency transactions, along with perks like airport lounge access or golf course offers.

A notable feature is that the supplier system on the platform undergoes prior vetting and verification before connection, helping to reduce risks in international trade transactions.

"We aim to be a financial bridge, helping Vietnamese businesses feel more confident when working with Korean partners. With solutions like VPBiz Visa Platinum, businesses can close deals quickly and manage cash flow effectively," a VPBank SME representative emphasized.

Furthermore, VPBank has partnered with the Suwon City Business Support Committee in Korea, connecting with nearly 350 local manufacturing businesses to expand supply sources for Vietnamese enterprises. Suwon City also covers all platform transaction fees for Vietnamese businesses when they pay for import orders using the VPBiz Visa Platinum card.

With its extensive networking scale and accompanying support solutions, the event is expected to create more opportunities for businesses from both countries to find partners and foster cooperation in key sectors.

(Source: VPBank)

Box: Readers can find more information about the VPBiz Visa Platinum payment solution here.