Bonghwa county in the Republic of Korea’s North Gyeongsang province convened a public hearing on February 10 to gather feedback on a proposal to designate the planned K-Vietnam Valley, also known as Vietnam Village, as a Special Local Development Zone.

A community centre within the Vietnam Village.

The session examined draft operational and business plans for the village and associated commercial projects. It formed a key step in Bonghwa’s process to incorporate community input and refine the project blueprint.

The agenda featured a review of the special-zone designation’s background and current progress, a presentation of the detailed draft business plan, a breakdown of core elements in the environmental impact assessment, and a question-and-answer session.

The county authorities said all opinions gathered at the hearing will undergo thorough review prior to additional consultations with relevant agencies. The county plans to apply for the status to the RoK Ministry of SMEs and Startups in March.

The K-Vietnam Valley project envisions an international exchange hub focused on culture, tourism and education, leveraging RoK-Vietnam cultural and historical links rooted in Bonghwa county.

Through the project, Bonghwa aims to build unique local branding content and create a sustainable growth model. Authorities forecast that special zone recognition would deliver tailored regulatory incentives, generating economic gains through more tourism inflows and extended visitor stays.

Park Hyun Guk, Mayor of Bonghwa county, affirmed that K-Vietnam Valley would serve not only as a key growth driver for Bonghwa but also as a symbolic model of friendship and cooperation between the RoK and Vietnam. He pledged to carefully review public feedback to shape a special zone model that grows in harmony and prosperity with the broader region.

Bonghwa carries historical significance as the landing point of Prince Ly Long Tuong more than eight centuries ago, marking one of the earliest cultural bridges between the Vietnamese and Korean people.

In August 2025, the county opened a community centre in Bonghwa Village and unveiled a statue of King Ly Thai To, key early achievements in the longstanding ambition to build Vietnam Village as a vibrant link uniting culture, people, tradition and the future.

Official calls for stronger Vietnam – RoK economic, locality-to-locality links

Vice Chairwoman of the National Assembly Nguyen Thi Thanh suggested Prof. Kim Hak-min help to encourage Korean enterprises and localities to further expand investments in Vietnam.

 

RoK company expands rare earth metal production in Vietnam

LS Eco Energy, a company specialising in renewable energy and rare earth elements under the Republic of Korea (RoK)'s LS Cable & System, has approved a plan to expand its rare earth metal business in Vietnam, in a bid to seek long-term growth in the strategic materials sector.

 

Vietnam, RoK strengthen cooperation on trade remedies

Currently, both the RoK and Vietnam are each applying four trade-remedy measures on goods imported from the other. In particular, the RoK side called on Vietnam to exercise caution in its application of anti-dumping measures on four steel products from the RoK.

 

Bac Ninh, RoK's Gyeongsangbuk-do seal cooperation pact

Under the agreement, both sides will work together on delegation visits and cultural exchanges, boosting cooperation and sharing information in areas like economy, trade, and science and technology. They’ll also promote the exchange of students and skilled workers to support mutual growth.

 

Vietnam, RoK step up cooperation in labour, employment

Both sides commended the strong development of Vietnam – RoK diplomatic relations and agreed on the need for closer coordination between the Vietnam General Confederation of Labour (VGCL) and Korean labour authorities.

 

RoK supports SMEs in securing stable production bases in Vietnam

The newly signed MoU aims to assist the global expansion of Korean SMEs, which have been increasingly challenged by rising protectionism and tightening trade regulations. Its key objective is to help Korean small-scale manufacturing firms secure stable production bases in Vietnam, a fast-growing economy, thereby enhancing their competitiveness in international markets, including Southeast Asia.