01:55 (GMT +7) - Friday 22/11/2019

Vietnam Today

Vietnam & South Korea sign MoU on labor and employment

Released at: 08:17, 31/08/2019

Vietnam & South Korea sign MoU on labor and employment

Photo: MOLISA

MoU to strengthen cooperation over next five years.

by Le Diem

The Ministry of Labor, Invalids and Social Affairs (MoLISA) and South Korea’s Ministry of Employment and Labor have signed an MoU on cooperation in labor and employment.

The two ministries set a goal of establishing a collaborative framework for the next five years to boost policy planning capacity in terms of employment, vocational training, occupational safety and hygiene, labor management, profession enhancement, and, particularly, social insurance for workers.

Based on the positive results from their cooperation pacts signed in 2004, 2009, and 2013, the two ministries have also agreed to establish a partnership and expand their joint work in the labor and employment field, including policy consultancy and worker and expert exchange.

Addressing the signing ceremony, Deputy Minister of Labor, Invalids and Social Affairs Le Tan Dung said South Korea is now the largest foreign investor in Vietnam with more than 6,000 projects, creating jobs and ensuring welfare for over 700,000 workers in the three decades since the two countries established diplomatic relations.

Bilateral labor cooperation has been given more attention, in particular an agreement on a technical support project for Vietnam’s employment service information network worth about $2.9 million in the 2017-2019 period. MoLISA has also promoted cooperation with many South Korean agencies in the field of labor, workplace safety, vocational training, and human resources development.

Appreciating the cooperation with Vietnam, Deputy Minister of Employment and Labor Im Sep Jeong stressed the major cooperation potential in labor and employment between the two countries and expects to further expand their partnership through the signing of this MoU.

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