Vietnamese - South Korean Relations: A View from Comparative Advantage Perspective

Abstract

In the past 30 years, the Vietnamese- South Korean relations have developed and achieved many remarkable successes. Now, it becomes a model for respectable relations between the two countries in East Asia. South Korea is a developed country with many economic advantages in capital, science and technology, and development experience. Meanwhile, Vietnamese economy is young, dynamic, and promising with advantages in human resources, natural resources, and geopolitically strategic position. With abundant resources, Korea has all capable conditions to help Vietnam take advantage, exploit, and promote its advantages in the process of economic development and industrialization. This article analyzes the strengths and complementary cooperation between Vietnam and South Korea based on the comparative advantages of the two countries. it demonstrates that the relationship is close, practical, and long-term strategic, with greatly potential benefits for both.