Today, the first day of his state visit to Vietnam, President Moon Jae-in visited Hanoi`s Hoa Lac High-tech Park (HHTP) to attend a groundbreaking ceremony for the Vietnam-Korea Institute of Science and Technology (VKIST). 

The VKIST construction is scheduled to be completed in 2020. This project is regarded as a successful example of development cooperation in the field of science and technology between the two countries. Korea and Vietnam have split the cost of the project by paying US$35 million each over the years since 2014, making it one of the best practices of the official development assistance program.

VKIST is aimed at applying Korea`s model of successful industrialization based on science and technology to Vietnam. It is not just about jointly constructing buildings for the institute. Equipment and materials will be provided; programs will be carried out to enhance capabilities of the staff at the institute and consulting services will be provided. For the sustainable development of Vietnam, Korea will provide necessary support for the nurturing of its professionals in science and technology. This project has added significance in that it constitutes one example of Korea actively contributing to the progress of the international community. Korea was able to achieve remarkable economic growth on the strength of the Korea Institute of Science and Technology (KIST) that was built with the assistance of advanced nations.  

Quoting a Vietnamese saying, “if you have a friend and determination, you can avoid loneliness and succeed,” President Moon stressed in his congratulatory remarks that Vietnam and Korea had already become indispensable friends. The President also said VKIST symbolized the solid trust between the two countries and their determination to cooperate.