South Korea is willing to share its experience and help Vietnam reach its modernization and industrialization goals.

The first sod has been turned on the construction of the Vietnam-Korea Institute of Science and Technology (V-KIST) as part of South Korean President Moon Jae-in’s visit to the Southeast Asian country from March 22 to 24.

President Moon arrived in Hanoi for his official visit on Thursday afternoon before attending the groundbreaking ceremony for the V-Kist project at Hoa Lac Hi-Tech Park on the evening of the same day.

The idea for the building was first initiated during former Vietnamese Prime Minster Nguyen Tan Dung's visit to South Korea in March 2012.

Speaking at the ceremony, Vice State President Dang Thi Ngoc Thinh believed that the institute would play an important role in providing technological solutions for local businesses, contributing to the sustainable development of Vietnam.

President Moon stated that construction of the V-KIST will give Vietnam an opportunity to reach the next stage of its dream to build an industrialized and modernized nation.

With experience in rapid industrialization over the past five decades, South Korea is willing to help Vietnam reach its development goals.

The two countries have been cooperating over the past 25 years and will continue maintaining such ties in the future, the Korean head of state said.

V-KIST is proof of Vietnam and South Korea’s will and determination to enhance bilateral ties, for a brighter future of both nations, he remarked.

The institute is expected to be put into operation in 2020.

Earlier the same day, President Moon and Deputy Prime Minister Vu Duc Dam engaged in an exchange with Vietnam’s U23 football team, the runner-ups of this year’s AFC U23 Championship, along with the team’s head coach Park Hang-seo, who is a Korean national.

The official welcome ceremony for the South Korean president was scheduled to be held in Hanoi on Friday morning, before a meeting between President Moon and his Vietnamese counterpart Tran Dai Quang.

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