The Export-Import Bank of Korea will open a $2 billion credit line to Vietnam’s state-owned oil and gas group PetroVietnam. This will help South Korean companies venture into Vietnam’s fast growing economy and participate in the country’s large-scale infrastructure projects. In 2018, the two countries’ bilateral trade volume came to $68.3 billion, a dramatic hike from $500 million in 1992, when the two sides established diplomatic relations. South Korea is Vietnam’s second largest trading partner, and Vietnam is South Korea’s fourth largest trading partner. Currently, 7,000 Korean firms are operating in Vietnam including big companies like Samsung, LG and Hyundai.