For the successful implementation of the project, MOF is leveraging the untapped potential of blue carbon resources (mangroves) in the coastal region of Viet Nam.

The coastal region in northern Viet Nam, the target area of the project, is home to mangrove forests and tidal wetlands. After the mid-1990s, the region experienced a "Golden Era" with a booming shellfish farming industry. 

However, the overfishing of marine resources and coastal environmental degradation in recent years have had grave implications on the natural production of seed clams, causing disruptions in the supply of clam seeds and, in turn, a sharp drop in shellfish harvests.

To address this, the Vietnamese Government requested that the RoK share its leading aquaculture farming techniques, which has resulted in the National Institute of Fisheries Science embarking on a five-year technical cooperation project in aquaculture. 

After a two-year pilot project, the full-scale project will be implemented from 2022 to 2026 with a total budget of KRW 3 billion (or US$2.51 million). 

As a model of interdepartmental collaboration that combines Korea Forest Service's ongoing mangrove reforestation efforts (330 hectares for 2020 to 2024 with a budget of KRW 4.5 billion) and the MOF's aquaculture expertise, the project is expected to restore habitats rich in organic matter through mangrove rehabilitation and create synergy with shellfish farming.

More specifically, through the project, the MOF will modernize aging seed production facilities and idle aquaculture sites in northern Viet Nam as well as dispatch Korean aquaculture experts to the region for technology transfer and capacity-building education. 

Kim Hyun-Tae, Director General for International Cooperation Policies at MOF, commented, this is the first ODA project that integrates advanced aquaculture and reforestation techniques, expressing his hope that this will not only resuscitate Viet Nam's sluggish aquaculture production, but also provide an inroad for Korean aquaculture feed and facility businesses to enter overseas markets. 

The RoK is the second biggest ODA donor of Viet Nam supplying US$1.5 billion in 2016-2020 through the Korea Economic Development Cooperation Fund (EDCF).