Vietnam is entering an acceleration phase with massive capital demand for infrastructure, digital transformation, green transition, and innovation. To meet these requirements, a deeper and more diverse financial market capable of effectively connecting with international capital is essential.

This was emphasized by Assoc. Prof. Dr. Nguyen Huu Huan, Vice Chairman of the Executive Board of the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC), at the Vietnam-South Korea Financial Cooperation Forum. The event was co-organized by VIFC-HCMC and the Consulate General of the Republic of Korea in Ho Chi Minh City on July 13.

Under this strategy, VIFC-HCMC is envisioned not only as a hub for financial institutions but also as an international financial ecosystem. It aims to connect capital flows, technology, and high-quality human resources while piloting new financial models and developing products that directly serve the real economy.

According to Mr. Huan, priority sectors include asset management, international capital markets, international bonds, green finance, fintech, cross-border payments, maritime and aviation finance, along with supporting services such as credit rating, auditing, arbitration, and professional training.

Drawing from the development of financial centers in Seoul and Busan, South Korean experts suggested that each financial center should adopt a development model tailored to its local advantages. Key focus areas such as fintech, digital finance, regulatory sandboxes, sustainable finance, and asset management are considered valuable experiences for the VIFC-HCMC.

Vietnam boasts advantages in economic growth, market size, a young workforce, and rapid technological adaptability. Meanwhile, South Korea possesses a modern banking system, highly developed capital markets, digital payment infrastructure, and extensive experience in operating international financial hubs.

On this basis, both sides identified several priority cooperation areas, including capital market connectivity, supply chain finance, green finance, local currency payments, sharing financial management expertise, and supporting businesses in accessing each other's markets.

A notable highlight of the forum was the initiative to connect cross-border QR payment infrastructure between the two nations.

A representative from the Korea Financial Telecommunications & Clearings Institute (KFTC) stated that a direct connection between national payment networks would allow users to use their domestic banking apps or e-wallets when paying in the partner country. This would reduce transaction costs, minimize the need for currency exchange, and broaden the reach of banks, card organizations, and fintech firms.

KFTC and the National Payment Corporation of Vietnam (NAPAS) signed a cooperation agreement on April 23, 2026, creating a foundation for the research and implementation of QR payment connectivity between the two markets.

Regarding the resolution of non-performing loans (NPLs), the Korea Asset Management Corporation (KAMCO) shared its experience in building a debt trading market based on four pillars: legal framework, market infrastructure, institutional capacity, and digital platforms.

Experts noted that standardizing asset data, increasing transparency, expanding the investor base, and developing centralized trading platforms would enhance valuation, improve liquidity, and attract professional capital into the debt market.