South Korean companies have discussed various potential business deals with a combined value of up to US$100 million with Vietnamese counterparts during an export event in Hanoi on Thursday, the industry ministry said.

The South Korea-Vietnam partnership fair took place on the margins of South Korean President Yoon Suk Yeol's three-day state visit to the Southeast Asian nation.

Around 100 South Korean firms discussed potential business ties with 200 Vietnamese companies in a wide array of sectors, including smart farming and biotechnology, according to the Ministry of Trade, Industry and Energy.

The ministry said the number of meetings carried out during the event, managed by the state-run Korea Trade-Investment Promotion Agency, reached 400, with their value estimated to reach up to $100 million over the next three years.

The anticipated scale of the deals that can be implemented within a year has been estimated at $40 million, it added.

The industry ministry also hosted a separate event at the venue to introduce South Korea's latest technologies, with participants including Samsung Electronics Co., SK Group and Hyundai Motor Co.

Vietnam was the third largest trade partner for South Korea in 2022, with exports reaching $60.9 billion. (Yonhap)