Korea Post, the nation’s postal service, said Tuesday that it signed a memorandum of understanding with Vietnam Post, the state-run postal service of the Southeast Asian nation, aiming to foster collaboration between the two organizations.

Under the deal, the two postal services pledged to cooperate on information technology sharing for postal services and promote money transfer services for the public from both nations.

They also will run educational and exchange programs for officials at the postal services.

Participating at a meeting with Pham Anh Tuan, president and CEO of Vietnam Post, Korea Post president Kim Joon-ho introduced Korea’s advanced postal services that utilize IT.

“Vietnam is Korea’s 11th-largest state partner in terms of exchange of postal matters,” said Kim. “I hope our contract today can help Korean postal firms with excellent IT to get a foothold in the Vietnamese market.”

Korea Post said it hopes that the MOU with its Vietnamese counterpart will serve as an opportunity for Korea’s advanced technology for postal services to be introduced in the fast-growing Southeast Asian nation, which plans to modernize its postal system.

Vietnam’s economy ranked 42nd in the world and sixth in Southeast Asia, according to a report by the World Bank last July.

By Kim Young-won (wone0102@heraldcorp.com)