Vietnam signed a free trade agreement (FTA) with South Korea which is expected to boost bilateral annual trade to US$70 billion by 2020, more than doubling the US$29 billion two-way trade in 2014, reported Reuters on May 5. In addition to goods and services, the FTA also covers customs, trade protection, and technical barriers. The agreement is expected to increase imports of materials and electronic components from South Korea, benefiting Korean firms operating in Vietnam, including Samsung and LG. So far, South Korea is the biggest investor in Vietnam, spending around US$38 billion on more than 4,200 projects.