The assistance is part of South Korea's $270 million official direct assistance pledged for Vietnam in 2010.
The sum will be allocated to fund three projects in Vietnam for upgrading the water supply system in Buon Ho Commune, in Central Highlands Dak Lak Province, building an electronic solid waste treatment management system and studying the public transportation system in Ho Chi Minh City.
The donor is also considering aiding the construction of a dam system on the Len River in north central Thanh Hoa Province.
Ambassador Im said 2010 would be a year of strategic cooperation between Vietnam and South Korea.
The two sides would boost bilateral trade ties to aim for the target of raising the two-way trade turnover to $20 billion in 2015 from the last year's figure of $9.8 billion.
Vietnam was listed in this year's top ten list of countries worst affected by extreme weather, according a report from the climate and development organization Germanwatch released early this month.
The Southeast Asian nation is also regarded as one of the 11 most vulnerable countries in the world to climate change because of its long low-lying coastline and exposure to typhoons, storms, heavy and variable rainfall.
It is estimated that sea levels may rise by 33 centimeters by 2050 and up to 1 meter by 2100.
A recent study estimated a one meter rise in the sea level would affect approximately 11 percent of the population, flood seven percent of the nation's agriculture land and wipe 10 percent off gross domestic product.