Vietnam and South Korea Forge New Path in Partnership

Vietnam and South Korea are embarking on a journey towards a more profound and strategic partnership. During a pivotal roundtable in Hanoi, leaders from both nations underscored their commitment to broadening cooperation beyond traditional trade and investment. Key stakeholders including Le Minh Hung and Lee Jae Myung emphasized the significance of establishing a future-proof partnership.

This gathering, part of the Vietnam-Korea Economic Forum, attracted representatives from various ministries and top corporations, with major players like Samsung Electronics, LG Corp, and Hyundai Motor Group showing their strong interest and commitment.

Over 34 years, economic collaboration has become a vital element of Vietnam-South Korea relations, with South Korea now being Vietnam's leading investor, contributing nearly US$98.9 billion across more than 10,000 projects. Additionally, it stands as one of Vietnam’s key partners in trade, tourism, and development support.

Prime Minister Le Minh Hung remarked on the evolution of this relationship into a comprehensive, strategic framework, highlighting Vietnam's dedication to innovation, digital transformation, and high-value industries as crucial engines for future growth, along with necessary institutional reforms and infrastructure initiatives.

He urged South Korean firms to channel investments into cutting-edge sectors like semiconductors, artificial intelligence, and clean energy. The necessity of bolstering technology transfer and collaborative research was underscored to ensure deeper integration into global value chains.

President Lee Jae Myung emphasized the need for a stable and resilient cooperation framework in light of global economic uncertainties. He pointed out that the combination of Vietnam's manufacturing capabilities and South Korea's advanced technologies could generate a potent synergy for future industrial development.

Both leaders expressed optimism about reaching a target of US$150 billion in bilateral trade by 2030, while also reinforcing the necessity of enhancing collaboration across manufacturing, infrastructure, and energy sectors, particularly with respect to modernized power systems that can foster sustainable growth long-term.