At the event, Vietnamese Minister of Industry and Trade Nguyen Hong Dien, who was accompanying Party General Secretary To Lam on a state visit to the RoK, called on the RoK enterprises, with their extensive capacity and experience, to continue investing in and developing renewable energy and new energy such as hydrogen, and nuclear power in Vietnam.

In response, RoK Minister of Trade, Industry and Energy Kim Jung-kwan affirmed that the RoK possesses the necessary experience and conditions to cooperate with Vietnam, highlighting three key factors namely technology, capital, and human resources training.

Building on the close, comprehensive, and long-term relationship between the two countries, he stressed that the RoK is ready to accompany Vietnam in successfully developing its nuclear power programme.

The two sides signed and exchanged a cooperation document on training and developing human resources for nuclear power development.

Dien emphasised that bilateral economic and trade relations are developing strongly, reflecting the comprehensive strategic partnership between the two countries. The RoK is currently Vietnam’s largest investor and its third largest trading partner. Given the results and potential of such cooperation, the Minister expressed confidence that the two countries would achieve the target of US$150 billion in bilateral trade by 2030.

To realize this goal, the two ministers agreed to mobilise all resources to promote the implementation of the Action Plan to meet the target of raising bilateral trade turnover to US$150 billion in a more balanced manner by 2030 signed in April 2025.

Under this action plan, the two sides will strengthen cooperation and support connections between Vietnamese and Korean business communities; promote market access for agricultural products from both countries; and increase information exchange on trade remedies, food safety, and quarantine regulations.

They will enhance cooperation in logistics and build logistics centres to improve supply chain connectivity, shorten delivery times, reduce transportation costs, and facilitate faster goods circulation between the two countries.

In industry, they will support each other in providing and training high-quality human resources in shipbuilding; continue to support enterprise technology cooperation for the supply chain of essential minerals to ensure stable and sustainable supply for emerging industries such as battery manufacturing, renewable energy, electric vehicles, and high technology.

During the meeting, the two ministers also witnessed the signing of a document on a technology cooperation centre for the supply chain of essential minerals in Vietnam between the Korea Institute for Advancement of Technology and the Institute of Mining, Metallurgy and Science and Technology under Vietnam’s Ministry of Industry and Trade.

The RoK’s nuclear power programme began in the 1960s and entered large-scale commercial electricity production in 1978. Today, it operates 25 nuclear power plants and has 3 more under construction, making it one of the countries with the highest number of nuclear power plants globally.

According to its development plan, by 2030 the share of nuclear power, new energy, and renewable energy in the country’s power mix will reach 31.8% and 21.6% respectively. By 2038, nuclear power will account for 35.6%, new and renewable energy for 32.9%, and hydrogen and ammonia for an additional 5.5%.

Vietnam, RoK keen to boost market access toward US$150 billion trade target by 2030

VOV.VN - Both nations have agreed to further facilitate trade and open markets for each other’s goods, while supporting Vietnamese businesses in deepening their integration into global supply chains of the Republic of Korea, with the goal of reaching a bilateral trade turnover of US$150 billion by 2030.