The assessment was shared by Prime Minister Le Minh Hung of Vietnam and RoK President Lee Jae-myung during their meeting in Hanoi on April 23.

The meeting took place as both countries seek to elevate cooperation in a more substantive direction, focusing on strengthening economic, technological, and supply chain linkages, with an emphasis on co-creating value.

The two leaders agreed that Vietnam and the RoK possess strong foundations to expand cooperation in long-term strategic sectors, particularly innovation, digital transformation, energy, and high-tech industries.

Vietnam is accelerating institutional reforms, enhancing growth quality, and developing its digital economy to deepen its role in global value chains. Meanwhile, the RoK, with its strengths in technology, research and development, and a robust innovation ecosystem, is seen as a key partner in this process. Major Korean conglomerates continue to expand their presence in Vietnam, not only in manufacturing but also in high-tech sectors and strategic infrastructure.

Prime Minister Hung proposed that both sides further consolidate political trust by expanding practical cooperation in defence, security, and diplomacy, while enhancing the effectiveness of existing bilateral cooperation mechanisms to build a solid political foundation for broader collaboration across all fields.

Regarding economic, trade, and investment cooperation, the Prime Minister stressed the need to deepen economic linkages with a focus on innovation and improving the quality of cooperation. He called on both sides to coordinate in implementing key tasks under the action plan aimed at raising bilateral trade to US$150 billion by 2030 in a more balanced manner. To meet the target, he said, more drastic measures should be taken, including continuing to open markets for each other’s goods.

Prime Minister Hung also urged the RoK to support increased localisation and greater participation of Vietnamese enterprises in Korean production and supply chains, adopt policies to facilitate Vietnamese businesses investing and operating in the RoK, and share experience in financial innovation, banking inspection and supervision, as well as in the development and operation of an international financial centre in Vietnam.

Prime Minister Hung further proposed enhancing cooperation in science and technology, innovation, and digital transformation; strengthening strategic alignment in ensuring sustainable energy security; and expanding collaboration in human resources, culture, and tourism, alongside promoting stronger people-to-people exchanges.

He called on the RoK to continue supporting the Vietnamese community living, studying, and working in the country, and to simplify visa procedures to further boost people-to-people exchanges.

For his part, President Lee welcomed his host’s proposals, and said both countries are well-positioned to shape a new strategic vision for cooperation, create opportunities for shared development, and move toward a sustainable and prosperous future.

He affirmed that the RoK stands ready to accompany Vietnam on its path to achieving its development goals, including becoming a developing country with modern industry by 2030 and a high-income developed country by 2045.

Both sides expressed satisfaction with the strong progress in bilateral relations over nearly 35 years since diplomatic ties were established, with the RoK now one of Vietnam’s leading trade and investment partners, supported by an extensive network of businesses operating in the country.

On this occasion, Prime Minister Le Minh Hung conveyed his greetings and extended an invitation to RoK Prime Minister Kim Min-seok to visit Vietnam in the near future.

President Lee Jae-myung is in Hanoi on a four-day state visit to Vietnam at the invitation of Party General Secretary and President To Lam.

Vietnam and RoK foster cooperation to attract high-tech investment

VOV.VN - A forum on international investment opportunities for technology enterprises and innovative startups was held in Seoul on April 23, drawing strong participation from investment funds, businesses and industry associations from the Republic of Korea (RoK).