Deputy PM Phoc noted that Vietnam and the RoK are enjoying the most robust period of their relations since the establishment of diplomatic ties. The RoK is Vietnam’s largest foreign investor with accumulated FDI of US$87 billion, while two-way trade has reached US$81.5 billion. People-to-people exchanges are also vibrant, with some 350,000 Vietnamese living in the RoK and over 200,000 Koreans in Vietnam.

Highlighting Vietnam’s socio-economic goals, he reaffirmed the country’s resolve to enter a new development stage, targeting double-digit growth and becoming a high-income developed nation by 2045. To achieve this, Vietnam will accelerate transport infrastructure development, shift to a growth model driven by science, technology, digital transformation and innovation, promote clean and green energy, and establish its financial centre in Ho Chi Minh City and Da Nang. He expressed his hope for close cooperation with the RoK in implementing these strategic objectives.

Deputy PM Phoc welcomed Korean cooperation in fields such as ODA for supported infrastructure development, vocational training, and digital assets. He pledged Vietnam’s full support and best conditions for Korean enterprises operating in the country, in line with legal regulations and international practices.

Ambassador Choi highlighted the strong momentum of bilateral relations, recalling the successful state visit to the RoK by Party General Secretary To Lam.

He said the RoK stands ready to share experience in financial centre development and operation, digital assets and capital markets, and is committed to supporting Vietnam’s upgrade of its securities market to emerging status.

He emphasised that the RoK remains Vietnam’s leading FDI investor and that investment flows are expected to grow further, particularly in infrastructure.

Representatives of KORCHAM and Korean enterprises expressed pride in the nearly 10,000 Korean firms already operating in Vietnam, contributing significantly to the economy. They voiced interest in expanding cooperation in energy, infrastructure, digital transformation, and semiconductor, while raising issues such as global minimum tax implementation, high-tech legislation, and policies for establishing the international financial centre in Vietnam.

Deputy PM Phoc affirmed the Vietnamese Government’s strong support for Korean investors, stressing that obstacles should be addressed promptly and through frank dialogue to ensure effective and sustainable cooperation.

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.