During his state visit to Korea in mid-August, General Secretary of the Communist Party of Vietnam To Lam met with leaders of leading Korean corporations.
At the meeting, representatives of Korean enterprises shared a new cooperation model on enhancing technology transfer, supporting small and medium enterprises in the supply chain, as well as training high-tech human resources in the fields of semiconductors, AI, and blockchain technology.
Korean enterprises are also interested in cooperating in developing strategic infrastructure such as liquefied natural gas (LNG), high-speed railways, new energy, and promoting the application of biotechnology in green production, circular economy and emission reduction.
Representatives of Posco, Samsung Electronics, LG Display, and Lotte also shared investment cooperation results, along with investment and business plans in the fields of industry, energy, services, and infrastructure in Vietnam. Korean businessmen pledge to promote projects on energy, nuclear power, and commercial centers.
General Secretary To Lam highly appreciated the sincere cooperation, strategic vision, and strong belief in the prospects of developing Vietnam-Korea relations of Korean businesses.
Vietnam is facing opportunities to develop the country, implementing many policies such as streamlining the apparatus, reducing administrative procedures, removing institutional obstacles, and creating a favorable business environment for people and businesses. Along with that, many strategic infrastructures are being focused on investment by various resources such as the transportation system, energy, finance, banking, and digital financial markets.
The General Secretary hopes that Korean businesses will continue to cooperate in investment and business, as well as to expand the market in Vietnam. He affirmed that Vietnam is ready to be an important gateway for Korean enterprises to participate in the Southeast Asian market, and that he welcomes corporations with experience and advanced technology to participate more deeply in the process of energy transition and national infrastructure modernization.
Vietnam always supports and accompanies Korean enterprises, fosters trust, overcomes challenges, shares development achievements and together creates a new era of Vietnam-Korea cooperation.
Korea and Vietnam established diplomatic relations in 1992 and are currently major trade partners of each other. The two countries set a target of bilateral trade turnover reaching 150 billion USD towards balance by 2030.