Korea-Vietnam Foreign Ministers Dialogue... "Close Communication" on US Tariff Response

Cho Tae-yul, Minister of Foreign Affairs, who is on an official visit to Vietnam, has agreed to maintain close communication with Vietnam regarding the issue of the United States' high reciprocal tariffs.

On the 15th (local time), Foreign Minister Cho Tae-yeol and Vietnamese Deputy Prime Minister and Foreign Minister Bui Thanh Son held the 2nd Foreign Ministers' Dialogue in Hanoi and took a commemorative photo. Ministry of Foreign Affairs

According to the Ministry of Foreign Affairs on the 16th, Minister Cho held the 2nd Foreign Ministers' Dialogue and working dinner with Bui Thanh Son, Deputy Prime Minister and Minister of Foreign Affairs of Vietnam, in Hanoi the previous day (local time), discussing this matter as well as ways to develop bilateral relations, the North Korean issue, and regional and international situations.

Korea and Vietnam are each other's top three trading partners. In particular, Korea is Vietnam's number one investor. The two countries aim to achieve a trade volume of $150 billion by 2030. Given the close economic ties between the two countries, they plan to continue communication regarding the issue of the United States imposing reciprocal tariffs.

Through this Foreign Ministers' Dialogue, the two ministers reaffirmed their strong will to develop a comprehensive strategic partnership between the two countries and agreed to strengthen cooperation in various fields including ▲ diplomacy and security ▲ trade and investment ▲ strategic cooperation related to nuclear power, high-speed rail, and large-scale infrastructure ▲ science and technology ▲ consular and human exchanges.

Minister Cho stated, "About 10,000 Korean companies operating in Vietnam are actively contributing to job creation and industrial advancement within Vietnam," and requested "cooperation to resolve difficulties such as labor, residence permits, and licensing issues so that our companies can continue to operate smoothly in Vietnam."

Minister Son said, "Vietnam places great importance on the activities and expansion of Korean companies, and in this regard, in March this year, under the chairmanship of the Vietnamese Prime Minister and with the attendance of ministers from related departments, a meeting with Korean companies was held to continuously address their difficulties," and the Ministry of Foreign Affairs reported that he pledged to actively cooperate in resolving the difficulties mentioned by Minister Cho.

Meanwhile, regarding the North Korean issue, Minister Cho expressed concern over the "illegal military cooperation between Russia and North Korea" and emphasized that North Korea should not receive compensation in the peace negotiations for the Ukraine war.

This visit by Minister Cho to Vietnam was made upon Minister Son's invitation and marks a bilateral visit after about two years and six months since October 2022. In May of last year, Minister Son visited Korea and held the 1st Foreign Ministers' Dialogue, making this visit a reciprocal one.