"Expanding the Horizon of Cooperation in Advanced and Scientific Technologies"
"Overseas Nationals as Bridges for Bilateral Development"
President Lee Jae Myung and General Secretary To Lam of the Vietnam Party are holding a joint Korea-Vietnam press conference at the Yongsan Presidential Office Building in Seoul on the 11th. Photo by Yonhap News
President Lee Jae Myung held a summit meeting with To Lam, General Secretary of the Communist Party of Vietnam, on the 11th and declared, "Marking the 10th anniversary of the Korea-Vietnam Free Trade Agreement (FTA) coming into effect this year, both countries have agreed to further strengthen efforts to achieve the goal of expanding bilateral trade volume to $150 billion by 2030."
At the Yongsan Presidential Office on this day, President Lee made this announcement during a joint press conference after adopting a "Joint Statement on Advancing the Comprehensive Strategic Partnership between the Two Countries" with General Secretary To Lam, who has been on a state visit to Korea since the 10th. The joint statement was finalized during back-to-back small-group and expanded summit meetings between President Lee and General Secretary To Lam. The two leaders also exchanged 10 memoranda of understanding (MOUs) to enhance bilateral cooperation.
President Lee stated, "Both countries share the view that the approximately 10,000 Korean companies operating in Vietnam are contributing to Vietnam's economic development and to mutually beneficial cooperation between the two countries," emphasizing that he "requested continued attention to ensure stable business activities for Korean companies in Vietnam."
President Lee went on to say, "Both countries have also agreed to strengthen cooperation in large-scale infrastructure sectors with significant strategic importance, such as nuclear power plants, high-speed railways, and new city development." He added, "I mentioned that major national projects in Vietnam, such as the construction of new nuclear power plants and the North-South high-speed railway, are important for ensuring stable power supply and building a modernized transportation and logistics system."
"Expanding the Horizon of Cooperation in Advanced and Scientific Technologies"
President Lee Jae Myung is shaking hands with General Secretary To Lam of the Vietnam Party ahead of the expanded Korea-Vietnam summit held on the 11th at the Yongsan Presidential Office building in Seoul. Photo by Yonhap News
In particular, regarding the MOU on nuclear power, President Lee assessed, "This will lay the foundation for cooperation between companies from both countries in the vital area of training personnel for Vietnam's nuclear power industry, and it will serve as an opportunity for the two countries to expand cooperation into various nuclear power sectors in the future."
President Lee also reported, "General Secretary To Lam said he is well aware of the outstanding competitiveness of Korean companies and that he would actively consider Korea's participation."
Furthermore, President Lee said, "Both countries have agreed to broaden the scope of cooperation into future-oriented fields such as advanced and scientific technologies, renewable energy, and critical minerals." He continued, "We will further strengthen the capabilities of the Korea-Vietnam Institute of Science and Technology, a symbol of scientific and technological cooperation between the two countries, and actively pursue joint research in cutting-edge fields such as artificial intelligence (AI), biotechnology, and energy."
Additionally, President Lee stated that the two countries will seek cooperation in fostering scientific and technological talent, promoting talent exchanges, expanding solar and wind power, enhancing power grids, developing smart grids, and in critical mineral sectors such as rare earth elements.
"Overseas Nationals as Bridges for Bilateral Development"
President Lee Jae Myung is giving a salute at the official welcoming ceremony for the state visit of the General Secretary of the Vietnamese Communist Party held on the 11th at the Yongsan Presidential Office building in Seoul. Photo by Yonhap News
Discussions were also held on strengthening people-to-people and cultural exchanges and cooperation. President Lee said, "Both countries agreed that overseas nationals and multicultural families residing in each other's countries play an important bridging role in the development of bilateral relations," and introduced that "the two sides will seek concrete measures to ensure the stable stay and welfare of these groups."
Meanwhile, President Lee stated, "We have agreed to continue close cooperation for substantive progress toward peace on the Korean Peninsula and resolution of the North Korean nuclear issue." He explained, "I outlined our government's vision for building a Korean Peninsula where the South and North coexist and prosper based on solid peace, and I requested special support and cooperation from General Secretary To Lam and the Vietnamese side so that these efforts can bear fruit."
President Lee added, "General Secretary To Lam expressed his support and welcome for our government's efforts to resume dialogue and cooperation between the South and North, and stated his intention to actively contribute to peace and stability on the Korean Peninsula."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
