Party Secretary To Lam: "Welcoming Joint Entry into Third Markets"
84 MOUs Signed Between Companies and Institutions of Both Countries
Cooperation Expands to Digital, High-Tech Industries, and Energy
Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry, and To Lam, Vietnam Party Secretary, expressed their intention to open a new chapter in economic cooperation between the two countries. Both nations agreed to strengthen their strategic partnership and establish a joint response system in future growth sectors such as digital and high-tech industries, supply chains, and energy.
The Korea Chamber of Commerce and Industry, together with the Ministry of Trade, Industry and Energy, the Embassy of Vietnam in Korea, and the Ministry of Finance of Vietnam, held the "Korea-Vietnam Business Forum" on the 12th at the Lotte Hotel in Jung-gu, Seoul. This event was organized to coincide with the first visit to Korea in 11 years by Vietnam's top leader, the Party Secretary.
The event was attended by Prime Minister Kim Minseok and Party Secretary To Lam. Chairman Choi Taewon and Nguyen Van Tang, Vietnam's Minister of Finance, each delivered opening and congratulatory remarks, urging active exchange and cooperation among business leaders from both countries.
Chairman Choi stated, "Korea and Vietnam are facing common challenges, including the spread of protectionism and geopolitical conflicts. We must overcome these crises by strengthening solidarity with reliable partners and maximizing synergies in digital and high-tech industries, supply chains, and energy sectors."
The Korea Chamber of Commerce and Industry held the "Korea-Vietnam Business Forum" on the 12th at the Lotte Hotel in Sogong-dong. Prime Minister Kim Minseok, Korea Chamber of Commerce and Industry Chairman Choi Taewon, and Vietnam Party Secretary To Lam are taking a commemorative photo with key attendees. From the left: Nguyen Van Tang, Member of the Central Committee of the Communist Party of Vietnam and Minister of Finance; Nguyen Van Hung, Member of the Central Committee of the Communist Party of Vietnam and Minister of Culture, Sports and Tourism; Choi Youngsam, Ambassador of the Republic of Korea to Vietnam; Min Ki, Chief Secretary to the Prime Minister; Lee Hohyun, 2nd Vice Minister of the Ministry of Industry and Trade; Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry; Kim Minseok, Prime Minister; To Lam, Vietnam Party Secretary; Phan Van Giang, Minister of National Defense of Vietnam; Le Hai Trung, Secretary of the Central Committee of the Communist Party of Vietnam; Phu Thitang Sen, Deputy Prime Minister and Minister of Foreign Affairs of Vietnam; Le Ming Hwan, Member of the Central Committee of the Communist Party of Vietnam and Vice Chairman of the National Assembly; Nguyen Hong Dien, Member of the Central Committee of the Communist Party of Vietnam and Minister of Industry and Trade. Korea Chamber of Commerce and Industry
Minister Nguyen emphasized, "The two countries are strategic partners with similar cultures. The Vietnamese government welcomes Korean companies entering Vietnam and third markets together, and will spare no support for large-scale cooperation projects."
On the Korean side, the forum was attended by over 300 business leaders, including Park Seunghee, President of Samsung Electronics; Chu Hyungwook, CEO of SK Innovation; Hyun Singyun, President of LG CNS; and Jung Junho, CEO of Lotte Shopping. Moon Sinhak, First Vice Minister of the Ministry of Trade, Industry and Energy, and Choi Youngsam, Ambassador to Vietnam, were also present. On the Vietnamese side, more than 200 participants joined, including Bui Thanh Son, Deputy Prime Minister and Minister of Foreign Affairs; Nguyen Hong Dien, Minister of Industry and Trade; Le Manh Hung, Chairman of PetroVietnam; and Dao Duc Thang, Chairman of Viettel.
During the presentation session, Chu Hyungwook introduced plans for eco-friendly energy supply through the construction of LNG power infrastructure and the utilization of renewable energy. Kim Sungjun, CEO of HD Hyundai Heavy Industries, proposed expanding facility investments to advance Vietnam's shipbuilding industry. On the Vietnamese side, Chairman Le Manh Hung presented on energy cooperation, while Tran Ba Duong, Chairman of Truong Hai Auto Group (THACO), discussed strategies for upgrading supply chains.
On this day, companies and institutions from both countries signed a total of 84 memorandums of understanding across diverse fields, including energy, shipbuilding, aviation, artificial intelligence, advanced materials, and drones. Forty-seven companies and institutions from Korea, including SK Innovation E&S, Hyosung Heavy Industries, KT, KEPCO KDN, and the Korea Tourism Organization, participated, along with 37 companies and institutions from Vietnam.
Yoon Cheolmin, Head of International Trade at the Korea Chamber of Commerce and Industry, stated, "Vietnam is a key partner for ASEAN cooperation. To achieve $150 billion in trade volume by 2030, we need a strategy to expand the scope of cooperation from traditional manufacturing to digital and high-tech industries."
Since the establishment of diplomatic relations in 1992, bilateral trade volume has increased more than 173-fold, from $500 million to $86.7 billion last year. Vietnam has been one of Korea's top three trading partners for three consecutive years, while Korea is the largest investor in Vietnam, with cumulative investments reaching $92.5 billion. Currently, about 10,000 Korean companies are operating in Vietnam.
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