Leaders of Vietnam and South Korea have agreed that amid supply chain instability caused by factors such as the situation in the Middle East, the two countries need to maintain close cooperation on energy security and supply chain stability. The two countries also agreed to strengthen cooperation in nuclear energy and high-tech fields.
On the 22nd, General Secretary of the Communist Party and President of Vietnam, To Lam, held talks with visiting South Korean President Lee Jae-myung, and together witnessed the signing of 12 memoranda of understanding on cooperation by representatives from both countries, covering areas such as nuclear energy, artificial intelligence (AI), food, pharmaceuticals, and security cooperation.
During the meeting, To Lam stated that Lee Jae-myung's visit demonstrates the high level of political trust between Vietnam and South Korea. He said: “Vietnam welcomes Korean enterprises to make new investments in Vietnam and expand existing projects, with a focus on the development of areas such as infrastructure, smart cities, semiconductors, AI data centers, nuclear power, and smart ports.”
To Lam and Lee Jae-myung held a joint press conference after the talks. Lee Jae-myung said that based on a solid relationship of mutual trust, the two countries have decided to deepen strategic cooperation in fields such as energy and infrastructure.
He pointed out that the two leaders also agreed to expand investment cooperation, striving to increase the bilateral trade volume between the two countries to 150 billion USD (593.114 billion Ringgit) by 2030.
Lee Jae-myung, accompanied by his wife, arrived in Hanoi on the afternoon of the 21st at To Lam’s invitation to begin a four-day state visit to Vietnam.
To Lam was the first foreign head of state to visit South Korea after Lee Jae-myung took office as president in August last year; Lee Jae-myung is also the first foreign leader to visit Vietnam since the formation of the new Vietnamese leadership in January this year.