South Korea, Vietnam Forge Stronger Trade Ties
(MENAFN) South Korean President Lee Jae-myung held talks Monday with Vietnamese leader To Lam, as the two countries pledged to intensify economic and strategic collaboration, including a push to expand bilateral trade to $150 billion by 2030.
The summit, held in Seoul, came during Lam's four-day state visit that began Sunday. Lam serves as General Secretary of the Communist Party of Vietnam Central Committee.
According to the South Korean presidential office, both nations reaffirmed their commitment to leveraging their free trade agreement to meet the trade volume target. Last year, bilateral trade reached $86.7 billion, underscoring the nations’ status as each other's third-largest trading partners.
Roughly 10,000 South Korean firms are currently active in Vietnam, reflecting a robust investment footprint. President Lee requested greater access for South Korean businesses in key Vietnamese infrastructure ventures, including high-speed rail networks, nuclear power facilities, and smart city developments.
President Lee Jae-myung sought stronger backing for South Korean firms aiming to participate in Vietnam’s major infrastructure initiatives, including high-speed rail systems, nuclear energy projects, and smart city developments. In response, Vietnamese leader To Lam committed to exploring concrete avenues for enhanced bilateral cooperation.
Lam emphasized advancing joint efforts in science and technology, particularly in sectors like semiconductors and artificial intelligence. Lee, in turn, aimed to broaden strategic collaboration in key areas such as energy, power grid modernization, and the supply of critical minerals.
Both leaders also pledged to boost cultural and interpersonal exchanges while reinforcing joint action on regional and international matters.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
