Hanoi (VNA) – The state visit to the Republic of Korea (RoK) by General Secretary of the Communist Party of Vietnam To Lam and his spouse from August 10-13 will contribute to further strengthening political trust, while marking an important milestone, opening a new chapter for the two countries’ relationship, according to RoK President Lee Jae Myung.
Ahead of the visit, the President granted an interview to the Vietnam News Agency's correspondent in Seoul on the significance of the visit, the potential for bilateral collaboration, and his country’s policy priorities in its partnership with Vietnam.
The Vietnam News Agency would like to introduce a translation of this interview’s full text.
Reporter: Vietnam and the Republic of Korea have established a Comprehensive Strategic Partnership in 2022. Could you please tell us what the upcoming visit to the Republic of Korea by General Secretary of the Communist Party of Vietnam To Lam means for the present and future of the bilateral relationship?
President Lee Jae Myung: General Secretary To Lam's visit to the Republic of Korea is the first event to welcome a foreign head of state and also the first state visit hosted by our people-led government. This shows that the RoK attaches great importance to its relations with Vietnam and is a testament to my personal and my country's strong determination to develop the "Comprehensive Strategic Partnership" between the two countries towards the future.
The relationship between the Republic of Korea and Vietnam is much closer than the geographical distance. Since the establishment of diplomatic relations in 1992, our two countries have continuously developed a close and mutually beneficial partnership in many areas, including politics, economy, culture and people-to-people exchanges.
In terms of economy, Vietnam is the RoK's third largest trading partner and biggest development cooperation partner. With about 10,000 Korean enterprises operating in Vietnam, the country has become the largest investor in Vietnam.
Moreover, the friendship between our two peoples is profound and strong, far beyond what can be expressed by economic indicators alone. With more than 5 million mutual visits every year, we can see the level of lively exchanges between the two peoples, thus creating a solid foundation of trust and friendship.
I myself feel very proud to have contributed, even if only in a small way, to expanding the trust and friendship between the people of the two countries. When I was Mayor of Seongnam city, I signed an agreement on a sister city relationship between Seongnam and Thanh Hoa province of Vietnam, and actively promoted international exchanges and official development assistance (ODA) projects.
Immediately after taking office as President, I had a phone call with the State President of Vietnam, expressing my determination for cooperation, and also promoted the sending of a special envoy to Vietnam.
Therefore, this state visit by the General Secretary of the Communist Party of Vietnam has a special meaning for me. I believe that it will contribute to further consolidating the political trust between the two countries, and at the same time mark an important milestone, opening a new chapter for the RoK-Vietnam relationship.
The bilateral relationship will be not only stop at trade and investment cooperation as it is now, but will reach out to collaboration in future strategic areas such as national infrastructure, science and technology, and human resources training.
Going beyond the framework of economic cooperation, our two countries are also "comprehensive partners" looking towards the future in the international arena. First of all, from the perspective of peace on the Korean Peninsula, cooperation between the two countries is extremely necessary because peace and denuclearisation on the Korean Peninsula are no longer a particular issue of the region. Vietnam is an indispensable and essential partner in the process of transforming inter-Korean relations towards reconciliation and cooperation. I hope that the two countries will work together for world peace and stability.
In addition, the RoK and Vietnam also share the common point of hosting the APEC Summit in 2025 and 2027, respectively. I hope that the two countries will continue to share experiences and actively cooperate not only within the framework of APEC but also at many other multilateral forums.
Reporter: Could you please tell us about the policy priorities of the Korean Government in cooperation with Vietnam?
President Lee Jae Myung: As the global economic and trade environment becomes increasingly unstable, it is necessary to further expand and develop economic cooperation between the two countries.
The economic partnership that the RoK and Vietnam have built over the past time is a vivid example showing that countries can absolutely create common interests in international relations.
We will work together to achieve the shared goal of increasing bilateral trade to 150 billion USD by 2030. We will work closely to ensure that this ambitious goal is not simply about increasing two-way trade but also about contributing to the sustainable growth of both countries.
As I mentioned earlier, we look forward to expanding the scope of cooperation between the two countries to strategic and future-oriented areas. I understand that Vietnam, under the leadership of Party General Secretary To Lam, is pursuing the national vision of "becoming an upper-middle-income country by 2030" and "becoming a high-income country by 2045". I expect that in this development process, the Republic of Korea will be a reliable partner accompanying Vietnam. Sectors such as nuclear power, high-speed rail and infrastructure, as well as advanced science and technology industries will play a key role in realising Vietnam's national vision.
We hope to find effective cooperation methods in the field of infrastructure, share experiences in technology research and development through organisations such as the Vietnam-Korea Institute of Science and Technology (VKIST), and promote the training of excellent human resources, thereby contributing to the common prosperity of both countries.
People-to-people and cultural exchanges are the solid foundation for deepening the bilateral relationship. The Korean Government will continue to pay attention to and actively support the large number of Vietnamese people living and working here to settle down as part of the Korean society.
We will also promote cooperation in the fields of tourism and cultural industries between the two countries. With the Korean content industry (K-content) having been affirmed in the global market, cultural cooperation between our two countries will not only be about sharing each other's beauty but also creating mutually beneficial opportunities for both.
Reporter: Economic cooperation has always been a highlight in the bilateral relations over the past more than 30 years. Could you please assess the potential for bilateral collaboration in this important field?
President Lee Jae Myung: Over the past more than 30 years, the RoK and Vietnam have been each other's key economic partners, and I believe that in the future, Vietnam will continue to be one of the RoK's most important economic partners.
Last year, bilateral trade reached 86.7 billion USD, and direct investment from Korean enterprises in Vietnam reached up to 7 billion USD. Vietnam is currently the largest recipient of investment from the RoK in ASEAN, while the RoK is the largest investor in Vietnam.
The above achievement figures have clearly demonstrated the potential for economic cooperation between the two countries. Now, it is time to enhance the quality of collaboration through future industries such as artificial intelligence (AI), high technology, services and digital content.
From the perspective of the Republic of Korea, Vietnam is a country with full potential to become a centre of new growth industries with advantages such as young and talented human resources; attractive investment environment; and effective multi-layered trade network.
If more than 10,000 Korean enterprises operating in Vietnam continue to promote their potential based on these strengths, I am confident that Vietnam and the Republic of Korea will continue to consolidate their position as each other's most reliable partners in the field of economic cooperation.
Reporter: Vietnam and the RoK have joined bilateral and multilateral economic cooperation mechanisms such as the Vietnam – Korea Free Trade Agreement (VKFTA), the ASEAN – Korea Free Trade Agreement (AKFTA), and the Regional Comprehensive Economic Partnership (RCEP) agreement. In your opinion, how can the two countries leverage these mechanisms to enhance the effectiveness of cooperation and minimise the impact of recent global trade tensions?
President Lee Jae Myung: The fruitful achievements that the RoK and Vietnam have made together clearly demonstrate that a free trade order can benefit both sides. The multi-layered FTA network the two countries have built serves as a solid foundation for economic growth. In fact, compared to 2006 - before the AKFTA SEAN–Korea Free Trade Agreement came into effect - trade between Vietnam and the RoK by 2024 increased nearly 18-fold, while investment more than doubled.
The impact of FTAs goes beyond boosting trade. By expanding economic cooperation, the two countries have been able to work more closely in addressing global challenges such as digital transformation and climate change - issues that are difficult for any single nation to tackle alone.
Over time, this cooperation has created a positive cycle in which joint efforts to address global issues have, in turn, helped broaden and deepen bilateral economic ties.
That’s why the VKFTA, marking its 10th year in effect this year, stands as a symbolic achievement in the shared journey toward a free and fair trade order.
I hope that the history of economic cooperation between the RoK and Vietnam will continue to serve as a vital foundation for the recovery and advancement of a global order rooted in free and mutually beneficial trade in the future.
Reporter: People-to-people diplomacy is considered a strong bridge in the Vietnam – RoK relations. Currently, around 300,000 citizens from each country are living, studying, and working in the other. How do you assess the role and contributions of the Vietnamese community in the RoK, and what policies has the RoK government implemented to promote human resources exchange between the two countries in the coming time?
President Lee Jae Myung: Have you ever heard the joke that Da Nang is like Gyeonggi province of the RoK? A large number of Koreans travel to Vietnam’s Da Nang for vacation, so many so that people often joke it’s hard to tell whether you’re in the RoK or Vietnam.
People-to-people exchanges are so vibrant that stories like this have become common. Beyond short-term travel, the two countries now have around 100,000 Korean –Vietnamese multicultural families, meaning the two nations are connected like “two in-laws” through bonds of marriage.
Travelers who love the two countries, the 100,000 multicultural families, and Vietnamese workers contributing to the RoK’s economic development form a strong bridge connecting the two countries. They are reliable “people’s diplomats” who actively promote the development of bilateral relations.
That’s why, at a recent cabinet meeting, I instructed the development of support policies for Vietnamese workers in the RoK. We will continue seeking measures to ensure that more Vietnamese labourers can work in safe and healthy environments. In addition, the Korean government will not overlook the necessary support to ensure stable living conditions and welfare for the multicultural families.
Drawing from my experience as former Mayor of Seongnam city, I fully understand the importance of expanding cooperation between local governments in promoting bilateral relations. We will enhance exchanges and collaboration at the local level, broaden opportunities for businesses and people from both countries to connect, and intensify consular cooperation to further deepen people-to-people ties.
The achievements of Coach Park Hang Seo have not only brought pride to the Vietnamese people, but have also been celebrated by Koreans as if cheering for their own national team. Most recently, I was delighted to hear that Coach Kim Sang Sik led the Vietnamese national team to its third consecutive Southeast Asian championship. This is truly a shared joy for both our nations. I consider these successes as outstanding examples of vibrant people-to-people exchange between the two countries. We will actively support efforts so that the results of cooperation and exchange between the two countries will increasingly spread and shine across various fields.
Reporter: Thank you so much!
