Hanoi (VNA) - It's time for Vietnam and the Republic of Korea (RoK) to elevate bilateral cooperation to a new level, from investment partners to partners in shaping the future together, Vietnamese Prime Minister Le Minh Hung has said.
PM Hung made the suggestion while joining Korean President Lee Jae Myung at a roundtable on Vietnam–RoK economic, trade and investment cooperation, which formed part of the Vietnam-RoK Economic Forum in Hanoi on April 23.
The event gathered leaders from 26 leading Vietnamese and Korean corporations spanning sectors such as energy, finance, technology, electronics, telecommunications, manufacturing, construction, infrastructure, trade, tourism and aviation, including Samsung Electronics, LG Corp, Lotte Group and Hyundai Motor Group.
After 34 years of diplomatic ties, economic and trade cooperation remains a pillar of the bilateral relations and stands out as a bright spot in Vietnam’s global economic integration. The RoK is currently Vietnam’s biggest foreign investor, its second-largest source of tourists and ODA provider, and its third-largest trading partner and labour market. Two-way trade reached 89.5 billion USD in 2025, while cumulative Korean investment hit 98.9 billion USD in 10,447 projects as of March 2026.
Speaking at the roundtable, PM Hung urged businesses from both countries to engage in open dialogue, table practical proposals, and work closely with authorities to address bottlenecks and unlock new areas of collaboration.
He highlighted that Vietnam is entering a new development phase centred on rapid and sustainable growth, underpinned by science and technology, innovation and digital transformation. The country is advancing three strategic breakthroughs , namely institutional reform, infrastructure and human resources, while transitioning its growth model toward higher value-added production and innovation. In this context, the private sector plays a central role, with international partnerships, particularly with the RoK, seen as vital to driving breakthroughs.
The PM noted that the bilateral ties have evolved beyond trade and investment into a comprehensive strategic partnership, with both countries increasingly co-shaping regional and global value chains. The PM called on Korean enterprises to expand high-quality investment in areas such as high technology, semiconductors, artificial intelligence and clean energy, while boosting technology transfer, developing R&D ecosystems in Vietnam, and strengthening linkages with local firms to enhance competitiveness and deepen global integration.
He reaffirmed the Vietnamese Government’s commitment to further improve institutions, accelerate legal and administrative reforms, and create a transparent, stable and predictable investment environment grounded in long-term mutual benefit and sustainable development.
President Lee, for his part, pointed to rising global economic uncertainties, stressing that closer Vietnam–RoK cooperation is more critical than ever. He expressed confidence that the two countries are well-matched partners capable of taking a leading role in global value chains.
Highlighting Vietnam’s position as a global manufacturing hub with strong production capacity and abundant resources, the President said combining these strengths with the RoK’s advanced industrial technologies would help both sides navigate challenges and jointly build a future-oriented industrial ecosystem, generating new growth momentum.
With bilateral trade targeted to reach 150 billion USD by 2030, President Lee called for deeper collaboration in manufacturing and expansion into advanced sectors such as semiconductors and electric vehicles. He also underscored the need to strengthen supply chain connectivity in strategic resources, including rare earths and urea.
The Korean leader further stressed the importance of building a resilient framework for cooperation to safeguard both economies against external shocks, alongside developing high-efficiency energy infrastructure such as LNG and nuclear power, and expanding broader infrastructure cooperation.
He noted that business leaders at the roundtable will play a pivotal role in shaping the future of both economies, expressing his hope that enterprises from both countries will actively share expertise and drive a new phase of cooperation./.
