Home IndiaVietnam and South Korea aim to reach a bilateral trade target of US$100 billion by 2026.

Vietnam and South Korea aim to reach a bilateral trade target of US$100 billion by 2026.

by OmarAli
Vietnam and South Korea aim to reach a bilateral trade target of US$100 billion by 2026.

Prime Minister Le Minh Hung and Korean Ambassador to Vietnam Choi Young Sam. (Photo: VGP/Nhat Bac)

At the reception, Prime Minister Le Minh Hung congratulated the Ambassador on his very successful tenure in Vietnam and praised Ambassador Choi Young Sam’s positive contributions to promoting an increasingly deep Vietnam-Korea Comprehensive Strategic Partnership, bringing practical benefits to the people of the two countries.

Referring to the outstanding achievements during Ambassador Choi Young Sam’s tenure in Vietnam, the Prime Minister highlighted that the two sides successfully organized many high-level delegation exchange events at all levels, including the state visit to Korea of ​​Secretary General To Lam in August 2025 (now Secretary General and President) and the state visit to Vietnam of Korean President Lee Jae Myung (April 2026); At the same time, cooperation in the fields of defense, security, local cooperation and people-to-people exchanges between the two countries is increasingly expanding, thereby helping to strengthen political trust between the two countries.

The Prime Minister believes that the strong foundation of relations between the two countries over time will form the basis for further expansion of cooperation in many areas between the two sides in the near future; Invited both sides to continue to facilitate the exchange of delegations at high and all levels; expand defense and security cooperation; Focus on achieving the bilateral trade target of US$100 billion in 2026 and US$150 billion in 2030 in a balanced and sustainable manner; Encourage Korean businesses to continue making new investments and expanding the scale of investment in Vietnam, especially in the fields of high-tech electronic equipment, semiconductors, renewable energy, urban railways and smart cities.

The Prime Minister reiterated that the Vietnamese government will create favorable conditions for foreign enterprises, including Korean ones, to make them feel secure in making stable, long-term investments in Vietnam.

The Prime Minister invited both sides to strengthen cultural cooperation and support Vietnam in developing cultural industries; Expand the scope of people-to-people exchanges by increasing quotas and industries that accept Vietnamese workers that Korea needs, such as information technology, services, nursing, and shipbuilding; Strengthen cooperation between localities, thereby promoting economic development and exchanges between people of the two countries.

Expressing agreement with the guiding views of Prime Minister Le Minh Hung, Ambassador Choi Young Sam affirmed that Korea always values ​​and wishes to promote the development of relations between the two countries so that they develop more actively, especially in new areas where Korea has strengths and Vietnam has needs, such as science and technology, semiconductors, renewable energy, LNG gas and electricity, artificial intelligence, infrastructure; stressed that Korea has always been Vietnam’s reliable partner and comrade in realizing Vietnam’s development goals to 2030 and 2045.

Ambassador Choi Young Sam hopes that the Vietnamese side will continue to pay attention, support and create favorable conditions for Korean businesses and citizens, so that they can feel safe in investing and have a stable and long-term life in Vietnam.

On this occasion, Ambassador Choi Young Sam expressed his sincere gratitude to the leaders of the Party, State, Government and relevant Vietnamese ministries and departments for their interest and support to help the Ambassador successfully complete his term in Vietnam; affirmed that he will continue to make every effort to develop cooperative relations between the two countries, making practical contributions to promoting the Vietnam-Korea Comprehensive Strategic Partnership so that it becomes stronger, more meaningful and comprehensive in the near future.

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