S. Korea, Vietnam presidents meet to discuss enhancing bilateral trade ties

(MENAFN) In Seoul on Monday, South Korean President Lee Jae-myung held a summit with Vietnamese leader To Lam during Lam’s four-day state visit to South Korea. Lee, who assumed office in June, welcomed To Lam, the general secretary of the Communist Party of Vietnam Central Committee, to discuss strengthening bilateral relations.

Both leaders committed to intensifying efforts to increase their countries’ trade volume to 150 billion U.S. dollars by 2030, leveraging their existing bilateral free trade agreement. Last year, trade between South Korea and Vietnam reached 86.7 billion dollars, with approximately 10,000 South Korean companies operating in Vietnam.

President Lee sought backing for South Korean firms involved in Vietnam’s major infrastructure projects, including high-speed rail, nuclear power, and new city developments. In response, To Lam promised to explore concrete avenues for collaboration.

The Vietnamese leader also expressed a desire to enhance partnerships in areas like semiconductors and artificial intelligence, while Lee emphasized expanding strategic cooperation in fields such as science and technology, energy, power grids, and essential minerals.

MENAFN11082025000045017281ID1109910946