At the invitation of President of the Republic of Korea Lee Jae Myung, General Secretary of the Central Committee of the Communist Party of Vietnam To Lam and his wife will pay a state visit to the Republic of Korea from August 10-13.
South Korean President Lee Jae Myung was interviewed about the significance of his visit, the potential for bilateral cooperation, and the policy priorities of the Korean Government in cooperation with Vietnam.
Vietnam and the Republic of Korea 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 relations between the two countries?
President Lee Jae Myung: General Secretary To Lam’s visit to Korea is the first event to welcome a foreign head of state and also the first state visit organized by our people-led government. This shows that Korea attaches great importance to its relations with Vietnam and is a testament to my personal and the Korean Government’s strong determination to develop the “Comprehensive Strategic Partnership” between the two countries towards the future.
The relationship between Korea and Vietnam is much closer than the usual geographical distance. Since the establishment of diplomatic relations in 1992, our two countries have continuously developed a close and mutually beneficial partnership in many fields, including politics, economy, culture and people-to-people exchanges.
Economically, Vietnam is Korea's third largest trading partner and largest development cooperation partner. With about 10,000 Korean enterprises operating in Vietnam, Korea has become the largest investor in Vietnam.
Moreover, the friendship between our two peoples is deep and strong, far beyond what can be expressed by economic indicators alone. With more than 5 million mutual visits each year, we can see the lively level of exchanges between our peoples, thereby 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 our two countries. When I was Mayor of Seongnam City, I signed a sister city agreement between Seongnam City and Thanh Hoa Province of Vietnam, and actively promoted international exchange activities and official development assistance (ODA) projects.
Immediately after taking office as President, I had a phone call with the President of Vietnam, expressing my determination to cooperate, and also promoting the sending of a special envoy to Vietnam.
Therefore, this State visit by the General Secretary of the Communist Party of Vietnam holds special significance for me. I believe that this visit will contribute to further strengthening the political trust between the two countries, and at the same time mark an important milestone, opening a new chapter in the Korea-Vietnam relationship.
Korea-Vietnam relations will not only stop at trade and investment cooperation as at present, but will reach out to cooperation in future strategic areas such as national infrastructure, science and technology, and human resource training.
Beyond the framework of economic cooperation, our two countries are also “comprehensive partners” looking towards the future on the international stage. First of all, from the perspective of peace on the Korean Peninsula, cooperation between the two countries is extremely necessary because peace and denuclearization on the Korean Peninsula are no longer a regional issue. 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, Korea and Vietnam also have in common the fact that they will co-host the APEC Summit in 2025 and 2027. I hope that the two countries will continue to share experiences and actively cooperate not only within the framework of APEC but also in many other multilateral forums.
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 uncertain, it is even more important to emphasize the need to further expand and develop economic cooperation between the two countries.
The economic partnership that Korea and Vietnam have built over the past years is a vivid example showing that countries can absolutely create common interests in international relations.
We will work together to achieve the common goal of increasing bilateral trade to US$150 billion by 2030. We will work closely to ensure that this ambitious goal is not simply about increasing trade but also contributes to sustainable growth in both countries.
As I mentioned earlier, we look forward to expanding the scope of our cooperation to strategic and future-oriented areas. I understand that Vietnam, under the leadership of Your Excellency the General Secretary, is pursuing its national vision of “becoming an upper-middle-income country by 2030” and “becoming a high-income country by 2045.”
I expect that Korea will be a reliable partner accompanying Vietnam in that development process. Areas such as nuclear power, high-speed rail and infrastructure, as well as advanced science and technology industries will play a key role in realizing Vietnam's national vision.
We hope to find effective cooperation in the field of infrastructure, share research and technology development experiences through organizations 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 relationship between the two countries. The Korean government will continue to pay attention and actively support the large number of Vietnamese people living and working in Korea to settle down as part of Korean society.
We will also promote cooperation in the fields of tourism and cultural industry 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 Korea and Vietnam.
Economic relations have always been a highlight in bilateral cooperation between Vietnam and Korea over the past 30 years. Could you please assess the potential for cooperation between the two countries in this important field?
President Lee Jae Myung: Over the past 30 years, Korea and Vietnam have been each other's key economic partners, and I believe that in the future, Vietnam will continue to be one of Korea's most important economic partners.
Last year, bilateral trade turnover between the two countries reached 86.7 billion USD, with direct investment from Korean enterprises in Vietnam reaching 7 billion USD.
Vietnam is currently the largest recipient of investment from Korea in ASEAN, while Korea is the largest investor in Vietnam.
The above achievements clearly demonstrate the potential for economic cooperation between the two countries. Now, it is time to enhance the quality of cooperation through future industries such as AI, high technology, services and digital content.
From the perspective of Korea, Vietnam is a country with full potential to become the center of new growth industries with advantages such as: Young and talented human resources; Attractive investment environment; Effective multi-layered trade network.
If the more than 10,000 Korean enterprises operating in Vietnam continue to develop their potential based on these strengths, I firmly believe that Vietnam and Korea will continue to strengthen their position as each other's most reliable partners in the field of economic cooperation.
Vietnam and Korea have participated in bilateral and multilateral economic cooperation mechanisms such as the Vietnam-Korea Free Trade Agreement (VKFTA), the ASEAN-Korea Trade in Goods Agreement (AKFTA) and the Regional Comprehensive Economic Partnership Agreement (RCEP). In your opinion, how can the two countries exploit these mechanisms to improve the effectiveness of cooperation and minimize the impact of recent world trade tensions?
President Lee Jae-myung: The brilliant achievements that Korea and Vietnam have made together are clear evidence that a free trade order can benefit both sides. The multi-layered FTA network that the two countries have built together has become a solid foundation for economic growth. In fact, compared to 2006 - before the Korea-ASEAN Free Trade Agreement (Korea-ASEAN FTA) took effect - the trade volume between the two countries by 2024 has increased about 18 times and investment has also more than doubled.
The impact of FTAs goes beyond trade. By expanding economic cooperation, the two countries have been able to work more closely together to address global issues such as digital transformation and climate change – challenges that are difficult to address by any single country.
This cooperation, over time, has created a positive cycle where joint action to address global issues further expands bilateral economic cooperation in both breadth and depth.
Therefore, the Vietnam-Korea FTA, which marks 10 years of effectiveness this year, is a symbolic achievement for the common journey towards a free and fair trade order.
I hope that the history of economic cooperation that Korea and Vietnam have built together will continue to serve as an important foundation for restoring and developing a world order based on free trade and mutual benefit in the future.
People-to-people diplomacy is considered a solid bridge for the Vietnam-Korea relationship. Currently, there are about 300,000 Vietnamese citizens from each country living, studying and working in the other country. Could you please tell us your assessment of the role and contributions of the Vietnamese community in Korea and the Korean Government's policy to promote human resource exchange between the two countries in the coming time?
President Lee Jae Myung: Have Vietnamese people ever heard that Da Nang is in Gyeonggi Province? Many of us Koreans come to Da Nang, Vietnam for vacation. That's why people often joke that they can't tell whether this is Korea or Vietnam.
People-to-people exchanges between the two countries are so vibrant that there are such funny stories. Not only are there short-term trips, there are currently about 100,000 Korean-Vietnamese multicultural families between the two countries. This means that the two countries are considered “two in-laws” thanks to marriage relationships.
Tourists who love the two countries, 100,000 multicultural families, along with Vietnamese workers who contribute to the economic development of Korea are the solid bridge connecting Korea and Vietnam, and are trustworthy "people's diplomats" promoting the development of relations between the two countries.
Therefore, at the recent government meeting, I directed the introduction of support policies for Vietnamese workers in Korea. We will continue to seek measures so that more Vietnamese workers can work in a safe and healthy environment in Korea. Not only that, the Korean government will not forget to provide necessary support to ensure stable residence conditions and welfare for multicultural families.
From my experience as Mayor of Seongnam City, I understand very well the importance of expanding cooperation between local governments in promoting bilateral relations. We will strengthen exchanges and cooperation between local governments, expand opportunities for contact between businesses and people of both countries, and strengthen cooperation in the consular field to deepen people-to-people exchanges.
Witnessing the achievements of Coach Park Hang Seo, not only Vietnamese people but also Korean people are happy and cheer like their own team.
Most recently, I also heard the good news that Coach Kim Sang-sik and the U23 Vietnam team won the Southeast Asian Championship for the third consecutive time. This is truly a shared joy for us. I consider this an excellent and typical result of the vibrant people-to-people exchanges between the two countries. We will actively support so that the results of cooperation and exchange between the two countries will increasingly spread and shine in many different fields.
According to VNA
Source: https://vietnamnet.vn/tong-thong-han-quoc-chuyen-tham-cua-tong-bi-thu-mo-ra-chuong-moi-quan-he-2-nuoc-2429646.html
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