Vietnam - Korea aim for trade turnover of 150 billion USD

Within the framework of his State visit to South Korea, yesterday (August 12), General Secretary To Lam had many more important activities to promote cooperation between the two countries.

Notably, South Korean President Lee Jae Myung and his wife Kim Hye Kyung invited General Secretary To Lam and his wife Ngo Phuong Ly to enjoy tea at the Blue House.

At the Blue House, the two leaders and their wives spent time enjoying traditional art performances from Vietnam and Korea. In a warm and intimate atmosphere, the two leaders and their wives shared their feelings of not only meeting each other as representatives of their two countries, but also meeting each other through culture and through close and subtle spiritual values.

President of the Republic of Korea Lee Jae Myung and his wife, General Secretary To Lam and his wife believe that the deep empathy between the two cultures, the understanding and mutual respect between the two peoples are the solid foundation for the people of the two countries to become increasingly closer and more attached to each other.

South Korean President Lee Jae Myung and First Lady Kim Hye Kyung welcomed General Secretary To Lam and First Lady Ngo Phuong Ly to a tea party and traditional art performance.

PHOTO: VNA

Effective implementation of cooperation mechanisms

On the afternoon of August 12, in Seoul, General Secretary To Lam met with Chairman of the National Assembly of the Republic of Korea Woo Won Sik.

At the meeting, in the spirit of the Comprehensive Strategic Partnership, the two leaders highly appreciated the good cooperation results between the two countries' National Assemblies; agreed to promote the role of the two countries' legislative bodies in coordinating, supporting and urging ministries, branches and localities to implement cooperation agreements signed between the two governments; and promote the connection between the two economies to develop substantially, effectively and comprehensively.

General Secretary To Lam meets with Speaker of the National Assembly of the Republic of Korea Woo Won Sik

PHOTO: VNA

General Secretary To Lam suggested that the two sides closely cooperate to effectively implement bilateral and multilateral cooperation mechanisms such as continuing to further open the door for Vietnam's key export goods to the Korean market, thereby soon completing the goal of increasing bilateral trade turnover to 150 billion USD by 2030; promoting labor cooperation and training of high-quality human resources; paying attention to and creating favorable conditions for the Vietnamese community to integrate, live, study and work in Korea; especially creating conditions for Vietnamese expatriates to become members of the Korean National Assembly in the near future.

During the meeting, the two sides also discussed regional and international issues of mutual concern and supported each other at multilateral mechanisms and forums, including the Inter-Parliamentary Union (IPU), the Asian Parliamentary Alliance for Peace (AAPP); and agreed to strengthen cooperation between political parties in Asia. The two leaders shared a common vision on ensuring security, safety, freedom of navigation and aviation in the East Sea; maintaining a peaceful, stable environment, legal order, and resolving maritime disputes by peaceful means, ensuring the legitimate rights and interests of countries in accordance with international law and the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Together with Vietnam, creating the "Red River miracle"

On the morning of August 12, in Seoul, the Vietnamese Ministry of Finance, the Korean Ministry of Trade, Industry and Energy (MOTIE), the Korean Chamber of Commerce and Industry (KCCI), and the Vietnamese Embassy in Korea organized the Vietnam - Korea Economic Forum with the theme "Cooperation to develop production chains in the new era!". The forum was attended by General Secretary To Lam, Korean Prime Minister Kim Min Seok, along with senior representatives of the two countries and more than 400 leading enterprises with more than 500 delegates from the two countries.

Speaking at the forum, South Korean Prime Minister Kim Min Seok emphasized that the two countries have long been close, connected and increasingly trusting of each other. South Korea is the largest investor in Vietnam, becoming an inseparable economic partner in many fields. Prime Minister Kim Min Seok said that South Korea and Vietnam need to continue to strengthen their long-term and stronger relationship. The two countries need to expand cooperation from traditional sectors to new, advanced sectors and move towards a multi-layered cooperative relationship.

Prime Minister Kim Min Seok affirmed that Korea is ready to cooperate with Vietnam to diversify supply sources and ensure energy security. The memorandums of understanding signed during this visit will be a solid foundation for expanding cooperation between the two countries in the future.

Korean Prime Minister Kim Min Seok expressed his belief that with a young workforce, an attractive investment environment, an existing trade network and development orientations in the new period, Vietnam will achieve its development goals and become a high-income country. Korea wishes to expand comprehensive cooperation with Vietnam and with its experience in creating the "Miracle on the Han River", it will always be a "firm companion" to create a "Miracle on the Red River" with Vietnam; he suggested that both sides increase support and create favorable conditions for businesses of both countries to operate and hoped that businesses of both countries would continue to be the pioneers in economic cooperation.

Unlocking Resources

Speaking at the forum, General Secretary To Lam shared that Vietnam's socio-economic situation in 2024 and the first 6 months of 2025 achieved many positive results; emphasizing that 2025 is not only a year of "acceleration and breakthrough" to complete the development goals of the 2021 - 2025 period, but also plays a pivotal role, creating an important foundation and strong driving force to successfully implement the 2 100-year goals, bringing the country into a new era - an era of striving, developing wealth, civilization and prosperity of the nation.

The General Secretary said that Vietnam is continuing to perfect its institutions, improve the investment and business environment, remove "bottlenecks" to unlock resources, promote economic restructuring associated with growth model innovation, taking science and technology, innovation and Vietnamese cultural values as the core driving force for development. Regarding cooperation and attracting foreign investment, Vietnam has shifted from the mindset of "attracting in breadth" to "attracting in depth" selectively, prioritizing projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spillover effects, connecting global production and supply chains.

The General Secretary requested that Vietnamese ministries, branches and localities increase dialogue to remove difficulties and obstacles for Korean investors in Vietnam; continue to review and reform administrative procedures; cut and simplify administrative procedures; increase the application of digital technology, enhance decentralization, reduce compliance costs and input costs for people and businesses; prepare conditions to attract investment such as transport infrastructure, human resources, power supply, clean land funds, establish interdisciplinary working groups to remove difficulties and obstacles and support investors, etc.

In the coming time, the General Secretary hopes that Korean enterprises and corporations will continue to invest and expand their investment in Vietnam, especially in areas where Korea has strengths and Vietnam has great potential such as clean and green energy, heavy industries such as electronics, automobiles, shipbuilding, chemicals, steel, strategic materials, semiconductor technology, artificial intelligence (AI), blockchain, high-quality service industries in healthcare, education, urban development, especially green and smart urban areas, etc.

Also at the forum, General Secretary To Lam and South Korean Prime Minister Kim Min Seok, along with high-ranking delegates from the two countries, witnessed the signing ceremony of cooperation agreements between Vietnam and South Korea.

On the afternoon of August 12, General Secretary To Lam and the Vietnamese high-ranking delegation met with a number of leaders, chairmen and general directors of leading Korean corporations that have, are and plan to invest in Vietnam such as: Posco, Hyundai Motor, GS, HD Hyundai, Hyosung, Samsung Electronics, LG Display, Daewoo E&C, Lotte...

In addition, on the same day, August 12, in Seoul, the Ministry of Science and Technology, the Ministry of Foreign Affairs, the Vietnamese Embassy in Korea in coordination with the Ministry of Science, Information and Communications of Korea organized a seminar on Vietnam - Korea science and technology. Attending the seminar were General Secretary To Lam and the high-ranking delegation of Vietnam, along with many scientists, managers and business leaders of the two countries.

General Secretary To Lam, South Korean Prime Minister Kim Min Seok and senior leaders of the two countries at the signing ceremony of a memorandum of understanding between Vinpearl and South Korean enterprises.

PHOTO: Contributor

Vinpearl signs cooperation with 3 Korean tourism "giants"

Within the framework of the Vietnam - Korea Business Forum held yesterday (August 12), under the witness of General Secretary To Lam, Korean Prime Minister Kim Min Seok and senior officials representing the two countries, Vinpearl Joint Stock Company signed a Memorandum of Understanding (MoU) with three leading Korean partners: Hanatour, Marketing Highlands and HKG Company Limited (formerly Hank Golf).

In order to realize the goal of welcoming 5 million Korean visitors in 2025, the parties will closely coordinate in introducing Vietnamese destinations, while increasing the attraction to make Vinpearl the top choice of Korean tourists.

At the same time, Vinpearl and its partners will increase promotion, connection and expansion of product distribution network in the Korean market, contributing to ensuring a stable source of customers and sustainable growth.

The signing of this strategic cooperation agreement not only strengthens the long-term relationship between Vietnamese enterprises and partners, but also expands the ecosystem of high-class products and develops new products and new destinations of Vinpearl to more than 7,500 retail travel agents in Korea. At the same time, it brings opportunities for more than 46,000 golf members to experience and compete at Vinpearl's international standard golf course system across Vietnam.

Ms. Ngo Thi Huong, Deputy General Director of Sales & Marketing of Vinpearl Joint Stock Company, shared: "We believe that the resonance between Vinpearl's infrastructure, services and classy experiences with the prestigious and widespread distribution network of partners will create different and attractive tourism products, maintaining Vietnam's position as the priority choice of Korean tourists."

Ha Khanh

Thanhnien.vn

Source: https://thanhnien.vn/viet-nam-han-quoc-huong-den-kim-ngach-thuong-mai-150-ti-usd-185250812234304421.htm