Viet Nam, South Korea strive for US$150 billion trade turnover by 2030
VGP - Viet Nam and South Korea agreed to double effort to raise bilateral trade to US$150 billion by 2030 in a balanced and sustainable manner.
Deputy Prime Minister, Minister of Foreign Affairs Bui Thanh Son and Korean Foreign Minister Cho Tae-yul, Ha Noi, April 15, 2025 - Photo: VGP/Hai Minh
The agreement was reached during talks held in Ha Noi on April 15 between Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son and Korean Foreign Minister Cho Tae-yul, who is on an official visit to Viet Nam for the fourth Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.
Deputy Prime Minister Bui Thanh Son welcomed Foreign Minister Cho Tae-yul on his first official visit to Viet Nam, which is expected to spur the substantive development of the Comprehensive Strategic Partnership between the two countries.
Bui suggested that South Korea increase quotas and expand the field of occupations for Vietnamese workers, spur cooperation in digital transformation, research and development, and human resources training, and continue simplifying visa procedures for Vietnamese citizens.
Both sides applauded the close coordination between their foreign ministries in recent years, particularly the regular maintenance of the annual foreign ministers’ dialogue mechanism to review the implementation of the Action Program for the Viet Nam–South Korea Comprehensive Strategic Partnership.
Bui affirmed that Viet Nam always encourages Korean businesses to invest in new projects and expand existing operations in the country, with priority given to infrastructure development, high-tech electronics manufacturing, semiconductors, renewable energy, and smart cities.
Cho thanked the Vietnamese Government for consistently supporting Korean enterprises and creating favorable conditions for their long-term investment in Viet Nam.
The two sides agreed to further enhance cooperation in science and technology, labor, health, culture, education, and people-to-people exchanges; maintain close coordination and mutual support in addressing international and regional issues of shared interest, including at the United Nations, ASEAN–South Korea, and Mekong–South Korea cooperation mechanisms.
On this occasion, the Deputy Prime Minister thanked the Korean Government and Ministry of Foreign Affairs for actively supporting Viet Nam in hosting the P4G Summit. He also sought cooperation to successfully organize the Asia-Pacific Economic Cooperation (APEC) events in the RoK this year and APEC activities in Viet Nam in 2027./.
