South Korean Minister of Trade Ahn Dukgeun plans to expand trade with Vietnam via major infrastructure projects and a sustainable supply chain. Speaking at the South Korea and Vietnam Business Forum in Seoul, Ahn highlighted the 32-year relationship between the two nations and their growing friendship.
Ambitious Trade Goals
Ahn called for collaboration on large infrastructure projects and the establishment of a sustainable supply chain to boost bilateral trade from $76 billion last year to $100 billion by 2025 and $150 billion by 2030. He emphasizes Vietnam’s rare earth resources and South Korea’s advanced manufacturing technology as complementary strengths that could boost mining and production capabilities.
Climate and Energy Ties
Vietnam was the first country with which South Korea established an international climate pact. Ahn suggested that South Korea could share its expertise in operating nuclear power plants to aid in developing Vietnam’s energy sector.
Commitment to Korea Investors
Prime Minister Pham Minh Chinh stressed the maturity of bilateral relations in the economy, culture, and people-to-people exchanges. He assured that Vietnam offers political stability, a favorable business environment, and fair treatment for South Korean investors. Chinh urged South Korea to increase technology transfer to help Vietnam integrate more deeply into the global supply chain and governance structures.
Investment Opportunities
Chinh invited South Korean companies to invest in various sectors in Vietnam, including the digital economy, green economy, circular economy, knowledge economy, sharing economy, semiconductors, artificial intelligence, and entertainment.
Business Forum and Official Visit
The Vietnam – South Korea Business Forum was organized by South Korea’s Ministry of Trade, Industry, and Energy, the Korea Chamber of Commerce and Industry, Vietnam’s Ministry of Planning and Investment, the Embassy of Vietnam in South Korea, and the Military Commercial Joint Stock Bank.
Chinh and his wife are visiting South Korea from June 30 to July 3, at the invitation of Prime Minister Han Duck-soo. Chinh has more than 30 events lined up during the visit, with a focus on economic issues, highlighting the importance of economic ties between Vietnam and South Korea.
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