Vietnam And South Korea Strengthen Strategic Partnership

On April 16, 2025, Vietnamese Prime Minister Pham Minh Chinh met with South Korean Foreign Minister Cho Tae-yul during his official visit to Vietnam. The meeting comes as part of Cho's attendance at the 4th Summit Conference of the Partnering for Green Growth and Global Goals (P4G), which is taking place from April 15 to April 17, 2025.

During the discussions, both leaders expressed their satisfaction with the strengthening of the "comprehensive strategic partnership" between Vietnam and South Korea, which has been growing robustly across various sectors. They acknowledged the close cooperation between their foreign ministries, particularly through the regular annual ministerial dialogues aimed at reviewing the implementation of the action program for their strategic partnership.

Vietnam and South Korea have set ambitious economic goals, with both sides agreeing to strive to achieve a bilateral trade turnover of 150 billion USD by 2030. This target reflects a commitment to balanced and sustainable trade relations, facilitating greater access for each country's goods to the other's markets.

Deputy Prime Minister and Foreign Minister Bui Thanh Son underscored Vietnam's encouragement for South Korean businesses to invest in the country. He highlighted priority sectors such as infrastructure development, high-tech electronic equipment production, semiconductors, renewable energy, and smart city initiatives. This push for investment comes as Vietnam seeks to enhance its economic landscape and technological capabilities.

In response, Foreign Minister Cho Tae-yul expressed gratitude for the Vietnamese government's support in creating a favorable investment environment for South Korean companies. He noted that the success of Vietnam's economic development is also perceived as a success for South Korea, indicating a mutual interest in fostering economic growth.

The ministers also discussed specific areas for further collaboration, including science and technology, labor, healthcare, culture, education, and people-to-people exchanges. Bui Thanh Son proposed that South Korea increase quotas and expand the range of industries open to receiving Vietnamese workers, which would help facilitate labor mobility and enhance cooperation.

Moreover, the two sides agreed to promote digital transformation, research and development, and training for Vietnam's workforce, ensuring that the partnership continues to evolve in line with global trends.

On the multilateral front, both parties committed to working closely together and supporting each other in addressing international and regional issues of mutual concern, such as their cooperation within the United Nations, ASEAN-South Korea relations, and the Mekong-South Korea framework.

Bui Thanh Son expressed appreciation for the support from the South Korean government and foreign ministry in helping Vietnam host the P4G summit, which aims to advance global goals for sustainable growth. He also highlighted ongoing collaboration to successfully organize the APEC 2025 summit in South Korea and the APEC 2027 summit in Vietnam.

This meeting marks a significant step in enhancing the bilateral relations between Vietnam and South Korea, showcasing their commitment to mutual growth and cooperation on various fronts. As both nations continue to navigate the complexities of global trade and development, the partnership is poised to play a crucial role in their respective futures.