HCMC – Vietnam’s Party General Secretary To Lam met South Korean Prime Minister Kim Min Seok on August 11, seeking greater support to help Vietnamese companies integrate into the supply chains of South Korean corporations.
The meeting, held during Lam’s state visit to South Korea, marked his first engagement with the country’s new administration. Seok said the visit underscored Seoul’s priority in strengthening bilateral ties and provided new momentum for the comprehensive strategic partnership between the two nations.
Both leaders noted that economic cooperation remains a highlight of the bilateral relationship. South Korea is Vietnam’s largest foreign investor with US$87 billion in total direct investment, the second-largest provider of official development assistance (US$4 billion planned for 2025-2030), and the third-largest trading partner with two-way trade reaching US$81.5 billion.
The two sides reaffirmed their goal of achieving US$150 billion in bilateral trade by 2030 through a joint action plan focused on balanced growth. Lam urged South Korea to ease market access for Vietnamese goods, expand e-commerce cooperation, and support capacity-building for Vietnamese firms to join global supply chains. He also called for more Korean investment in infrastructure, high-tech electronics, semiconductors, artificial intelligence, renewable energy, smart cities, and industrial clusters linked to technology transfer and workforce training.
Seok expressed interest in South Korean participation in Vietnam’s major projects, including nuclear power, energy and digital infrastructure, climate-resilient facilities, and high-speed rail. He said South Korea would increase grant aid, particularly in research, development, and innovation.
Lam proposed making science, technology, digital transformation, and skilled workforce training new pillars of bilateral cooperation. He suggested joint development in strategic sectors such as telecommunications, biotechnology, climate technology, nanotechnology, and clean energy, along with expanded collaboration in artificial intelligence and digital innovation policies.
Both sides welcomed the renewal of the labor cooperation agreement and discussed increasing labor quotas and broadening sectors for Vietnamese workers in South Korea. Lam thanked Seoul for supporting the Vietnamese community and proposed simplifying visa procedures, moving toward visa-free entry to boost tourism and exchanges.
Seok said the South Korean government is considering easing visa rules and enhancing support for foreign spouses, including Vietnamese citizens, to help them settle and integrate into Korean society.
