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At the round-table on Vietnam–Korea economic and investment cooperation held on April 23, 2026, Sun Group’s leadership and other private-sector leaders highlighted the growing role of Vietnamese private enterprises in shaping future-oriented partnerships. Vietnam–Korea trade has expanded for more than three decades, rising from a 1992 bilateral relationship with trade in the hundreds of millions of USD to 89.5 billion USD in 2025. In Q1 2026 alone, bilateral trade reached 26.9 billion USD.
Prime Minister Le Minh Hung said the cooperation should shift from an “investment partner” relationship to becoming a “co-creator of the future.” Korean President Lee Jae Myung described Vietnam as a global manufacturing hub with abundant resources, adding that combining Vietnam’s strengths with Korea’s advanced industrial technology can help both countries weather crises and strengthen the future industrial ecosystem.
The round-table discussed the goal of 150 billion USD in bilateral trade by 2030, described as 500% higher than the 2025 target. Organizers said the target is not only a sales figure but a strategic commitment to complete the future industrial ecosystem between the two countries.
The event also framed the roles of each side’s business champions. It noted that Korea’s “quad” chaebol—Samsung, SK, Hyundai, and LG—represents the backbone of its economy, while Vietnam’s “leading captains,” including Sun Group, FPT, and key state-owned corporations, are expected to serve as counterweights.
Speaking as a representative of Vietnam’s private sector, Dang Minh Truong, Chairman of Sun Group, said the timing is “ripe” to elevate Vietnam–Korea cooperation from market-based relations to a long-term strategic partnership. Sun Group proposed five concrete pillars for cooperation with Korean partners.
Sun Group is developing an integrated retail ecosystem at destinations, including shopping centers, outlets, and duty-free stores at airports and in city centers. Phu Quoc is identified as a focal point for deploying these models, with the aim of becoming an international tourism and services hub and creating opportunities for Korean brands and operators.
Sun Group is building a multi-segment lodging system nationwide, with emphasis on Phu Quoc, which will host the 2027 APEC summit.
Sun Group said it wants to co-produce content, develop entertainment products, and build theme parks and a creative cultural ecosystem with Korean partners.
Sun Group also called for cooperation with Korean partners on strategic investments and connecting long-term capital.
In discussions on the cultural industry, the Korean president cited Vietnamese audiences’ reception of Blackpink in Hanoi and noted that pho has become a national dish for both countries. The article also said that in 2025, around 5 million people from both countries traveled to visit each other, and that Koreans have shown strong affinity for Da Nang.
The article pointed to Vietnam’s trade deficit with Korea as a key challenge. It cited a deficit of 31.6 billion USD in 2025 and 10.6 billion USD in Q1 2026, saying that strengthening endogenous capacity is therefore a critical priority.
It added that the government expects capable, mission-driven enterprises to move beyond outsourcing toward in-house innovation and technology mastery. The text referenced Resolution 68-NQ/TW, which positions the private sector as the most important driver of the national economy and a pioneer in innovation.
Over nearly two decades, Sun Group said it has contributed to building the cultural industry and transforming regions. Its ecosystem includes tourism, entertainment, high-end real estate, infrastructure, aviation, finance and banking, and healthcare. The article said Sun Group has been recognized as a leading travel-construction force in Asia by the World Travel Awards.
It also cited visitor figures as evidence of demand from Korea. In 2025, Sun Group destinations welcomed about 1.9 million Korean visitors, described as the largest share of international visitors. In the first three months of 2026, the number approached 600,000 and continued to rise versus the same period the previous year.
With APEC 2027 approaching in Phu Quoc, the article said a private group is investing to upgrade the APEC conference center and the international airport to meet international standards (4E ICAO). The investment capital was stated as 22,000 billion dong, with the aim of serving up to 20 million visitors annually from 2027.
The article concluded that the “historic handshake” between leaders of the two countries will depend on joint support from capable, purpose-driven private enterprises. It described Sun Group as both a representative of Vietnam’s private economy and a bridge to advance Vietnam–Korea relations toward the 150 billion USD trade target.
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