Vietnam and South Korea commit to deepen the Comprehensive Strategic Partnership, aiming for $150 billion in bilateral trade by 2030

On the afternoon of April 22, at the Presidential Palace, after witnessing the signing ceremony of cooperation documents between Vietnam and Korea, General Secretary and State President To Lam and South Korean President Lee Jae Myung met journalists to brief on the outcomes of the talks and the major directions for bilateral relations. The two leaders said the talks were broad and frank, addressing key issues in the bilateral relationship as well as regional and international concerns; they agreed on major directions to elevate the Comprehensive Strategic Partnership to a higher level. The two sides affirmed political trust and strategic cooperation; to implement existing mechanisms and agreements effectively; to expand cooperation in priority areas such as diplomacy, defense, and security; to coordinate addressing non-traditional security challenges and countering transnational crime. They stressed the strategic economic linkage in the new context, committing to facilitate trade, broaden markets for each other’s goods, and strive toward a bilateral trade value of $150 billion by 2030. They also pledged to help Vietnamese enterprises participate more deeply in Korea’s production and distribution supply chains. Vietnam welcomed new Korean investment and expansion in priority sectors such as smart urban infrastructure, semiconductors, large-scale AI data centers, nuclear power, smart ports and next-generation port infrastructure; reaffirming continued improvements to the investment climate to reassure foreign investors to invest long-term. The two sides agreed to use cooperative funding efficiently, focusing on transportation and energy infrastructure, digital infrastructure, and climate-adaptive infrastructure; they also regard science and technology, innovation, and digital transformation as pillars and driving forces of the bilateral relationship. The leaders also agreed to strengthen cultural, educational, and people-to-people exchanges; broaden cooperation at regional and international forums; maintain peace, stability, security, and freedom of navigation and overflight; promote long-term stability in the East Sea and the Korean Peninsula. On this occasion, the two sides signed several cooperation documents covering economics, security, science and technology, culture, health, agriculture and the environment, providing a foundation for continuing deepening of the Vietnam–Korea Comprehensive Strategic Partnership. General Secretary To Lam expressed confidence that with the high political will of the leaders and the consensus of the peoples, the Vietnam–Korea Comprehensive Strategic Partnership will continue to develop more strongly for the benefit of both peoples, contributing positively to peace, stability, cooperation and development in the region and the world.