First State Visit in 67 Days of New Government, Korea-Vietnam Trade Challenge of 150 Billion Dollars

[Financial News] Tô Lâm, the General Secretary of the Communist Party of Vietnam and the highest leader of Vietnam, visited Korea for the first time in 11 years, marking the first state visit in 67 days since the new government was inaugurated. This state visit is evaluated as an opportunity to elevate Korea-Vietnam relations in all areas of economy, security, and culture.
According to the presidential office on the 11th, the leaders of the two countries will agree to strengthen strategic cooperation in seven areas, including trade and investment expansion, advanced science and technology, energy and supply chain cooperation, support for citizens and businesses, education and cultural exchange, and international cooperation. In particular, they plan to set a joint goal of expanding the trade volume to 150 billion dollars by 2030.
Secretary Tô Lâm led a large economic delegation consisting of ministers from eight ministries, including defense, public security, foreign affairs, and industry, as well as high-level officials from the National Assembly and local governments, and about 140 companies. Various events such as the Korea-Vietnam Business Forum, science and technology cooperation meetings, and cultural industry exchanges are scheduled to be held on this occasion.
During the visit, about ten MOUs are expected to be signed in areas such as science and technology, renewable energy, finance, education, fisheries, and nuclear power workforce development. The foundation for practical economic and cultural cooperation, such as expanding Korean language education in Vietnam, joint renewable energy projects, and support for nuclear power workforce development, is also expected to be strengthened.
At the state dinner to be held at the Blue House, a Korean menu made with specialties from Bonghwa County, a performance by pianist Yiruma, Vietnamese traditional opera, and a children's choir stage will be prepared. In addition, former Vietnam national football team coach Park Hang-seo and Korea-Vietnam multicultural families will also participate to reaffirm their special ties.

west@fnnews.com Sung Seok-woo Reporter