Minister Cho Hyun Says Korea Will Strengthen Supply Chain and Energy Cooperation with Vietnam, Aiming for $150 Billion in Trade Within Four Years

[The Financial News] Foreign Minister Cho Hyun has pledged to strengthen cooperation with Vietnam in supply chains, energy, and human resources.
According to the Ministry of Foreign Affairs of the Republic of Korea on the 21st, Cho said in an interview with local media while accompanying President Lee Jae Myung on his visit to Vietnam that Korea was actively working toward the goal of reaching $150 billion in bilateral trade by 2030.
 He also said practical support measures would be prepared to further boost exchanges between the two peoples and deepen mutual trust and ties as the two countries enter an era of 5 million mutual visitors a year.
Cho said, "About 10,000 Korean companies, including major conglomerates such as Samsung Group and LG Group, are currently operating in Vietnam and are actively contributing to the country's industrialization and economic development. Through this state visit, the two countries will further develop such supply chain cooperation in a more closely connected and advanced direction."
He also pledged to deepen cooperation in strategic areas such as energy, infrastructure, science and technology, and innovation. Cho explained, "The two governments are currently working to achieve concrete results and build a future-oriented foundation for cooperation across key sectors, including nuclear power plants, power infrastructure, critical raw materials, science and technology, digital industries, agriculture and food, and the environment."
He also said talent development is an essential investment to keep pace with the expanding industrial cooperation between the two countries. This year, Korea will expand programs to strengthen foundational technical skills among young people in Vietnam in fields such as automobiles, shipbuilding, and electrical and electronics, while continuing to foster advanced degree holders and other specialists in future technologies such as Artificial Intelligence (AI), advanced manufacturing, and environmental and energy sectors.
He said that during President Lee Jae Myung's state visit, unprecedented multilateral cooperation involving not only intergovernmental agreements but also private companies and public institutions would take shape.
At the Business Forum, a large number of corporate contracts are expected to be signed, creating tangible business opportunities. In addition, specialized cooperation in areas such as intellectual property, healthcare, the environment, culture, and digital transformation will proceed simultaneously across society.
Cho said, "The two countries will make every effort to review follow-up measures from all angles so that all agreements reached this time can be implemented swiftly."

rainman@fnnews.com Kim Kyung-soo Reporter