Korean President arrives in Vietnam for state visit

President of the Republic of Korea Lee Jae Myung and his spouse arrived in Hanoi in the afternoon of April 21, beginning a State visit to Vietnam from April 21 to 24 at the invitation of General Secretary of the Central Committee of the Communist Party of Vietnam and President To Lam and his spouse.

Discussing the key focus of the visit and the long-term orientation of Vietnam-South Korea relations, the Vietnamese Ambassador to South Korea, Vu Ho, stated that the central theme of the visit is to transform the scale of existing cooperation into greater depth and higher quality. On this basis, both sides are focusing on defining a long-term strategic vision for the 2030–2045 period, aligning with each country’s development strategies amidst the intensive restructuring of the global economy.

A major priority of the visit is the restructuring of economic cooperation drivers, said the Ambassador.

The two nations aim to transition from a cooperation model heavily reliant on capital and labor to one based on technology, innovation, and digital transformation. Priority will be given to sectors such as semiconductors, artificial intelligence, and high-tech industries, which are considered key for Vietnam to participate more deeply in high-value-added stages of global value chains.

Assessing the prospects for future cooperation, Mr. Ho expressed a very positive outlook. South Korea is currently the largest foreign investor in Vietnam, with cumulative registered capital of approximately $85–90 billion. It also remains one of Vietnam's leading trade partners, with two-way turnover in 2025 estimated at $90–95 billion.

According to the Ambassador, the goal of raising bilateral trade turnover to $150 billion by 2030 is feasible if both sides shift from "economic cooperation" to "structured economic linkage."

The focus will be on increasing localization rates through the development of supporting industries in Vietnam, expanding exports of high-tech products, processed agricultural goods, and services, and strengthening connections between small and medium-sized enterprises—an area with significant remaining potential for cooperation.