Meeting between Korean and Vietnamese Deputy Prime Ministers... Consensus on 'Strengthening Supply Chain Cooperation'

Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance (right), is greeting Le Minh Khai, Deputy Prime Minister of Vietnam, at the Government Seoul Office Building on the 14th. (Photo by Ministry of Economy and Finance)

[Sejong=Asia Economy Reporter Son Seonhee] The economic heads of South Korea and Vietnam met and reached a consensus on 'strengthening supply chain cooperation' and agreed to expand future collaboration.

According to the Ministry of Economy and Finance on the 14th, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, held a meeting with Le Minh Khai, Deputy Prime Minister of Vietnam, at the Government Seoul Office in the afternoon to discuss these matters. This meeting was arranged as Le Minh Khai accompanied Vuong Dinh Hue, Chairman of the National Assembly of Vietnam, who visited Korea to attend the Asia-Pacific Parliamentary Forum.

Deputy Prime Minister Hong positively evaluated the steady expansion of trade and investment between the two countries despite the COVID-19 situation. He also expressed gratitude for Vietnam’s active cooperation during the recent domestic shortage of urea solution and proposed strengthening supply chain cooperation for key items such as urea solution between the two countries.

In response, Deputy Prime Minister Khai agreed on the necessity of cooperation between the two countries amid recent global supply chain disruptions and said, "Let us expand cooperation through close communication," according to the Ministry of Economy and Finance. He also requested the expansion of trade in agricultural products and increased Vietnamese investment in advanced technology sectors. Additionally, he expressed appreciation for the Korean government’s provision of a total of 1.39 million doses of AstraZeneca vaccines to Vietnam in two shipments in October and November.

Deputy Prime Minister Hong asked for Vietnam’s interest to ensure the prompt launch of the Korea-Vietnam Health and Vaccine Joint Committee. He also said, "I hope Korean companies operating in Vietnam will have more opportunities to participate in large infrastructure projects such as railroads and roads commissioned by the Vietnamese government," and added, "Given the recent increase in local financial demand due to the expansion of Korean companies in Vietnam, I hope the approval procedures for domestic financial institutions such as the Industrial Bank of Korea and the Korea Development Bank to enter Vietnam will be completed promptly."

Deputy Prime Minister Khai reminded that next year marks the "30th anniversary of diplomatic relations between the two countries" and expressed hope that the Korea-Vietnam Deputy Prime Ministerial Economic Meeting, delayed due to the COVID-19 pandemic, will resume soon. Deputy Prime Minister Hong agreed and responded by proposing to hold the second meeting in Vietnam in the first half of next year to deepen economic cooperation between the two countries.

Immediately after the meeting, Deputy Prime Minister Hong posted on his social media, "I hope COVID-19 will be completely eradicated soon, allowing free movement between the two countries. Through various exchange activities, including the second Korea-Vietnam Deputy Prime Ministerial Economic Meeting, I look forward to expanding cooperation and exchanges not only between the governments but also among companies and citizens of both countries, creating mutual synergy and growing together."

This content was produced with the assistance of AI translation services.