Yoon: "No Nation Without Businesses"... Promises 'All-Out Support' to Economic Delegation

Yoon Meets Business Leaders in Vietnam
"Please Speak Up If There Are Any Unreasonable Issues"
Trade Volume Increased 175 Times Since Diplomatic Relations, Human Exchange 2400 Times

President Yoon Suk-yeol, who is on a state visit to Vietnam, told the accompanying economic delegation, "There can be no nation without enterprises," and added, "As a sales representative of the Republic of Korea, I will drop everything and wholeheartedly support any efforts that help our companies." President Yoon has been expanding his activities to Europe, ASEAN, the United States, and other regions, focusing on sales diplomacy with the economic delegation.

On the 22nd (local time), President Yoon attended the 'Meeting with Accompanying Businesspeople' event held at a hotel in downtown Hanoi, where he reiterated the government's commitment by saying, "If there are any difficulties or unreasonable matters, please do not hesitate to inform our government." This visit to Vietnam included the largest number of businesspeople since the government was launched, with 205 entrepreneurs accompanying him. The dinner was attended by 254 people, including major company chairpersons such as Lee Jae-yong of Samsung Electronics, Chey Tae-won of SK, Chung Eui-sun of Hyundai Motor Group, Koo Kwang-mo of LG Group, Shin Dong-bin of Lotte Group, Kim Dong-kwan of Hanwha Group, as well as government officials and other businesspeople.

Choi Tae-won, chairman of SK Group and chairman of the Korea Chamber of Commerce and Industry, raised a crutch and proposed a toast at a dinner meeting with President Yoon Suk-yeol and accompanying Vietnamese businesspeople held at a hotel in Hanoi on the 22nd (local time).
[Photo by Yonhap News]

Vietnam is one of South Korea's 'top three trading partners,' and since establishing diplomatic relations in 1992, investment and exchange cooperation between the two countries have significantly strengthened. President Yoon also mentioned the economic friendship and cooperative relationship between Korea and Vietnam at this event. He emphasized that through various exchanges and cooperation, the two countries have grown together, with trade volume increasing approximately 175 times (87.7 billion USD) and human exchanges increasing 2,400 times (4.8 million people) compared to the time of establishing diplomatic relations. President Yoon said, "New opportunities are opening up for Korea, which has a stronger bond with Vietnam than any other country," and urged, "I ask you to take the lead and challenge these opportunities."

He also expressed expectations for Vietnam's role in the supply chain restructuring process. President Yoon explained, "The business environment is very difficult due to the global economic slowdown, supply chain disruptions, and energy and climate crises," adding, "We can find solutions to these crises here in Vietnam, which is at the center of global supply chain restructuring and an emerging consumer market." He further elaborated that "Vietnam is accelerating the creation of an innovation ecosystem to reach developed country status by 2045," and that Vietnam's various infrastructure improvements and large-scale industrial transformation projects will present opportunities for Korean companies.

He then urged businesspeople to invest. President Yoon emphasized, "When you look at a country, you see its companies. Even when you see an aircraft carrier or a fighter jet, you see thousands of companies that make them up," and added, "Companies are workplaces for workers, places where capital is invested, and where managers realize their dreams and identities through technology. Economic dynamism comes from companies." He also promised government support. According to President Yoon's logic, "There can be no nation without companies, and national security cannot exist without them," and he stated, "Although the business environment has been difficult recently, we must find new opportunities in Vietnam, which is at the center of global supply chain restructuring and an emerging consumer market. Our government will do its utmost to support companies so that the government and businesses can become one team."

On the second day of the state visit to Vietnam, the 'sales diplomacy' continues. President Yoon plans to meet and encourage Korean businesspeople operating in Vietnam. Approximately 9,000 companies from sectors such as electronics, automobiles, distribution, food, and rare earths have entered Vietnam, creating employment for about 700,000 people. He will also attend the Korea-Vietnam Business Forum, which involves representatives from both governments and about 500 major companies. At this forum, key economic figures from both Korea and Vietnam will discuss cooperation plans regarding trade and investment, supply chains, and advanced industries. A presidential office official stated, "President Yoon will express gratitude to the businesspeople of both countries who have worked to make the two nations core partners in various fields, including trade, investment, human exchanges, and culture," and added, "He also plans to propose new measures to open a new 30-year chapter."

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