Record 111 MOUs Signed... 'Yoon's Salesmanship' Also Worked in Vietnam

Attendance at Korea-Vietnam Business Forum
Over 600 Government Officials and Businesspeople from Both Countries Attend
54 Trade Deals, 24 Technology Collaborations, 29 Supply Chain Agreements
Yoon Urges "Restoring Trade Dynamism Between the Two Nations"

On the second day of President Yoon Suk-yeol's state visit to Vietnam on the 23rd (local time), the economic delegation and Vietnamese businesspeople signed 111 memorandums of understanding (MOUs) across various industrial sectors. Given that President Yoon led a large economic delegation of 205 members, it is interpreted that Vietnamese businesspeople are also expecting a revival of investment vitality between Korea and Vietnam.

In the afternoon, President Yoon attended the Korea-Vietnam Business Forum held at a hotel in Hanoi, encouraging the large-scale signing of MOUs by companies from both countries and expressing his gratitude. The forum was attended by over 600 people, including about 300 from the Korean government and business delegation and about 300 from the Vietnamese government and business sector.

On this occasion, 111 MOUs, concrete results of cooperation between companies and institutions from both countries, were signed. Among them, 54 MOUs were signed in trade sectors such as defense, consumer goods, healthcare, and food.

Additionally, 28 MOUs related to technological cooperation in electric vehicles and advanced industries, and 29 MOUs for supply chain and future cooperation including critical minerals and greenhouse gas reduction were signed, totaling a record 111 MOUs.

[Image source=Yonhap News]

President Yoon stated, "Although the physical distance between Seoul and Hanoi exceeds 3,000 km, the two countries have become important key partners in almost all areas including trade, investment, human exchange, and culture," expressing appreciation for the efforts of economic actors from both countries in building cooperative relations.

He continued, "Above all, the most urgent task is to restore the dynamism of trade between the two countries, which has been weakened due to the global economic downturn," emphasizing, "We must deepen cooperation in various fields such as consumer goods, plants, and services, and establish a horizontal collaborative relationship befitting the comprehensive strategic partnership."

Amid increasing global bloc formation, he also stressed the importance of the free trade system. President Yoon said, "Both countries have benefited the most from the free trade system, and we must work together to firmly uphold it," proposing, "Let us also respond together to global agendas such as carbon neutrality."

Not only the private sector but also the Vietnamese government showed high interest in economic cooperation with Korea, with Prime Minister Pham Minh Chinh and ministers and vice ministers from 13 ministries including the Ministry of Planning and Investment, Ministry of Industry and Trade, Ministry of Agriculture and Rural Development, and Ministry of Foreign Affairs attending.

The government stated, "We believe a stable and future-oriented cooperative foundation has been established, and we plan to actively support the early realization of concrete cooperative outcomes from the MOUs signed this time."

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