Korea and Vietnam Reshape Digital Cooperation with Danang Exchange

Da Nang Exchange Model Bridging Public and Private Sectors Comes to the Fore
Korea-Vietnam Future Industry Cooperation Expands Beyond Finance to Supply Chains

Korea and Vietnam have officially begun collaborating on future industries centered around blockchain and digital assets. The two countries are expanding the scope of cooperation beyond building digital financial infrastructure to include the entire spectrum of high-tech industries, such as the semiconductor industry, smart cities, logistics, healthcare, and education, as they explore a new Asia-oriented model of cooperation.

'Korea-Vietnam Blockchain and Semiconductor Industry Technology Cooperation and Policy Exchange Seminar'
Photo by Byeonggeon Kwon

These discussions were concretized at the 'Korea-Vietnam Blockchain and Semiconductor Industry Technology Cooperation and Policy Exchange Seminar,' which was held on April 15 from 2 p.m. to 4 p.m. on the second floor of the Ramada Hotel in Suwon, Gyeonggi Province. The seminar brought together government, industry, and academic representatives from both Korea and Vietnam to broadly discuss the institutionalization of digital assets, the establishment of exchanges, advanced technology cooperation, and ways to link relevant policies.

The core of the seminar was a plan to establish a digital asset exchange in Da Nang using a public-private partnership (PPP) model. Korea and Vietnam presented a blueprint to promote a joint cooperation model that integrates both countries’ technologies, systems, and market capabilities centered on the 'Danang Digital Asset Exchange,' with the aim of expanding it into a digital financial hub for the ASEAN region in the future.

As the global economy accelerates its digital transformation, blockchain and digital assets are emerging as key infrastructure not only for finance, but also for industries such as logistics, healthcare, and education. In particular, while investment demand for digital assets is rapidly increasing in Vietnam, there is currently no government-approved exchange, putting the country at a pivotal point where it can design national-level systems and build public infrastructure simultaneously.

It was a plan to establish a digital asset exchange using a public-private partnership (PPP) model. Chairman Sohn Ha-eun on the left
Photo by Byunggeon Kwon

The Vietnamese government is also speeding up institutionalization efforts. Under a directive from the Prime Minister for 2025, the Ministry of Finance and the central bank are preparing a sandbox system for digital asset exchanges, and the Digital Technology Industry Act is laying the policy foundation to include digital assets as a legitimate asset category. This demonstrates a policy shift from a regulatory-focused approach to one centered on institutionalization and fostering industry growth.

In this context, the potential for cooperation between Korea and Vietnam is drawing even more attention. Korea has a competitive edge in digital asset regulation, exchange operation know-how, anti-money laundering (AML) and know-your-customer (KYC) systems, and blockchain security technology. Vietnam, on the other hand, boasts a young population structure and rapid market expansion based on high growth potential.

Experts believe that if Korea's technological and institutional capabilities are combined with Vietnam's market potential and growth, a competitive digital financial cooperation model could be created in the Asian market.

The Da Nang Exchange project proposed at the seminar is particularly significant because it is designed as a PPP structure rather than a purely private venture. The strategy is to secure public trust, private sector innovation capabilities, international technology partnerships, and investment attraction effects simultaneously.

The project will be promoted in stages. In the first stage, a pilot exchange based on a sandbox will be used to verify technology, security, and regulatory systems. In the second stage, the project will be expanded into a PPP joint venture exchange to facilitate actual trading, coin listings, and integration with Vietnamese dong (VND) payment systems. The third stage aims for nationwide expansion and the establishment of an ASEAN digital financial hub.

It is noteworthy that this cooperation is not limited to simply establishing an exchange. Both countries agreed that the scope of cooperation can be broadened to various fields, such as semiconductor supply chain management, smart city operations, healthcare data utilization, logistics tracking systems, and education and professional workforce training, all based on blockchain. This demonstrates the potential for technology cooperation to drive structural innovation across the entire industrial ecosystem, beyond just building financial platforms.

Da Nang, in particular, is considered an ideal location to implement a digital finance demonstration model, as it is the economic center of central Vietnam and is actively pursuing smart city policies. If this model, which starts in Da Nang, spreads throughout Vietnam and to the ASEAN market, Korea-Vietnam cooperation could become a leading example of regional digital economic collaboration, surpassing simple bilateral cooperation.

During the event, it was stated in a welcoming address that "Da Nang has made digital transformation and the cultivation of high-tech industries the core of its city strategy," and that "cooperation with the Korean private sector is an important opportunity to design the foundation for Da Nang's future growth, going beyond mere technology exchange." The address also emphasized that "building new financial infrastructure, including a digital asset exchange, can become a symbolic project for both countries to realize their shared vision."

Sohn Haeun, President of the Korea AI Blockchain Science Technology Association, also highlighted the significance of bilateral cooperation in her welcoming speech. President Sohn said, "I would like to extend a warm welcome and heartfelt thanks to the representatives of major Vietnamese institutions who traveled a long way to visit Korea," adding, "This visit marks an important starting point for future industrial cooperation that Korea and Vietnam will create together, going beyond simple exchanges."

She continued, "Today's seminar is a meaningful occasion to further strengthen cooperation between the two countries in the fields of AI and blockchain, materialize the Danang Digital Asset Exchange project, and build a sustainable cooperation network between the public and private sectors," and added, "Based on its accumulated technological capabilities and abundant experience, Korea can become Vietnam's most trusted cooperation partner."

President Sohn also remarked, "I hope the relationship between the two countries will advance from a simple partnership to a strategic partnership that designs a shared future together," and added, "I look forward to the Danang-centered digital asset exchange project becoming a symbolic success model of Korea-Vietnam cooperation."

At the seminar, the Vietnamese delegation included Deputy Director Bui Van Tich of the Strategy Research Institute under the Ministry of Science and Technology, Deputy Director Quyen of Da Nang City Department of Science and Technology, Chief Truong of Da Nang City Foreign Affairs Department, President Tung of Quy Nhon University in Gia Lai Province, Counselor Ngoc of the Science and Technology Department at the Embassy of Vietnam in Korea, and Second Secretary Quy of the Embassy of Vietnam in Korea, reaffirming the commitment to cooperation in high-tech industries between the two countries.

As a result, the seminar is being evaluated as a venue where Korea and Vietnam identified practical points of cooperation in future core industries such as digital assets, AI, and semiconductors. The discussions on establishing an exchange are only the most visible achievement. Underlying those discussions is a strategic plan by both countries to connect technology and systems, policy and industry, and the public and private sectors into a single axis to find solutions for joint growth.

In an era when digital technology supremacy determines national competitiveness, attention is focused on whether this dialogue, which began in Suwon, will spread to Da Nang and throughout the ASEAN region. There is growing interest in what tangible outcomes Korea-Vietnam cooperation will produce within the new digital economic order.

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