President Lee Holds Summit in Vietnam Today: Advancing Economic Cooperation and Strengthening Supply Chains

Summit Meeting and MOU Exchange Scheduled

Practical Measures for Economic Cooperation in Nuclear Power, Infrastructure, and Advanced Industries to Be Discussed

President Lee Jae-myung, who is currently on a state visit to Vietnam, will hold a summit meeting with To Lam, General Secretary of the Communist Party and President of Vietnam, in Hanoi on the 22nd (local time) to discuss ways to further elevate strategic economic cooperation. Amid growing global uncertainty, the summit is expected to focus on strengthening energy security and collaboration on critical mineral supply chains, as well as expanding bilateral cooperation into the fields of nuclear power, infrastructure, and advanced industries.

Yonhap News Agency

President Lee's packed schedule in Hanoi begins with a luncheon meeting with local Korean residents and continues with a wreath-laying ceremony at the Ho Chi Minh Mausoleum, an official welcoming ceremony, the Korea-Vietnam summit, an MOU exchange ceremony, a joint press announcement, and a state dinner. The Blue House expects this summit to serve as an opportunity to materialize strategic and mutually beneficial cooperation, based on the trust built during To Lam's state visit to Korea in August 2025 and the summit call between the two leaders in January of this year.

The key agenda items are economic cooperation and supply chain enhancement. Both countries are aiming to reach a trade volume of 150 billion dollars by 2030, and this summit will review the institutional and practical foundations needed to support this goal. In particular, substantive cooperation measures to respond to changes in the global trade environment—such as energy security, critical minerals, supply chains for advanced manufacturing, and digital and technological cooperation—are expected to be key topics of discussion.

Nuclear power and large-scale infrastructure projects are also expected to be major items on the agenda. Discussions are underway on expanding Korean corporate participation in Vietnam’s ongoing projects for railways, new cities, airports, and energy, as well as on nuclear power collaboration and establishing long-term infrastructure partnerships. Foreign and local Vietnamese media have highlighted the possibility that this visit could mark a shift in bilateral cooperation from traditional manufacturing to a structure centered on technology, innovation, and infrastructure.

Collaboration in future industries such as AI and semiconductors is also considered essential. Vietnam has established itself as a core production base and supply chain partner for Korea, and Korea remains one of the largest foreign investors in Vietnam. It is estimated that around 10,000 Korean companies are active locally, and there are growing expectations that this summit could serve as an opportunity to expand cooperation from manufacturing to the digital sector, semiconductors, and talent development.

National Security Advisor Wi Sung-lac stated at a prior press briefing, "We intend to further strengthen mutually beneficial and strategic cooperation with Vietnam in key areas for national development, such as infrastructure and nuclear power." He added, "As global uncertainty grows, we will also enhance communication to build economic security partnerships in energy and supply chain stability, as well as critical mineral cooperation."

President Lee Jae-myung and General Secretary Vo Van Thuong of Vietnam are entering the official Korea-Vietnam banquet held at the Blue House State Guesthouse on August 11, 2025. Photo by Yonhap News

This summit is also expected to address the improvement of local business conditions for Korean companies. Easing difficulties related to investment, customs clearance, and taxation, as well as ensuring institutional stability commensurate with expanded trade and investment, are seen as critical tasks for both countries. With the added significance of being the first state visit since the inauguration of Vietnam’s new leadership, this summit could serve as a turning point, advancing bilateral relations from a ‘comprehensive strategic partnership’ to a more substantive stage of cooperation.

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