Wi Seongrak: "Korea-Vietnam Relations Make a Qualitative Leap"...To Expand Joint Defense Development and More

The Office of the President stated that President Lee Jaemyung's state visit to Vietnam has served as an opportunity to strengthen the political trust between the two countries, and to broaden the scope of cooperation to include infrastructure, nuclear power, energy, science and technology, and supply chain collaboration. Despite the relationship between Vietnam and China, both countries have agreed to expand areas of cooperation in the defense and defense industry sectors through ongoing collaboration, including joint production and joint development.

Seongnak Wi, Director of the National Security Office, is briefing on President Jaemyung Lee’s state visit at the Korean Press Center in a hotel in Hanoi, Vietnam, on the 23rd. Photo by Yonhap News Agency

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Suh Sunglak, Director of the National Security Office, held a briefing at the press center in Hanoi, Vietnam, on the 23rd (local time), stating, "This visit by the President has further solidified trade and investment cooperation with Vietnam, while also expanding the horizon of collaboration into more future-oriented fields, providing a qualitative leap forward in bilateral relations." President Lee is on a four-day state visit to Vietnam starting from the 21st.

Director Suh identified the strengthening of political trust with Vietnam's new leadership as the first major achievement of the visit. President Lee, as the first state guest since the inauguration of the new leadership, met with General Secretary and President To Lam for a summit and social events, and held meetings with the entire leadership including the Prime Minister and the Speaker of the National Assembly, laying the foundation for medium- and long-term cooperation. He explained, "President Lee and General Secretary To Lam agreed during their summit yesterday that the two countries are each other's most trusted partners to drive mutual progress."

On the occasion of the summit, the two countries agreed to deepen cooperation across a wide range of areas including energy, nuclear power, infrastructure, science and technology, as well as culture and people-to-people exchanges. Director Suh stated, "We have decided to seek mutually beneficial cooperation measures to facilitate the participation of Korean companies in major infrastructure projects such as new towns and high-speed railways." He added, "The 460 billion won contract for Ho Chi Minh City metro vehicles, which will be signed at the Korea-Vietnam Business Forum, is expected to serve as a catalyst for infrastructure cooperation between the two countries." Notably, Director Suh also said, "General Secretary To Lam welcomed the participation of Korean companies in Vietnam's nuclear power plant construction and energy transition," indicating that close consultations will continue going forward.

Energy cooperation also emerged as a major agenda item. Director Suh reported that General Secretary To Lam highly praised the role of Korean companies in Vietnam's energy sector, including LNG power generation, and welcomed their involvement in the energy transition process, such as nuclear power plant construction. However, regarding the level of nuclear power cooperation, he explained, "Initial consultations are underway," and that "discussions are at the stage of considering feasibility, risk, participation plans, and financial cooperation measures."

Following the summit the previous day, Korea Electric Power Corporation and Vietnam Oil and Gas Group (PVN) signed a Memorandum of Understanding (MOU) on "Reviewing the Possibility of Cooperation in Nuclear Power Development," focusing on exploring options for new nuclear power plant construction, joint analysis of construction risks, and support for establishing optimal project schedules. The government explained that this would lay the groundwork for Korean companies to secure new nuclear power plant projects in Vietnam.

Furthermore, both countries agreed to pursue nuclear power financing cooperation. The Export-Import Bank of Korea, Korea Trade Insurance Corporation, and Korea Electric Power Corporation signed an MOU with PVN on "Reviewing the Possibility of Financial Cooperation for Nuclear Power Projects," agreeing to establish a system for information exchange related to nuclear power and to review the feasibility of financial support. The aim is to proactively establish a support system tailored to Vietnam's large-scale financing needs and to lay the foundation for future entry into the nuclear power market.

Yonhap News Agency

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The supply chain for critical minerals and defense and defense industry cooperation were also discussed. Director Suh mentioned that Vietnam is the world's fifth-largest holder of rare earth elements, stating, "We have agreed to expand cooperation through the Korea-Vietnam Critical Minerals Supply Center, which will break ground this year, and the Mineral Resources Forum held during this visit." In addition, defense and defense industry cooperation were major agenda items at the summit. Director Suh said, "There were discussions on the defense industry," and while achievements so far have not been overwhelming, both sides agreed to continue expanding cooperation and to broaden the scope to include joint production and joint development.

Regarding the highly sensitive issue of energy security and supply chain concerns arising from instability in the Middle East, it was revealed that the leaders exchanged views. Director Suh explained, "Vietnam is an oil-producing country, but it also imports significant amounts of crude oil. The country exports domestically produced light crude oil and imports cheaper heavy crude oil for processing, but now faces difficulties because the supply of cheap heavy crude from the Middle East has been blocked." He added, "There was also discussion about exploring mutual support measures with countries like Korea."

The two countries also agreed to strengthen cooperation in science and technology and the digital sector. Through the "Science and Technology Innovation Cooperation Masterplan Framework," they will systematize cooperation in research and development, talent exchanges, and joint project discovery. Director Suh cited examples of Korean and Vietnamese companies collaborating on AI data centers, highlighting the active progress in digital cooperation. Additionally, expansion of cultural and people-to-people exchanges was presented as an achievement of this state visit. Director Suh noted that Vietnam was among the first countries in Southeast Asia where the Korean Wave spread, and assessed that the foundation had been laid for expanding cooperation in the cultural content industry, Korean language education, and media collaboration.

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