President Lee: "Vietnam's Future Is Korea's Future"... 74 MOUs Signed Between Companies of Both Countries

President Lee Jae-myung, who is on a state visit to Vietnam, met with business leaders from both countries on the 23rd (local time) and emphasized the need to advance economic cooperation, stating, "Just as Vietnam's leap forward was once Korea's growth, now Vietnam's future will become Korea's future."

President Lee Jae-myung and Vietnamese Prime Minister Pham Minh Hung are taking a commemorative photo with businesspeople from both countries at a pre-discussion meeting of the Korea-Vietnam Business Forum held at a hotel in Hanoi on the 23rd (local time). Photo by Yonhap News.

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President Lee made these remarks while attending the Korea-Vietnam Business Forum held in Hanoi, Vietnam, on the same day. He identified future high-tech industries, supply chains and energy, and science and technology as the three main directions for cooperation. President Lee said, "Korean companies have established a foundation for cooperation in Vietnam, particularly in the field of semiconductor packaging," and promised, "We will continue to expand investment in production facilities." He also noted that combining Vietnam's 'Doi Moi' (renewal) spirit with Korea's technological capabilities can create a new success story.

President Lee went on to say, "If both countries establish robust safety mechanisms in strategic resource sectors such as crude oil and rare earth elements, we can build a supply chain ecosystem that is resilient to any economic shock." He proposed expanding the horizon of cooperation, highlighting the significant potential for collaboration across the entire energy sector, including nuclear power, renewable energy, and long-distance power grid construction. President Lee also stated, "We are living in an era of technological supremacy where advanced science and technology determine a nation's power," and stressed the need to elevate science and technology cooperation beyond joint research and personnel exchanges. He explained that the 'Korea-Vietnam Science and Technology Innovation Master Plan Framework' will open a new future for bilateral science and technology cooperation.

The forum was attended by over 500 businesspeople from both countries, including the management of 109 companies from the Korean economic delegation, such as Lee Jae-yong, Executive Chairman of Samsung Electronics; Chey Tae-won, Chairman of SK Group; and Koo Kwang-mo, Chairman of LG Group. Prior to the main event, President Lee held separate meetings with key business leaders, including Executive Chairman Lee Jae-yong and Chairman Chey Tae-won, to discuss cooperation strategies. Chairman Chey expressed intentions regarding AI data centers and LNG projects, while Executive Chairman Lee highlighted support for the local high-tech ecosystem and talent development. Chairman Koo Kwang-mo shared plans to expand LG's role in manufacturing innovation, moving beyond home appliances to smart factories and more.

Kim Yongbeom, policy chief, is briefing on the Korea-Vietnam Business Forum at the Korean Press Center set up in a hotel in Hanoi, Vietnam on the 23rd (local time). Photo by Yonhap News

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After the forum, Kim Yongbeom, policy chief at the Presidential Office, held a briefing at the Hanoi Press Center and announced, "We confirmed strong interest and commitment to expanding economic cooperation between the two countries," adding, "A total of 74 MOUs were signed, covering advanced industries, energy, infrastructure, and Korean consumer goods." He stated, "Korea and Vietnam are each other's third-largest trading partners, and last year's trade volume reached a record high of 94.6 billion US dollars," and predicted, "At this rate, surpassing 100 billion dollars and even reaching 200 billion dollars is not a distant prospect."

Meanwhile, President Lee is set to return home on the 24th, concluding his six-day trip to India and Vietnam. During his four-day, three-night stay in Vietnam, he met with the country's top three leaders in terms of power hierarchy, focusing on discussions about economic cooperation. On the 19th, he spent three days and two nights in India, engaging in discussions with Prime Minister Narendra Modi on the development of bilateral relations and supply chain issues.

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