South Korea seeks participation in Vietnam’s nuclear power, high-speed rail projects

President Lee is on the final day of a four-day state visit to Vietnam at the invitation of Vietnamese Party General Secretary and State President To Lam.

The president called on Vietnam to facilitate greater participation by South Korean companies in strategic infrastructure projects, particularly in nuclear energy development, high-speed rail, and other large-scale infrastructure initiatives.

He also urged the Vietnamese government to help resolve existing challenges faced by South Korean firms operating in the Southeast Asian country.

The South Korean leader emphasized the need to expand long-term, strategic cooperation beyond trade, investment, and energy into areas such as science and technology, labor, and supply chains.

He underscored that Vietnam’s success is closely linked to South Korea’s, advocating for stronger high-level exchanges to promote sustainable shared prosperity.

President Lee also indicated that South Korea would consider increasing quotas for Vietnamese workers, broadening eligible sectors, and enhancing cooperation in workforce training.

He stressed the importance of safeguarding the legal rights and interests of foreign workers.

At the reception, PM Hung insisted on consolidating political trust through expanded cooperation in defense, security, and diplomacy.

On economic cooperation, the Vietnamese leader urged both sides to strengthen economic linkages with a focus on innovation and quality.

He proposed coordinated efforts to implement an action plan aimed at raising bilateral trade to US$150 billion by 2030 in a more balanced manner, alongside further market opening for both countries’ goods.

The prime minister also called on South Korea to support higher localization rates and greater participation by Vietnamese firms in South Korean supply chains, while introducing supporting policies to Vietnamese investors in South Korea.

Additionally, he sought the sharing of expertise in financial innovation, banking supervision, and urged South Korean firms to participate in Vietnam’s international financial center.

The Vietnamese leader mentioned the expansion of cooperation in science and technology, innovation, digital transformation, and sustainable energy security.

Besides, he expects the two nations to enhance collaboration in human resources, culture, tourism, and people-to-people exchanges.

President Lee expressed support for Vietnam’s proposals and affirmed South Korea’s commitment to working toward the $150 billion trade target by 2030.

South Korea will create favorable conditions for Vietnamese businesses to integrate more deeply into its global supply chains, he said.

President Lee reiterated South Korea’s readiness to accompany Vietnam in achieving its development goals, including becoming a modern industrialized nation by 2030 and a high-income developed country by 2045.

South Korea remains the largest foreign investor in Vietnam, with more than 10,000 companies operating in the country.

The Vietnamese prime minister noted that the visit reflects the high priority placed by South Korea and President Lee on relations with Vietnam, reported the Vietnam News Agency.

He expressed confidence that the visit would inject fresh momentum into the comprehensive strategic partnership between the two nations, fostering more substantive and effective cooperation in the years ahead.