Vietnam emerges as key global manufacturing hub: KOTRA

“Every time I visit this country [Vietnam], I am struck by its incredible dynamism, and today is no exception,” he stressed.

Beyond its role in ASEAN, Vietnam is rapidly emerging as a pivotal hub for global manufacturing and supply chains, he underlined.

With a remarkable growth rate of 8.02 percent in 2025, Vietnam has firmly established itself as the region’s most powerful economic engine.

He also highlighted the Southeast Asian nation’s appeal to South Korean investors.

“Nearly 10,000 Korean investment projects are thriving across Vietnam," he said.

“As the largest cumulative source of foreign direct investment, South Korea remains the most steadfast partner in elevating Vietnam's industrial competitiveness on the global stage."

Kim Nyoun Ho, chairman of the Korea Chamber of Commerce in Vietnam, told Tuoi Tre News that Vietnam shares many similarities with South Korea in terms of culture, climate and people, making it one of the most favorable destinations for South Korean investors.

“I believe South Korean companies will continue to expand their investment in Vietnam, particularly in advanced industries such as artificial intelligence and semiconductors,” he said.

In an interview with local reporters on the sidelines of the forum, Kim Ki-mun, chairman of the Korea Federation of Small and Medium Enterprises, said Vietnam offers an attractive investment climate, particularly due to its diligent workforce and positive work ethic.

However, obstacles related to visa applications, entry procedures, and tax issues continue to pose challenges for South Korean firms, delaying their investment activities in Vietnam, he said.

He hoped that Vietnam would further simplify administrative procedures to create more favorable conditions for foreign investors.

Given its huge potential, Vietnam will continue growing stronger and more sustainably, he underscored.

Vietnam-South Korea cooperation strengthens

As of the end of March, South Korea had remained Vietnam’s largest foreign investor among 154 countries and territories, with total registered capital reaching US$98.9 billion across some 10,450 projects, Ho Sy Hung, president of the Vietnam Chamber of Commerce and Industry (VCCI), told the forum.

South Korean investments accounted for more than 23 percent of the total number of projects and 18 percent of the total registered foreign investment capital in Vietnam.

These projects mainly focused on manufacturing and processing industries, high technology, electronics, automobiles and auto parts, construction, and real estate.

Bilateral trade between Vietnam and South Korea hit $89.5 billion in 2025.

In the first three months of 2026, total import-export turnover between the two countries amounted to $26.9 billion, up 30 percent year on year.

South Korea is currently Vietnam’s third-largest trading partner, while Vietnam is the former’s fourth-largest trading partner, he said.

“Vietnam is an open and dynamic economy, and serves as a gateway to ASEAN, with a network of free trade agreements connecting it to more than 60 economies worldwide,” he stressed.

Foreign investment flows from South Korea are shifting toward both expanding investment in hi-tech industries and deepening engagement in strategic energy infrastructure, helping not only solidify Vietnam’s role in global supply chains but also support its energy transition and enhance economic self-reliance.

VCCI believed that the outcomes of the forum would contribute to the development process of both the Vietnamese and South Korean economies.

“We hope to continue receiving the attention and support of the leaders of both governments, while welcoming major South Korean enterprises to further invest in Vietnam and cooperate with Vietnamese firms in key areas such as green finance, digital transformation, semiconductor development, green energy, circular energy, and smart transport infrastructure, among others," Hung said.

Held in commemoration of the 34th anniversary of diplomatic ties between South Korea and Vietnam, the Maekyung Vietnam Forum 2026, themed ‘Korea-Vietnam: Advancing Together For National Rise,’ was organized as a high-level platform for dialogue aimed at further deepening bilateral cooperation and advancing future-oriented partnerships between the two countries.

The forum attracted over 200 participants, including senior government officials from South Korea and Vietnam, chief executives and senior leaders of major South Korean corporations such as Samsung, SK, Hyundai Motor, LG, POSCO, CJ, LS and TKG TAEKWANG, as well as prominent Vietnamese business leaders, investors, and representatives of international organizations.