Vietnam seeks South Korean investment in semiconductors, AI data centers

On Monday, at the South Korean National Assembly headquarters in Seoul, National Assembly Speaker Cho Jeong-sik hosted an official welcome ceremony for Vietnamese National Assembly Chairman Tran Thanh Man, who was on an official visit to South Korea.

The two leaders held talks immediately after the ceremony.

South Korea vows more business opportunities for Vietnamese citizens

According to Vietnam News Agency (VNA), Cho Jeong-sik warmly welcomed Tran Thanh Man and expressed his appreciation for the Vietnamese leader's visit as the first foreign parliamentary guest since South Korea's National Assembly completed its new leadership lineup.

Cho praised Vietnam's development achievements and growing international standing, saying South Korea was ready to support Vietnam in its next stage of development.

He called on Vietnam's government and National Assembly to continue improving the legal framework to help South Korean businesses invest in Vietnam with confidence over the long term.

Cho also agreed with Tran's proposal to support Vietnamese citizens and businesses in South Korea. 

He pledged to facilitate their lives and work in the country, including those from Vietnamese-Korean multicultural families, so they can live, work and integrate into Korean society with greater confidence.

Chairman Tran Thanh Man praised the South Korean National Assembly's key role and said he was impressed by Cho Jeong-sik's governing principles, which prioritize delivering tangible results for the public, expanding public participation, and strengthening legislation on future industries, digital transformation and artificial intelligence (AI).

He called on the South Korean National Assembly to encourage businesses to expand investment in Vietnam in priority areas including infrastructure, semiconductors, large-scale AI data centers, energy and seaports. 

He also urged South Korea to create more opportunities for Vietnamese businesses to participate more deeply in the country's manufacturing supply chains and promote greater market access for goods from both countries.

Science and technology to drive bilateral ties

At the talks, the two sides agreed to maintain regular high-level strategic exchanges and pursue a strategic vision for economic ties amid changing global conditions. 

They aim to increase bilateral trade to US$100 billion in 2026 and $150 billion by 2030, with a focus on balanced and sustainable growth.

South Korea will continue to prioritize grant aid and concessional official development assistance (ODA) for projects in Vietnam.

The two leaders also agreed to make science and technology a driver of bilateral ties and to improve policies to give businesses greater confidence to invest in each country for the long term.

The two sides agreed to expand cooperation in human resource training, culture, tourism and people-to-people exchanges, while continuing to improve policies to protect the legitimate rights and interests of Vietnamese communities in South Korea and South Korean communities in Vietnam.

Emphasizing the important role of parliamentary diplomacy, the two sides agreed to strengthen the sharing of experience and enhance the role of their legislatures in overseeing the implementation of international treaties and government cooperation agreements, as well as in improving policies and laws to create a favorable legal environment for businesses and people in both countries.

The two sides will continue to coordinate and support each other at regional and global interparliamentary forums.

Tran called on South Korea to actively share its experience and support Vietnam in successfully hosting the 2027 APEC Economic Leaders' Meeting, while strengthening coordination at the United Nations and effectively implementing ASEAN-South Korea and Mekong-South Korea cooperation mechanisms.