Republic of Korea eyes deeper tech, supply chain ties with Vietnam ahead of President Lee’s visit

The Republic of Korea's Foreign Minister Cho Hyun said in an exclusive interview with Tuoi Tre (Youth) newspaper that Seoul views Vietnam as its most important global strategic partner, signaling a shift beyond traditional manufacturing ties toward deeper cooperation in advanced industries, energy, and innovation.

The visit, scheduled for Tuesday to Friday, comes as both countries usher in new leadership, giving it added political weight and an opportunity to reset priorities, Cho said.

“The visit will act as a compass for leaders of both countries to demonstrate their commitment and set directions for strengthening cooperation in key strategic areas,” Cho said.

At the core of Seoul’s approach is a push to strengthen supply chain resilience and expand cooperation into future-oriented sectors such as artificial intelligence, semiconductors, and clean energy, as global production networks are reshaped by geopolitical tensions.

Vietnam, already a major manufacturing hub for Korean firms, is expected to play a larger role as a base for higher-value industries, supported by technology transfer, workforce development, and expanded investment.

“I believe cooperation with the Republic of Korea will help propel Vietnam’s economic modernization,” Cho said.

The Republic of Korea is currently Vietnam’s largest foreign investor, with around 10,000 companies doing business across the country, from small firms to major conglomerates. 

The two nations are also aiming to deepen their economic ties further, with bilateral trade expected to reach US$150 billion by 2030.

Cho said both governments are working to build institutional frameworks to support cooperation in critical minerals, digital technology, and infrastructure, alongside planned agreements spanning energy, finance, agriculture, and the environment.

He added that strengthening human capital is a key pillar of the partnership, with The Republic of Korea expanding training programs, including advanced degrees in emerging technologies, to support Vietnam’s long-term industrial ambitions.

Science and technology cooperation is also expected to emerge as a defining feature of the relationship, with a joint master plan set to be launched during the visit.

The Vietnam-Korea Institute of Science and Technology (VKIST), established with Korean support, is being positioned as a hub for joint research and development and a platform for future industrial collaboration.

Cho said the success of the visit would hinge on implementation rather than the number of agreements signed, calling for stronger coordination and the removal of regulatory barriers to ensure tangible outcomes for businesses.

He also pointed to the need for a more predictable investment environment in Vietnam to sustain foreign investor confidence, particularly in areas such as tax policy and renewable energy pricing.

President Lee’s visit is expected to be accompanied by a large business delegation, underscoring the growing role of private sector ties in driving the bilateral relationship as both countries seek to navigate an increasingly uncertain global economic landscape.

Vietnam is the second stop on Lee’s Tuesday–Friday trip to India and Vietnam, with most activities scheduled in Hanoi.

He is expected to meet top Vietnamese leaders, including Party General Secretary and State President To Lam, Prime Minister Le Minh Hung, and National Assembly Chairman Tran Thanh Man, and attend a Korea–Vietnam Business Forum and cultural events.

Korean media have reported that nearly 200 companies will accompany their president, including executives from major conglomerates such as Samsung, SK, Hyundai Motor, and LG.

Samsung Electronics chairman Lee Jae Yong and LG Group chairman Koo Kwang Mo are expected to join both legs of the trip, reflecting their extensive business interests in the two countries.