South Korean President Lee Jae Myung to make state visit to Vietnam

The visit will be Lee’s first to Vietnam as president and the first by a foreign head of state since Vietnam’s National Assembly completed a restructuring of the state apparatus, including the election of Party chief To Lam as state president.

The trip follows To Lam’s state visit to South Korea in August last year, which was meant to deepen the countries’ comprehensive strategic partnership.

Diplomatic ties between the two countries have strengthened since their establishment in 1992, with all South Korean presidents visiting Vietnam at least once during their tenure and frequent high-level exchanges on both sides.

South Korea is Vietnam’s largest foreign investor, its third-largest trading partner, and the second-largest provider of official development assistance, according to official data.

Bilateral trade reached US$89.5 billion in 2025, up 9.6 percent from a year earlier, while trade in the first quarter of 2026 rose 30 percent year on year to $26.9 billion, including $8.1 billion in Vietnamese exports, up 20.4 percent.

As of March, South Korea had 10,447 projects in Vietnam with registered capital of $98.9 billion, accounting for more than 23 percent of total projects and 18 percent of total registered foreign direct investment.

South Korean investment is concentrated in manufacturing, high technology, electronics, automobiles, construction, and real estate.

Seoul is also Hanoi's third-largest labor market, with nearly 45,000 Vietnamese workers employed under the Employment Permit System by the end of 2025, alongside tens of thousands of seasonal and skilled workers.

Tourism is another key area, with South Korea ranking second among sources of visitors to Vietnam, totaling 4.3 million arrivals.

The upcoming visit is expected to further strengthen political trust and expand cooperation in trade, investment, science, technology, and development between the two countries.