Korean Investment Boosts Vietnam’s Economic Growth: PM Pham Minh Chinh Meets with President Yoon Suk Yeol

During a meeting with Prime Minister Pham Minh Chinh, President Yoon Suk Yeol expressed that Korean businesses see Vietnam as a promising investment destination. The Vietnamese government leader voiced his support for major policies of the Republic of Korea and emphasized the importance of close coordination between the two countries to achieve greater success.

President Yoon Suk Yeol highlighted Vietnam as a key partner in the implementation of regional policies, including the Indo-Pacific strategy and the ASEAN-Korea solidarity initiative. He mentioned that Korean enterprises investing in Vietnam have helped create a favorable investment ecosystem and requested Prime Minister Pham Minh Chinh to facilitate their participation in key projects such as energy and LNG initiatives.

Leaders of many Korean corporations also praised Vietnam’s investment and business environment during discussions with Prime Minister Pham Minh Chinh. They showed interest in investing in renewable energy projects, particularly wind power and LNG projects. The two leaders agreed to continue cooperation and mutual support in international and regional forums of mutual interest.

President Yoon Suk Yeol commended Vietnam’s role as the coordinator of ASEAN-ROK relations and proposed upgrading the relationship to a Comprehensive Strategic Partnership. He supported Vietnam’s stance on the East Sea issue and expressed readiness to assist in training human resources for the semiconductor, high-tech, and cultural industries. Korea also pledged support for organizing the Partnership for Green Growth and the Global Goals 2030 Summit in April 2025.

Prime Minister Pham Minh Chinh encouraged cooperation between Vietnam and South Korea in various sectors, including semiconductors, digital transformation, green transformation, and biotechnology. He proposed financial support from the Korean government through loans to aid Vietnam in developing strategic infrastructure like high-speed railways. Both leaders aimed to deepen economic relations and increase bilateral trade turnover to $100 billion by 2025 and $150 billion by 2030.