The meeting between Acting Minister of Industry and Trade Le Manh Hung and RoK Ambassador to Vietnam Choi Young Sam focused on advancing collaboration in key sectors as both countries prepare for the upcoming state visit to Vietnam by the RoK President.

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The meeting between Acting Minister of Industry and Trade Le Manh Hung and RoK Ambassador to Vietnam Choi Young Sam (Photo: Ministry of Industry and Trade)

Hung highlighted positive results in bilateral industrial cooperation, citing joint initiatives such as the Vietnam - Korea Technology Consultancy and Solutions Center, technical support programs, and the Vietnam - RoK critical minerals supply chain center project. He also encouraged the co-organization of a minerals cooperation workshop to explore opportunities aligned with Vietnam’s updated legal framework.

On trade, Hung welcomed efforts that helped bilateral turnover reach 17 billion USD in the first two months of 2026, up 25% year-on-year, and called for continued coordination to achieve a more balanced trade value of 150 billion USD by 2030.

He proposed that both sides convene the 15th Vietnam–RoK Joint Committee on Trade, Industry and Energy Cooperation and the ninth meeting on the implementation of the Vietnam - RoK Free Trade Agreement in 2026 to address challenges and promote cooperation.

Choi reaffirmed the RoK’s strong commitment to relations with Vietnam and expressed interest in expanding cooperation, particularly in industry and energy. He voiced confidence that both sides would implement initiatives and prepare well for the forthcoming state visit, strengthening bilateral ties.

According to the Department of Vietnam Customs, bilateral trade reached 89.5 billion USD in 2025, up 9.6% year-on-year. In the first two months of 2026, trade totaled 17 billion USD, including 5 billion USD in Vietnam’s exports (up 17%) and 12 billion USD in imports (up 29%).

Source: VNA