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Vietnamese National Assembly President Tran Thanh Man and then-RoK National Assembly Speaker Woo Won Shik sign memorandum of understanding on cooperation between the two legislatures in 2025. |
It is expected to help boost exchanges between the two legislatures while providing an important impetus for elevating bilateral cooperation.
Comprehensive Strategic Partnership further deepens Viet Nam and the RoK's officially established diplomatic relations on December 22, 1992. Over the past more than three decades, Viet Nam–RoK relations have developed into a model of cooperation, ranking among the world’s most exemplary bilateral partnerships.
The two countries issued a joint statement on a “Comprehensive Partnership in the 21st Century” in August 2001. Bilateral ties were upgraded to a “Strategic Cooperative Partnership” in October 2009, followed by the landmark elevation to a “Comprehensive Strategic Partnership” in December 2022. These milestones have provided a framework for advancing bilateral cooperation across a wide range of areas.
Since ties were upgraded in 2022, political trust between Viet Nam and the RoK has continued to deepen. The two sides have maintained strong relations through all channels — the Party, government and parliament — while stepping up visits, exchanges and high-level contacts between their leaders. Most recently, General Secretary of the Communist Party of Viet Nam Central Committee To Lam paid a state visit to the RoK in August 2025, followed by RoK President Lee Jae Myung’s state visit to Viet Nam in April 2026.
Party General Secretary To Lam was the first state guest to visit the RoK after President Lee took office in June 2025. During the visit, the two sides issued a joint statement on further deepening the bilateral Comprehensive Strategic Partnership. They exchanged 10 cooperation documents between ministries and agencies of the two countries covering various fields.
During President Lee’s state visit to Viet Nam in 2026, the two sides also exchanged 12 cooperation documents.
The two countries currently have a diverse range of cooperation mechanisms and frameworks, covering both multi-sector cooperation and specific areas of expertise at various levels. These bilateral mechanisms and frameworks are operating smoothly, effectively and flexibly, addressing emerging issues and practical needs in each specific area of cooperation.
On multilateral forums, Viet Nam and the RoK cooperate closely and make positive contributions to international organizations such as the United Nations, the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC) forum and the Asia-Europe Meeting (ASEM), as well as regional cooperation mechanisms including Mekong–RoK, ASEAN–RoK, ASEAN+3, the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS). Notably, Viet Nam played a leading role in strengthening cooperation between the RoK and ASEAN as the coordinator for the RoK–ASEAN dialogue relations for the 2021–2024 term.
Economic, trade and investment cooperation a key pillar
Economic and trade cooperation is a key pillar of bilateral ties and a bright spot in Viet Nam’s international economic cooperation. After more than 30 years of trade relations, the two countries have become major partners for each other.
The RoK is currently Viet Nam’s No. 1 investment partner, its second-largest source of tourists, second-largest provider of ODA and third-largest trading partner.
Bilateral trade reached 89.5 billion USD in 2025, up 9.6% from 2024. In the first seven months of 2026, it stood at 70 billion USD, an increase of 41% from the same period in 2025.
Viet Nam mainly exports to the RoK products manufactured by FDI firms, including phones and components, computers, electronic products and components. The RoK mainly exports components and parts, machinery and equipment, and production materials to the Southeast Asian nation.
The two sides are currently discussing specific measures to implement the Action Plan to achieve the goal of more balanced bilateral trade of 150 billion USD by 2030.
As of the end of July 2026, the RoK remained the largest investor among the 154 countries and territories investing in Viet Nam, with total registered capital of 102.6 billion USD across 10,567 projects. Korean investment accounted for more than 23% of the total number of projects and 18.2% of total registered FDI in Viet Nam.
Korean investment has focused on key sectors of Viet Nam’s economy, including manufacturing and processing, high technology, electronics, automobiles and auto parts, construction and real estate. It is concentrated in provinces and cities including Bac Ninh, Ho Chi Minh City, Hai Phong, Dong Nai and Thai Nguyen.
Science and technology cooperation has been identified as a pillar and a new bright spot in bilateral relations. Viet Nam’s Ministry of Science and Technology worked with the RoK’s Ministry of Science and ICT to hold the 10th session of the Viet Nam–RoK Joint Committee on Science and Technology Cooperation in April 2026. The two sides agreed to promote emerging fields including artificial intelligence, biotechnology, quantum technology and semiconductors, while strengthening high-quality human resources training and connecting their innovation ecosystems.
The two sides have also established the Viet Nam–Korea Institute of Science and Technology (VKIST), with the RoK providing 30 million USD in non-refundable aid. They are now working to implement the second phase of the project.
In tourism cooperation, the RoK was Viet Nam’s second-largest source of foreign tourists in 2025, with 4.3 million arrivals, accounting for 21% of total international arrivals to Viet Nam.
In addition, cultural exchanges and people-to-people ties provide a solid foundation for deepening relations between the two countries. Nearly 400,000 Vietnamese live, study and work in the RoK, while more than 200,000 Koreans live in Viet Nam.
Beyond the core areas of cooperation, bilateral collaboration in other fields, including defense and security, has also continued to gain momentum. Cooperation between localities has likewise been strengthened, with numerous partnerships established.
Expanding parliamentary cooperation
Parliamentary cooperation is another important pillar of the Viet Nam–RoK Comprehensive Strategic Partnership. In recent years, the two sides have maintained regular contacts and exchanges between leaders of their legislatures, as well as through committees, friendship parliamentarian groups, and groups of women and young parliamentarians. They have also regularly exchanged views and experience and coordinated efforts to monitor and promote the effective implementation of signed agreements.
The Viet Nam–RoK and RoK–Viet Nam parliamentary friendship groups have increasingly become a flexible channel of dialogue closely attuned to practical issues. Beyond fostering friendship, they have also helped identify potential problems early and address obstacles in bilateral relations in a timely manner.
In particular, in November 2025, the two N.A.s signed a Memorandum of Understanding on cooperation. They have also worked closely together and supported each other at multilateral parliamentary forums, including the Inter-Parliamentary Union (IPU) and the ASEAN Inter-Parliamentary Assembly (AIPA), making positive contributions to maintaining peace, security and stability in the region and the world.
Against the backdrop of strong, substantive, effective and comprehensive development in Viet Nam–RoK relations across a wide range of areas, N.A. President Man’s visit is of significant importance.
It is N.A. President Man’s first official visit to the RoK since taking office and the first visit by a Vietnamese chief legislator to the RoK in five years. Moreover, N.A. President Man is the first foreign guest of Speaker of the RoK National Assembly Cho Jeong-sik.
Vietnamese Ambassador to the RoK Vu Ho said the visit affirms the consistent importance that the Party, State and N.A. of Viet Nam attach to the Comprehensive Strategic Partnership. It is not only aimed at strengthening political trust, but also at discussing specific measures to translate high-level agreements into concrete outcomes.
In an interview granted to the Viet Nam News Agency, Speaker Cho also noted his belief that this visit will be an opportunity to facilitate the implementation of the signed agreements.
“I look forward to discussing ways to further enhance our parliamentary exchanges and cooperation. I also hope to exchange views on ways to further advance our bilateral relationship, which was elevated to a Comprehensive Strategic Partnership in 2022,” he said.
“It is my firm belief that active communication and exchanges will not only strengthen the friendly ties between our two parliaments, but also provide a strong legal and institutional foundation for the sustainable shared prosperity of Korea and Viet Nam”.
Source: VNA