International media widely reports on the foreign trip of the party leader to the Republic of Korea
The Republic of Korea (RoK) and Vietnam recently strengthened their Comprehensive Strategic Partnership, with a focus on boosting economic and strategic cooperation. This was evident during the August 10-13 visit of General Secretary Tô lâm, who was accompanied by a high-ranking delegation and his spouse Ngô Phương Ly.
The visit, which received significant attention from international media, including major RoK outlets such as Yonhap News Agency, KBS, The Korea Herald, and The Korea Times, was deemed a pivotal moment in bilateral ties. The leaders committed to elevating their partnership to new heights, reflecting the two nations' commitment to strategic investment in infrastructure and energy.
President Lee Jae Myung stated that General Secretary Lâm was the first foreign guest received by the new RoK administration. The joint statement adopted by the leaders on August 11 emphasized the expansion of collaboration in future-oriented areas such as science and technology, energy, and supply chains.
The specific goals and strategies for boosting bilateral trade between Vietnam and South Korea to US$150 billion by 2030 focus on nearly doubling current trade volumes from about US$86.8 billion. Key elements include enhanced cooperation in semiconductors, machinery, agricultural products, textiles, seafood, and advanced manufacturing components, integrating supply chains between the two countries.
Other strategies involve trade diversification, trade facilitation and infrastructure, human resource development and technology, and institutional coordination. By focusing on infrastructure and energy, the two countries are creating a model for tariff-resilient growth that appeals to global investors.
Reuters (UK) and devdiscourse.com (India) assessed that the August 11 meeting between the leaders of the two countries aimed to boost economic and strategic cooperation. The partnership between the two countries is a forward-looking strategy aimed at building a resilient, sustainable economic corridor.
President Lee emphasized that General Secretary Lâm's visit holds special significance and creates a strong impetus to enhance mutual understanding, consolidate political trust, and further deepen the RoK-Việt Nam Comprehensive Strategic Partnership. Ainvest.com (US) described the RoK-Vietnam Comprehensive Strategic Partnership as a beacon of economic resilience.
The RoK regards Vietnam as a key partner in implementing its regional foreign policy. By working together, both countries aim to achieve mutual benefits and shared growth ambitions amid the geopolitical context of U.S.-China rivalry and global economic shifts.
- The collaboration between the Republic of Korea (RoK) and Vietnam in science and technology was highlighted in the joint statement adopted by the leaders on August 11.
- The high-ranking delegation, including General Secretary Tô lâm, visited several major RoK businesses, such as those in the real-estate and finance sectors.
- The economic cooperation between RoK and Vietnam in the area of artificial intelligence (AI) is expected to bolster their competitive edge in the global market.
- The strategic investment in infrastructure and energy, as agreed upon by the leaders, is expected to spur economic growth and attract more foreign investments.
- The partnership between the two countries is also aimed at promoting cultural exchange to foster mutual understanding and strengthen bilateral ties.
- During the visit, several policies regarding trade and investing were discussed, with a focus on reducing barriers and increasing market access.
- The leaders also agreed to work together on addressing war-and-conflicts-related issues, particularly those in the region, to promote peace and stability.
- The expanded cooperation in energy will not only contribute to meeting the growing energy demands of both countries but will also pave the way for green and sustainable growth.
- The RoK-Vietnam Comprehensive Strategic Partnership, with its focus on trade, business, energy, and culture, has the potential to serve as a model for other countries in the region, particularly in the context of global economic shifts and geopolitical tensions.
