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Leaders of S. Korea, Vietnam Agree to Boost Bilateral Trade to $150 Billion

Written: 2025-08-11 15:14:37Updated: 2025-08-11 15:16:50

Leaders of S. Korea, Vietnam Agree to Boost Bilateral Trade to $150 Billion

Photo : YONHAP News

Anchor: President Lee Jae Myung held a summit on Monday with Vietnam’s top leader, Tô Lâm, the first foreign dignitary to make a state visit since Lee took office in June. Lâm arrived Sunday for the four-day state visit, and on Monday the two leaders agreed to boost bilateral trade to 150 billion U.S. dollars in five years.
Koo Hee-jin has this report. 
 
Report: President Lee Jae Myung held a summit on Monday with Vietnam’s top leader, Tô Lâm, and signed a joint statement vowing to enhance efforts to nearly double bilateral trade by 2030.

Lâm, the first foreign dignitary to make a state visit since Lee took office in June, arrived at the presidential office in Yongsan for a welcoming ceremony Monday morning.

After their talks, Lee held a joint briefing with Lâm, who serves as general secretary of Vietnam’s Communist Party.

Lee said the two leaders agreed that cooperation between their nations is more important than ever as South Korea strives to become a responsible global powerhouse that effectively tackles changes in the world order, and as Vietnam aims to become an advanced nation by 2045.

Accordingly, Lee said he and Lâm agreed to sign a joint statement to deepen the comprehensive strategic partnership between the two countries and further bilateral cooperation on multiple levels in a future-oriented manner.

The two nations agreed to accelerate reciprocal economic cooperation as they mark the tenth anniversary of their free trade agreement, aiming to boost bilateral trade to 150 billion U.S. dollars.

Vietnam, a member of the Association of Southeast Asian Nations, is South Korea’s third-largest trading partner, with bilateral trade standing at 86-point-seven billion U.S. dollars last year.

Lee added that more than ten-thousand South Korean businesses currently operate in Vietnam, contributing to mutual prosperity and cooperation.

The two sides also agreed to strengthen cooperation on nuclear power, high-speed railways and new city development.

Later on Monday, Lee will host a state dinner attended by the leaders of major business entities and organizations in both countries, along with key representatives from a wide range of sectors.
Koo Hee-jin, KBS World Radio News.

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