PM proposes promoting VN-South Korea economic cooperation

Prime Minister Pham Minh Chinh has proposed Vietnam and South Korea to boost economic, trade, investment cooperation, striving to realize the goal of $100 billion in two-way trade, towards the $150-billion target by 2030, the Government News has reported.

He made the suggestion during a reception for his Korean counterpart Han Duck Soo who led a high-level delegation to Vietnam to attend the state funeral for General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong on July 25 in Hanoi.

PM Chinh sincerely thanked President Yoon Suk-yeol and the RoK government for sending condolences and a delegation led by PM Han Duck Soo - the special envoy of the RoK President - to Vietnam to pay tribute to the late leader.

PM Chinh affirmed that the Party, Government, and people of Vietnam attach special importance to the relationship with the RoK and wish to promote the comprehensive strategic partnership in a more substantive and effective manner.

He suggested Korean enterprises to continue expanding their investment in Vietnam, particularly in cutting-edge and future industries such as semiconductors, digital transformation, green and circular economy, hi-technology, renewable energy, and AI.

For his part, Korean PM Han extended his deepest condolences to the Government and people of Vietnam, as well as to the bereaved family over their great loss.

He stressed that Vietnam is a promising investment destination, with nearly 10,000 Korean firms already investing here. He suggested Vietnam continue creating conditions for Korean businesses to invest and expand their investment in the country.

He thanked Vietnamese leaders for their attention to organizing dialogues, tackling difficulties, and creating favorable conditions for Korean enterprises to invest effectively in Vietnam.

He expressed his desire to further deepen the comprehensive strategic partnership practically and effectively in coming time.