Southeast Asia Information Port News (www.dnyxxg.com) – Against the backdrop of profound reshaping of global supply chains and accelerated energy transition, Vietnam and South Korea are facing a crucial opportunity to upgrade their bilateral relations. Recently, Le Manh Hung, Acting Minister of Industry and Trade of Vietnam, held working talks with Choi Young Sam, South Korean Ambassador to Vietnam. Both sides emphasized focusing on three core areas: industry, energy, and strategic minerals, to promote cooperation in a more pragmatic and sustainable direction.
During the talks, Le Manh Hung highly praised the positive results achieved in Vietnam-South Korea industrial cooperation, highlighting the significant achievements of cooperation platforms such as the Vietnam-South Korea Technology Consulting and Solutions Center (VITASK), the Vietnam-South Korea Technology Support and Solutions Project, and the Vietnam-South Korea Key Minerals Supply Chain Center. It is understood that since its launch, the Vietnam-South Korea Key Minerals Supply Chain Center has achieved precise matching between Vietnam's advantageous resources such as rare earths and South Korea's advanced processing technologies, becoming an important fulcrum for bilateral industrial chain synergy. Le Manh Hung also proposed that both sides should jointly hold a thematic seminar on mineral cooperation, proactively aligning with Vietnam's newly enacted Minerals Law and its supporting decrees (Decreto 21/2026/ND-CP) to explore new avenues for compliant cooperation.
Regarding trade cooperation, data shows strong growth momentum. According to Vietnamese customs statistics, the total import and export volume between Vietnam and South Korea reached US$89.5 billion in 2025, a year-on-year increase of 9.6%, of which Vietnam's exports to South Korea were US$28.9 billion (+12.7%) and imports from South Korea were US$60.5 billion (+8.1%). In the first two months of 2026, bilateral trade further climbed to US$17 billion, a significant year-on-year increase of 25%, with exports and imports reaching US$5 billion (+17%) and US$12 billion (+29%) respectively. Based on the positive development trend, Le Manh Hung called on both sides to continue implementing the action plan—a plan stemming from the consensus reached by the leaders of the two countries—aiming to increase bilateral trade to US$150 billion by 2030, while focusing on optimizing the trade structure and promoting a more balanced bilateral trade.
To ensure the steady progress of cooperation, Le Manh Hung proposed that the 15th meeting of the Vietnam-Korea Joint Committee on Trade, Industry and Energy Cooperation and the 9th meeting of the Vietnam-Korea Free Trade Agreement Implementation Committee be held as scheduled in 2026. He emphasized that these two annual mechanisms are important platforms for both sides to consult on resolving cooperation bottlenecks and planning future cooperation paths, injecting continuous momentum into cooperation in various fields.
South Korean Ambassador to Vietnam Choi Young-sam reiterated during the talks that South Korea has always regarded Vietnam as an important strategic partner and attaches great importance to the development of bilateral relations. He stated that South Korea is willing to work with Vietnam to further expand the depth and breadth of cooperation in areas such as energy and industry, lay a solid foundation for cooperation for the upcoming visit of the South Korean president to Vietnam, and jointly seize the development opportunities brought about by global industrial transformation.
As South Korea's third-largest trading partner and largest investment destination, Vietnam currently has approximately 10,000 South Korean companies operating there. The numerous consensuses reached at this meeting will not only enhance the quality and efficiency of bilateral cooperation in core areas, but will also provide crucial support for the stability and coordinated development of regional supply chains. (End)
