On August 11, 2025, within the framework of the State visit to Korea by General Secretary To Lam and his wife, Minister of Industry and Trade Nguyen Hong Dien had a working session with Minister of Trade, Industry and Energy of Korea Kim Jung Kwan.
At the meeting, Minister Nguyen Hong Dien affirmed that bilateral economic and trade relations are at a time of brilliant development, clearly reflecting the comprehensive strategic partnership, in which Korea is the largest investment partner and the third largest trade partner of Vietnam. With the results and potential for cooperation between the two countries, the Minister expressed confidence that the two countries will complete the turnover target of 150 billion USD by 2030.
To realize this, the two Ministers agreed to devote all resources to urge relevant parties to implement the "Action Plan to implement the bilateral trade turnover target of 150 billion USD towards more balance by 2030" signed in April 2025. Accordingly, the two sides will coordinate and implement in the following priority areas of cooperation:
Regarding trade, strengthen cooperation, support connecting the Vietnam - Korea business community; promote market opening for agricultural products of the two countries; strengthen cooperation in the field of logistics, build logistics centers to improve the ability to connect the supply chain, shorten delivery time, reduce transportation costs, facilitate faster circulation of goods between the two countries; enhance information exchange, policies related to trade defense, food hygiene and safety and quarantine.
In industry, support each other in the field of supplying and training high-quality human resources in the field of shipbuilding; continue to support businesses in technological cooperation for the essential mineral supply chain, to ensure stable and sustainable supply for emerging industries such as battery production, renewable energy, electric vehicles and high technology.
Regarding energy, Minister Nguyen Hong Dien suggested that Korean enterprises, with their extensive capacity and experience, continue to cooperate in investment and development in the fields of renewable energy and new energy such as hydrogen and nuclear power.
Regarding nuclear power cooperation, Minister Kim Jung Kwan affirmed that South Korea has sufficient experience and conditions to cooperate with Vietnam, with three key factors: technology, capital and human resource training. Based on the close, comprehensive and long-term relationship between the two countries, the Minister emphasized that South Korea is ready to accompany Vietnam to successfully develop the nuclear power program.
At the meeting, the two Ministers presented the "Memorandum of Understanding on the Project of the Center for Technology Cooperation of the Essential Mineral Supply Chain in Vietnam" between the Korea Institute for Technology Development and the Institute of Mining and Metallurgy Science and Technology, Ministry of Industry and Trade of Vietnam.
In the first 7 months of 2025, the total import-export turnover between Vietnam and Korea reached 50 billion USD, an increase of 7.3% over the same period in 2024. Of which, Vietnam's export turnover to Korea reached 16.3 billion USD, up 11.8%, Vietnam's import turnover from Korea reached 33.7 billion USD, up 5.3%.
