Promoting economic relations on the basis of comprehensive strategic partnership
On August 12, 2025, in Seoul, Minister of Finance Nguyen Van Thang had a working session with Korean Minister of Trade, Industry and Energy Kim Jung Kwan, within the framework of activities alongside the State visit of General Secretary To Lam and his wife to Korea.
At the meeting, the two Ministers affirmed that the Vietnam - Korea relationship, since being upgraded to a Comprehensive Strategic Partnership in 2022, is developing comprehensively and becoming practical in many fields.
Minister Nguyen Van Thang congratulated Mr. Kim Jung Kwan on his appointment as Minister of Trade, Industry and Energy of the Republic of Korea, and highly appreciated the positive results that the Republic of Korea has achieved in trade negotiations with the United States.
The Minister emphasized that Korea is currently Vietnam's largest FDI partner, with nearly 94 billion USD in total accumulated registered capital and more than 10,000 operating enterprises, making an important contribution to the transformation of Vietnam's growth and economic model. He also shared about the "four pillars" that Vietnam focuses on, including science - technology, international integration, legal reform and private business development, opening up new space for bilateral and multilateral economic cooperation.
Minister Nguyen Van Thang pledged to create the most favorable conditions for an investment and business environment for Korean enterprises and FDI in general in Vietnam. He thanked the coordination of the Ministry of Commerce, Industry and Energy of Korea in successfully organizing the Vietnam - Korea Economic Forum, with the participation of General Secretary To Lam, Prime Minister of Korea Kim Min Seok and more than 500 typical enterprises, witnessing dozens of cooperation documents.
Expanding cooperation in future industrial fields
Minister Nguyen Van Thang suggested that the Korean side continue to develop policies to support businesses to expand investment, transfer technology, develop human resources and increase ODA support for Vietnam, especially in future industries such as semiconductor chips, strategic minerals, energy, high-speed railways, and marine industry. The two sides also discussed experience in state management in FDI attraction, development of economic zones, free trade zones, ODA management and support for key economic groups.
For his part, Minister Kim Jung Kwan assessed that the success of the State visit and high-level talks between the two leaders will create a solid foundation for economic and investment cooperation. He affirmed that Korea supports expanding cooperation in the supply chain, energy, high-speed railways, high technology, and hopes that Vietnam will continue to improve the investment environment and support Korean enterprises.
The two Ministers agreed to support each other and expect to meet again at the APEC 2025 Summit hosted by South Korea in October.
Korea is currently Vietnam's largest FDI partner, with a total valid registered investment capital of about 93.8 billion USD. In 2024, bilateral trade turnover will reach 81.5 billion USD, Korea will be the 3rd largest export and second largest import market of Vietnam, and the 2nd largest bilateral ODA sponsor in Asia and the largest market sending tourists to Vietnam with about 4.6 million arrivals.
