June marks exactly 1 year since the administration of South Korean President Lee Jae Myung came into operation. Taking power after the early presidential election, Mr. Lee did not have a transition period as usual but had to immediately take over the old apparatus, while consolidating the organization and building plans for the new term. After a year, the Lee Jae Myung administration gradually stabilized its operations, striving to restore people's trust after the deep political crisis in South Korea.
Thanks to the government's timely economic recovery and support packages, the Korean economy recovered clearly from the second half of 2025. GDP growth in the first quarter of 2026 reached over 3%, much higher than the growth rate for the whole year of 2025; domestic investment, manufacturing, services and consumer confidence all improved. Exports continued to set records, mainly thanks to semiconductors and cosmetics. In particular, the Korean stock market increased sharply, KOSPI surpassed the 5,000-point mark earlier than expected and at one point surpassed 8,000 points in the May 15 session, making Korea one of the markets attracting international investors.
To cope with social problems such as low birth rates, population aging and support for workers, President Lee Jae Myung's administration implemented many welfare packages. Including policies to support children up to 9 years old, supporting living and social integration for the elderly. In addition, with the goal of making Korea a cultural industrial power, President Lee Jae Myung's administration also promotes and expands the export market of cultural products abroad.
President Lee Jae Myung's administration also made efforts to quickly regain international trust and position after the martial law political crisis.
With the policy of "Practical diplomacy reaching out to the world" taking national interests as the center, President Lee Jae Myung's administration skillfully led APEC 2025 in Gyeongju to successfully conclude, strengthen the Korea-US and Korea-US-Japan alliance, and at the same time restore and develop stable relations with China, and well manage relations with Russia. South Korea has reached a historic agreement with the US on nuclear submarines and shipbuilding, proactively reducing tensions with North Korea, and strengthening national defense and security.
In addition, President Lee Jae Myung's administration has also strengthened diplomacy with international organizations, ASEAN countries, MENA... to enhance national interests and positions.
As a comprehensive strategic cooperation partner and a leading partner of Vietnam in many fields, the stability and development of Korea in the past year under the administration of President Lee Jae Myung has created more favorable conditions for bilateral cooperation relations.
The visit to South Korea (August 10-13, 2025) and the visit to Vietnam (April 21-24, 2026) by the leaders of the two countries are both the first state visits immediately after the consolidation of the State apparatus, showing the special relationship between the two sides. On the solid foundation of Vietnam-Korea cooperation over the past 30 years, the leaders of the two sides are committed to bringing the Comprehensive Strategic Partnership relationship into depth, substance, efficiency and moving to a new stage. Innovative cooperation between the two countries in artificial intelligence, semiconductors, digital transformation, green energy, global governance... will be the pillars in the new stage.
