Na Ki Hong, CEO of Samsung Electronic Vietnam

At the Vietnam-South Korea Economic Forum on April 23 in Hanoi, senior leaders and corporate executives from both countries outlined plans to expand collaboration, from smart manufacturing and AI applications to semiconductors and next-generation infrastructure. The event also saw the signing of 73 cooperation agreements, underscoring growing business confidence.

Na Ki Hong, CEO of Samsung Electronic Vietnam highlighted ongoing efforts to support Vietnamese firms in upgrading production capabilities and developing smart factories, as part of a broader strategy for shared prosperity.

The company is also expanding programmes to train and develop Vietnam’s technology workforce, reinforcing its long-term commitment to strengthening bilateral cooperation.

According to the Korea Institute of Science and Technology (KIST), both countries are moving towards a “shared innovation community” centred on advanced sci-tech, built on South Korea’s experience and Vietnam’s growth potential.

“A joint innovation ecosystem should be built around three pillars of talent, science and technology, and industry, leveraging Korea’s expertise and Vietnam’s dynamism,” said KIST president Oh Sang-rok.

He added that the two sides could jointly address industrial and social challenges through collaborative research and by applying South Korean AI factory solutions in Vietnamese enterprises as test beds. This could accelerate digital transformation and enhance value-added in manufacturing.

Beyond this, Vietnam’s rare earth and biological resources, combined with South Korea’s advanced materials and processing technologies, could help diversify global supply chains and support the development of new industries.

South Korea is also expected to transfer proven capabilities in semiconductor manufacturing, helping lay the foundation for Vietnam’s chip industry while enabling both countries to move into higher-value sectors.

Vietnamese technology firms are also positioning themselves as key partners in this next phase of cooperation.

Nguyen Trung Chinh, chairman of CMC Corporation, said the company was scaling up investment in digital and data infrastructure, with plans to develop up to 150MW of capacity over the next five years, requiring total investment of between $2 billion and $5 billion.

“We welcome South Korean partners to collaborate on these projects. Our priorities include co-developing core technologies, advancing AI applications in real business environments, and working together on next-generation AI chips,” he said.

He added that CMC aims to act as a bridge connecting Vietnam’s innovation ecosystem with South Korea’s technological strengths to create shared value.

Meanwhile, Truong Gia Binh, chairman of FPT Corporation, pointed to three major global shifts shaping the business landscape: rising uncertainty, the disruptive impact of AI, and intensifying competition, particularly from China.

“AI is central to how both Vietnamese and South Korean businesses can respond to these challenges,” he said.

Binh proposed establishing a Vietnam-South Korea strategic technology committee to accelerate cooperation in key areas such as AI, semiconductors, unmanned aerial vehicles, quantum technologies and cybersecurity, with strong backing from both governments.

At the forum, Minister of Finance Ngo Van Tuan and South Korea’s Minister of Trade, Industry and Energy Kim Jung Kwan witnessed the signing of 73 agreements, including memoranda of understanding, investment approvals and investment certificates.

Business leaders say these developments reflect a shift in Vietnam-South Korea cooperation, from scale to quality, with greater emphasis on technology, innovation and resilient supply chains.

“For Korean businesses, Vietnam is not only a promising market but also a long-term partner for shared growth. Today’s signing ceremony marks a new step forward in expanding Vietnam-South Korea cooperation,” said Chey Tae-won, chairman of the South Korea Chamber of Commerce and Industry.

With strong alignment between governments and businesses, both sides are now looking to translate these commitments into tangible projects, positioning Vietnam and South Korea as key partners in the next wave of regional and global growth.