Vietnamese Prime Minister Le Minh Hung (3rd, left), and South Korean President Lee Jae Myung (2nd, left) at the Viet Nam–South Korea Economic Forum, Ha Noi, April 23, 2026. Photo: VGP

These MoUs were inked at the Viet Nam–South Korea Economic Forum held in Ha Noi on April 23, in the presence of Vietnamese Prime Minister Le Minh Hung and Korean President Lee Jae Myung, as part of the latter's ongoing state visit to Viet Nam.

Under the theme "Advancing Industry, Investment and Science-Technology Partnership," the forum brought together senior Government officials and representatives of leading enterprises from both countries, including major multinational corporations across key industries. The participants emphasized the importance of strengthening bilateral cooperation in industry, investment and science-technology.

Addressing the forum, Prime Minister Le reaffirmed Viet Nam's commitment to continuing reforms aimed at improving the investment climate and supporting long-term, sustainable operations for foreign businesses, including those from South Korea. President Lee, in turn, praised Viet Nam's dynamic development, describing it as an "economic heart" of ASEAN, and expressing  confidence that enterprises from both nations will play a central role in driving future prosperity.

Reviewing key milestones in bilateral relations, President Lee outlined three priority areas for future cooperation. In addition to traditional strengths such as electricity, electronics and automobiles, he called for joint development of emerging industries, particularly artificial intelligence, semiconductors and digital technologies. He also stressed enhancing collaboration in energy and supply chains, including renewable energy, nuclear power, oil and rare earths.

In reply, President Lee further underscored the need to deepen cooperation in science, technology and innovation through the development of a Viet Nam–South Korea master plan on science and technology innovation, aimed at opening a new chapter in bilateral scientific collaboration.

He highlighted that the enduring friendship between the two countries over the past three decades provides a strong foundation to navigate global uncertainties, reaffirming South Korea's role as a reliable partner for businesses from both sides.

Vietnamese Prime Minister Le Minh Hung, South Korean President Lee Jae Myung, Government officials and business leaders from Viet Nam and South Korea to the Viet Nam–South Korea Economic Forum, Ha Noi, April 23, 2026. Photo: VGP

At the forum, the participants stressed the need to advance bilateral cooperation in three key pillars: industry, with a focus on high technology and greater value addition; investment, emphasizing quality, sustainability and stronger linkages with domestic enterprises; and science and technology, particularly innovation, digital transformation and emerging fields.

Cooperation between Viet Nam and South Korea has expanded robustly, especially after the two countries upgraded ties to a comprehensive strategic partnership in 2022, which marked an important milestone and opened up new room for bilateral cooperation, particularly in the economic sphere.

South Korea is now Viet Nam’s largest foreign investor and third-largest trading partner, with nearly 10,500 valid projects worth over US$100 billion. The East Asian country’s investment has created close to one million jobs and contributed more than 30 percent of Viet Nam’s total export turnover, while playing an important role in shaping and developing the Southeast Asian country’s key industries, from electronics and manufacturing to high technology./.