Korean, Vietnamese leaders discuss energy, infrastructure, trade at bilateral summit
Published: 22 Apr. 2026, 21:42
Updated: 23 Apr. 2026, 00:38
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- SARAH KIM
- [email protected]
![Korea’s President Lee Jae Myung, center right, and first lady Kim Hea Kyung, and To Lam, center left, Vietnam's president and the Communist Party's general secretary, and first lady Ngo Phuong Ly, pose for a commemorative photo at a welcome ceremony at the presidential palace in Hanoi, ahead of the two leaders’ bilateral summit on April 22. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/e7d607d8-41b6-4ad0-ad6f-6623b027aa85.jpg)
Korea’s President Lee Jae Myung, center right, and first lady Kim Hea Kyung, and To Lam, center left, Vietnam's president and the Communist Party's general secretary, and first lady Ngo Phuong Ly, pose for a commemorative photo at a welcome ceremony at the presidential palace in Hanoi, ahead of the two leaders’ bilateral summit on April 22. [JOINT PRESS CORPS]
"Building upon our two nations' profound mutual trust, we agreed to deepen our strategic cooperation in the fields of energy and infrastructure," Lee said in a joint press conference, noting that he and Lam "concurred that bilateral cooperation has become even more important amid the supply chain instability stemming from recent volatility in the Middle East."
He added that they had "agreed to work closely together to bolster energy security and stabilize global supply chains."
The two countries further agreed to advance mutually beneficial cooperation in trade and investment, aiming to achieve $150 billion in bilateral trade by 2030, Lee said.
![Korea’s President Lee Jae Myung, left, and To Lam, Vietnam's president and the Communist Party's general secretary, shake hands ahead of their bilateral summit at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/b401e098-9595-46ef-9f36-964ea3fc9eea.jpg)
Korea’s President Lee Jae Myung, left, and To Lam, Vietnam's president and the Communist Party's general secretary, shake hands ahead of their bilateral summit at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]
The latest summit was an occasion to discuss ways for Korean companies to directly participate in Vietnam's national strategic projects, such as the construction of nuclear power plants, new cities and airports.
"Korea is an ideal partner for realizing Vietnam's vision of becoming a developed, high-income country by 2045," Lee said during the press conference alongside Lam, highlighting that the two countries are advancing comprehensive cooperation across fields ranging from hardware sectors such as logistics, transportation, energy and infrastructure, to such future-oriented fields including science and technology, intellectual property and the creative industries.
"Vietnam welcomes increased investment by Korean companies in priority sectors, including infrastructure development, smart cities, semiconductors, the construction of large-scale AI data centers, nuclear power, smart ports and next-generation ports," Lam said during the joint press conference.
He added that the Vietnamese government will create an open and transparent investment environment and provide the greatest possible convenience so that foreign investors, including Korean companies, can invest in Vietnam in a stable and sustainable manner.
![Korea’s President Lee Jae Myung, left, and To Lam, right, Vietnam's president and the Communist Party's general secretary, hold bilateral summit talks flanked by their adies at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/5cb0893a-8858-4fec-a790-7fbae92a5faa.jpg)
Korea’s President Lee Jae Myung, left, and To Lam, right, Vietnam's president and the Communist Party's general secretary, hold bilateral summit talks flanked by their adies at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]
On Wednesday afternoon, Lam greeted Lee in a welcome ceremony at the presidential palace. The two leaders held bilateral summit talks, attended a memorandum of understanding (MOU) signing ceremony and took part in a state dinner banquet.
The two sides signed 12 MOU covering cooperation in: security protection; digital cooperation; framework of master plan on science, technology and innovation cooperation; intellectual property; power infrastructure sector; water security; animal health and quarantine; cultural cooperation for the next five years to 2030; underwater cultural heritage; safety of food, pharmaceuticals, cosmetics and medical devices; studying the possibility of cooperation for nuclear power plant development; and studying the possibility of cooperation for nuclear power project financing.
During the press conference, Lee noted that a contract will be signed on the export of Korean rolling stock for the Ho Chi Minh City Metro on Thursday, which he said will contribute to the improvement of Vietnam's railway infrastructure and serve as a "catalyst for expanding bilateral cooperation on large-scale transport and logistics infrastructure projects" currently underway in Vietnam.
A Korean company is expected to export railway rolling stock worth some $110 million for the construction of Ho Chi Minh City Metro Line 2.
Lee also called for further expanding cooperation in future-oriented areas, ranging from science and technology to climate action and the environment, as well as culture and education.
Through their Master Plan on Science, Technology and Innovation Cooperation, Korea and Vietnam agreed to strengthen cooperation in joint research across key sectors such as semiconductors, rechargeable batteries and biohealth, as well as in cultivating research talent. Likewise, the MOU on Digital Cooperation will expand cooperation in AI, chips and digital sectors, while helping Korean IT companies enter the Vietnamese market.
The state-run Korea Electric Power Corporation, or Kepco, and the Vietnam National Industry – Energy Group signed two MOUs on joint feasibility studies for the development and financing of possible nuclear power plant projects in Vietnam.
![Korea’s President Lee Jae Myung, left, and To Lam, Vietnam's president and the Communist Party's general secretary, announce the results of their bilateral summit in a joint press conference at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/0e3ef5a9-d904-4c9b-a8c7-11427f8df4f0.jpg)
Korea’s President Lee Jae Myung, left, and To Lam, Vietnam's president and the Communist Party's general secretary, announce the results of their bilateral summit in a joint press conference at the presidential palace in Hanoi on April 22. [JOINT PRESS CORPS]
Lee noted that Vietnam is the second most popular overseas destination for Koreans, with around 4.5 million Koreans visiting the Southeast Asian country each year.
Lam pledged to ensure the safety of Koreans visiting his country, as well as second-generation Korean Vietnamese, while Lee reaffirmed his commitment to protecting the rights and interests of Vietnamese workers and immigrant spouses in Korea.
Vietnam is Korea's third-largest trading partner, after China and the United States, with bilateral trade reaching a record high of $94.6 billion last year. Korea, in turn, is Vietnam's largest foreign investor, with investments totaling $56.8 billion last year.
Some 10,000 Korean businesses have entered the Vietnamese market, including the petrochemicals, shipbuilding, steel and electronics sectors.
"President Lee expressed his hope that the two countries would open new horizons for strategic cooperation, such as energy transition, through participation in Vietnam's new nuclear power plant construction and power infrastructure projects," Lee Kyu-youn, presidential secretary for public relations and communication, said in a written statement later Wednesday.
Lam was said to have shared this sentiment, stating that he hoped the two countries would further strengthen their energy security partnership to contribute to each other's sustainable development.
The two leaders also agreed to integrate Vietnam's abundant resources with Korea's technological capabilities, centering on a critical minerals supply chain center pursued by both countries.
President Lee said in a luncheon meeting with the Korean community residing in Vietnam earlier Wednesday that through his visit, he plans to "expand cooperation in strategic sectors such as nuclear power, infrastructure and science and technology innovation" and enable "higher-level cooperation on global challenges such as supply chain stability, sustainable growth and climate change response."
BY SARAH KIM [[email protected]]
with the Korea JoongAng Daily
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