President Lee calls Vietnam an 'optimal partner' for Korea at business forum in Hanoi
Published: 23 Apr. 2026, 21:53
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- SARAH KIM
- [email protected]
![President Lee Jae Myung, front row center, poses for a commemorative photo with Vietnamese Prime Minister Le Minh Hung, front row fourth from right, and Korean and Vietnamese business leaders at the Korea-Vietnam business forum held at a hotel in Hanoi on the April 23. Some the heads of Korea’s top conglomerates that joined Lee’s business delegation for the state visit to Vietnam include Samsung Electronics Executive Chairman Lee Jae-yong, front row second from left, SK Group Chairman Chey Tae-won, fourth from left, and LG Group Chairman Koo Kwang-mo, left. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/173bed0e-85b1-4966-b8b8-c36b8ca6c4a5.jpg)
President Lee Jae Myung, front row center, poses for a commemorative photo with Vietnamese Prime Minister Le Minh Hung, front row fourth from right, and Korean and Vietnamese business leaders at the Korea-Vietnam business forum held at a hotel in Hanoi on the April 23. Some the heads of Korea’s top conglomerates that joined Lee’s business delegation for the state visit to Vietnam include Samsung Electronics Executive Chairman Lee Jae-yong, front row second from left, SK Group Chairman Chey Tae-won, fourth from left, and LG Group Chairman Koo Kwang-mo, left. [JOINT PRESS CORPS]
HANOI — President Lee Jae Myung underscored that Korea and Vietnam are "optimal partners" amid global crises leading to economic uncertainties at a bilateral business forum in Hanoi on Thursday.
"I believe Korea and Vietnam are the optimal global partners," Lee said in his keynote address to business leaders from the two countries at a hotel in Hanoi. "Vietnam is a world-class manufacturing hub with excellent production capabilities and abundant resources. If these strengths are combined with Korea's advanced science and industrial technology, we can complete the future industrial ecosystem together."
Vietnamese Prime Minister Le Minh Hung also spoke at the Korea-Vietnam business forum, which was attended by some 500 officials and economic leaders from Korea and Vietnam. Some 250 Korean business leaders, including Samsung Electronics Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, LG Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin, Posco Holdings Chairman Chang In-hwa and HD Hyundai Chairman Chung Ki-sun, took part.
Around 250 Vietnamese business leaders also attended, including state-owned oil corporation PetroVietnam (PVN) Chairman Le Ngoc Son, Vietnam Electricity Chairman Dang Hoang An, real estate developer Sun Group Chairman Dang Minh Truong and auto manufacturer Truong Hai Group Corporation (Thaco) Chairman Tran Ba Duong.
Vietnam is Korea's top three trading partner, trailing China and the United States, while Korea is Vietnam's largest trading partner.
Lee said that the two countries, by expanding the scope of trade and investment, can "achieve the new goal of $150 billion in trade volume by 2030," up from the current $94.6 billion.
He called for broadening the horizons of collaboration into high-tech sectors such as semiconductors and electric vehicles, and strengthening supply chain linkages for energy resources, such as rare earth elements and urea solution — essential for high-tech industries.
"We must build a robust cooperative framework to ensure that the economies of both countries are not shaken by external crises," Lee said.
He indicated that Korea is willing to cooperate as Vietnam looks to construct high-efficiency power distribution networks, such as LNG and nuclear power plants.
Over 70 memorandums of understanding were on track to be signed between companies from both countries across a wide range of sectors, including advanced technology, consumer goods, infrastructure, energy and finance during President Lee's state visit to Vietnam, the Blue House said. Lee was flanked by a large business delegation on his four-day trip to Hanoi.
The forum provided a platform to discuss ways to strengthen strategic cooperation and develop industrial ecosystems for components, electric power and AI.
![SK Group Chairman Chey Tae-won, who heads the Korea Chamber of Commerce and Industry (KCCI), speaks at the Korea-Vietnam business forum at a hotel in Hanoi on April 23. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/442b7253-9a8b-478d-9f9f-1b34aa720862.jpg)
SK Group Chairman Chey Tae-won, who heads the Korea Chamber of Commerce and Industry (KCCI), speaks at the Korea-Vietnam business forum at a hotel in Hanoi on April 23. [JOINT PRESS CORPS]
Chey said that in terms of trade and investment it's time to go beyond quantitative expansion and pursue higher value-added cooperation in areas such as advanced manufacturing, services and digital industries. He added that there is "significant room for cooperation between our two countries in renewable energy and environmentally friendly industries."
"AI is fundamentally transforming the industrial landscape," Chey said. "When Korea's technological capabilities are combined with Vietnam's young and dynamic talent, the potential synergy will be tremendous."
National Security Adviser Wi Sung-lac said in a press conference Thursday that during Lee and President To Lam's summit, the two sides discussed a range of infrastructure projects including an export contract for rolling stock for the Ho Chi Minh City Metro.
Hyundai Rotem on Thursday won a 491 billion won ($332 million) contract to supply unmanned trains for Ho Chi Minh City's Metro Line No. 2, set to operate starting 2030. The Korean rails systems manufacturer, an affiliate of Hyundai Motor Group, also signed a deal with Vietnam's Thaco to provide signaling systems for the rail line.
![Lotte Group Chairman Shin Dong-bin, left, chats with LG Chairman Koo Kwang-mo, at the Korea-Vietnam business forum at a hotel in Hanoi on t]he April 23. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/a9245fab-94b4-4109-b49d-992b401c5388.jpg)
Lotte Group Chairman Shin Dong-bin, left, chats with LG Chairman Koo Kwang-mo, at the Korea-Vietnam business forum at a hotel in Hanoi on t]he April 23. [JOINT PRESS CORPS]
He said the two sides plan to establish a Korea-Vietnam critical mineral supply chains technology cooperation center.
Doosan Enerbility signed separate MOUs with two subsidiaries of PVN for cooperation on possible new nuclear power plants and the development of supply chains. Kepco and private Korean companies are joining hands as "Team Korea" to participate in the bidding war for new nuclear power plant projects in Vietnam.
"The Korean government will serve as a reliable compass and pillar of support so that companies from both nations can navigate through rough waves and write a new era of prosperity," Lee said to the business leaders.
![Korean President Lee Jae Myung, left, shakes hands with Vietnamese Prime Minister Le Minh Hung ahead of their talks in Hanoi on April 23. [JOINT PRESS CORPS]](https://koreajoongangdaily.joins.com/data/photo/2026/04/23/8b64d513-6362-4401-bef8-9d95079accf3.jpg)
Korean President Lee Jae Myung, left, shakes hands with Vietnamese Prime Minister Le Minh Hung ahead of their talks in Hanoi on April 23. [JOINT PRESS CORPS]
"I ask for your deep interest and consideration so that the Korean government can work together with the Vietnamese government to create a new 'Miracle on the Red River' by strengthening strategic cooperation in nuclear power, transportation infrastructure and energy, which are new growth engines for economic development," Lee said, referring to the main river running through Hanoi, in a nod to the Miracle on the Han River, symbolic of Korea's rapid postwar economic growth.
Hung, Vietnam's No. 2 official and a former governor of the State Bank of Vietnam, is the country's economic commander-in-chief and was elected for a five-year term earlier this month.
"Vietnam is currently striving to become a high-income developing country equipped with modern industries by 2030 and a high-income developed country by 2045," Hung told Lee.
Lotte Group Chairman Shin Dong-bin, left, chats with LG Chairman Koo Kwang-mo, at the Korea-Vietnam business forum at a hotel in Hanoi on t]he April 23. [JOINT PRESS CORPS]
"I look forward to Korea cooperating and supporting Vietnam in achieving these goals," Hung said.
"Korea wishes to join Vietnam in achieving its growth goals as a reliable cooperative partner," Lee said, referring to Vietnam's national transformation plan.
He noted that the "success of Vietnam, the driving force of regional economic growth, is the success of us all."
Later, Lee met with Vietnam's National Assembly Chairman Tran Thanh Man, the country's No. 3 official.
The parliamentary chairman also hosted a luncheon for Lee.
Over the course of two days, Lee has held talks with Vietnam's top three leaders, further solidifying the partnership between the two countries.
National Security Adviser Wi told reporters that President Lee specifically requested cooperation from Prime Minister Hung "to ensure predictable and stable business operations for Korean companies in Vietnam, as well as convenient residency for the 200,000 Korean compatriots living abroad."
The president also asked National Assembly Chairman Man to provide concrete legislative support for bilateral issues. Wi added.
BY SARAH KIM [[email protected]]
with the Korea JoongAng Daily
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