President Lee Jae-myung Aims for 'Red River Miracle' with Vietnam, Secures 73 MOUs

President Lee Jae-myung's state visit to Vietnam marks a significant step in strengthening the strategic partnership between our nations. His address to Prime Minister Le Minh Hung underscored a shared vision for economic prosperity, with South Korea offering its expertise and resources to help Vietnam achieve its ambitious goal of becoming a high-income country by 2045 – a vision Lee termed the "Red River Miracle."

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South Korea, as a reliable cooperative partner, wants to be together in achieving Vietnam's growth goals.

Lee drew parallels between Vietnam's aspirations and South Korea's own development journey, famously known as the "Miracle on the Han River." He emphasized how focused investment in critical infrastructure – namely nuclear power for energy independence, efficient transportation networks, and a transparent financial system – propelled South Korea's economy forward in a remarkably short period. This historical context provides a powerful narrative for cooperation, suggesting that Vietnam can replicate this success with South Korea as a trusted partner.

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We can create a new 'Red River Miracle' together by strengthening strategic cooperation in nuclear power, transportation infrastructure, and energy, which are new growth engines for economic development.

The tangible outcomes of the visit, including 73 MOUs signed between businesses in crucial sectors like AI, digital infrastructure, and energy, demonstrate the strong commercial interest and potential for mutual growth. This economic diplomacy is vital, showcasing how collaboration can yield concrete benefits for both nations. From our perspective, this isn't just about economic transactions; it's about building a future together, leveraging shared experiences and a commitment to innovation. The focus on strategic industries like nuclear power and advanced digital infrastructure signals a forward-looking approach, positioning Vietnam as a key player in the regional and global economy, with South Korea as a foundational partner.

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In the past, Korea focused on concentrated investment in these three core infrastructures: energy self-reliance through nuclear power, logistics innovation through highways and railways, and a transparent financial economic system. These were the decisive engines that allowed Korea to achieve economic leaps in a short period.