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Vietnam and South Korea Forge Strategic Alliance Beyond Manufacturing, Focusing on Future Industries
🇻🇳 Vietnam /Economy & Trade

Vietnam and South Korea Forge Strategic Alliance Beyond Manufacturing, Focusing on Future Industries

From Tuổi Trẻ · (11m ago) Vietnamese Positive tone

Translated from Vietnamese, summarized and contextualized by DistantNews.

TLDR

  • South Korean President Lee Jae-myung held talks with Vietnamese Prime Minister Le Minh Hung and National Assembly Chairman Tran Thanh Man.
  • The leaders co-chaired a roundtable discussion and economic forum with businesses from both nations, including major corporations like Samsung, SK, Hyundai Motor, and LG.
  • Discussions focused on strengthening strategic alliances beyond manufacturing, emphasizing supply chain resilience, future industries like AI and EVs, and green energy.

President Lee Jae-myung's state visit to Vietnam marks a significant deepening of the strategic partnership between South Korea and Vietnam, moving beyond traditional manufacturing ties to forge alliances in future industries. The presence of a large business delegation accompanying President Lee underscores the mutual recognition of Vietnam's growing importance not just as a production base, but as a crucial hub for supply chain resilience and technological advancement.

Discussions during the visit highlighted a paradigm shift in the bilateral economic relationship. Experts note that Korean conglomerates are increasingly viewing Vietnam not merely as a low-cost manufacturing site, but as a strategic partner for enhancing supply chain stability and developing cutting-edge sectors. This includes collaboration in areas such as semiconductor post-processing, AI data centers, and the electric vehicle value chain, leveraging South Korea's technological prowess and Vietnam's robust manufacturing capabilities.

Mối quan hệ Hàn - Việt đã hoàn toàn chuyển đổi từ "cơ sở sản xuất phụ trợ" thành "liên minh chiến lược cho các ngành công nghiệp tương lai"

— TS Kwak Sung IlDirector of the Center for Emerging Economies Research at the Korea Institute for International Economic Policy, commenting on the evolving nature of the Korea-Vietnam relationship.

Furthermore, the focus on renewable energy and green infrastructure aligns with Vietnam's ambitious net-zero emission goals, signaling a shared commitment to sustainable development. The visit also acknowledged the historical significance of Korean investment in Vietnam, dating back to the 2008 financial crisis, which established Vietnam as a vital global export platform, exemplified by Samsung's success. Now, with its large population and dynamic market, Vietnam is poised to become a key launchpad for the globalization of Korean services, integrating it more deeply into South Korea's core supply chains.

Việt Nam cần được tích hợp như một thành viên thường trực trong chuỗi cung ứng cốt lõi của Hàn Quốc, thay vì chỉ được coi là một địa điểm sản xuất tạm thời

— TS Kwak Sung IlEmphasizing the need for Vietnam's deeper integration into South Korea's supply chains.
DistantNews Editorial

Originally published by Tuổi Trẻ in Vietnamese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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