Vietnam urges South Korean firms to invest in semiconductors and AI data centers

South Korea’s parliamentary speaker welcomed Vietnam’s National Assembly chairman to Seoul as the first foreign guest after South Korea’s legislature completed its new leadership arrangements. Cho Jeong Sik hosted the official reception and talks with Tran Thanh Man on Sept. 7.

Cho praised Vietnam’s development achievements and growing international standing, saying South Korea was ready to accompany the country in its next phase of development. He called on Vietnam’s government and legislature to continue improving laws so South Korean companies could invest in Vietnam with confidence over the long term.

Cho also agreed to Tran’s proposal to support Vietnamese citizens and businesses in South Korea. He said South Korea would create favorable conditions for Vietnamese people to live, work and integrate, including children from Vietnamese-Korean multicultural families.

Tran praised the South Korean National Assembly’s role and Cho’s focus on delivering tangible results, widening public participation, and strengthening legislation on future industries, digital transformation and artificial intelligence. He urged South Korea’s parliament to encourage companies to expand investment in Vietnam, particularly in infrastructure, semiconductors, large AI data centers, energy and seaports. He also called for deeper Vietnamese participation in South Korean production supply chains and greater market access for goods from both countries.

The two sides agreed to maintain regular high-level strategic exchanges and pursue a new vision for economic links. They set a target of $100 billion in bilateral trade in 2026 and $150 billion by 2030, with a focus on balanced and sustainable growth. They also agreed to prioritize grants and concessional official development assistance for Vietnamese projects, and to make science and technology a driving force in bilateral relations.