Prime Minister Pham Minh Chinh holds a working session with RoK Ambassador to Vietnam Choi Young Sam

The session aimed to concretizing the content of the phone talks between Party General Secretary and President To Lam and RoK President Yoon Suk Yeol, as well as review the implementation of agreements reached during PM Chinh's recent visit to the RoK.

The PM asked the ambassador to actively work with relevant Vietnamese and Korean agencies to realize 41 cooperation documents signed by the two countries’ Governments, businesses and localities.

To achieve a two-way trade of 100 billion USD by 2025 and 150 billion USD by 2030, PM Chinh called for effective measures to ensure balanced and sustainable trade. He requested the expedited removal of import quotas on Vietnamese shrimp and measures to enhance the capacity of Vietnamese firms to integrate more deeply into the global supply chain, particularly within the ecosystem of Korean companies.

PM Chinh encouraged Korean companies to expand investments in Vietnam, particularly in digital transformation, green economy, high technology, semiconductor manufacturing, biotechnology, and smart city development.

He also called for increased cooperation in small and medium-sized enterprises, startups, and human resources training in high technology, digital transformation, semiconductors, and artificial intelligence (AI) and consideration a significant credit package with favorable interest rates for strategic infrastructure development in Vietnam, especially for major transportation projects such as high-speed railway and large-scale urban railway systems.

Ambassador Choi affirmed that the RoK is actively working to realize high-level agreements and prepare for upcoming high-level visits by leaders of both countries. He noted that the RoK stays ready to assist Vietnam in hosting the fourth Partnering for Green Growth and the Global Goals 2030 Summit, and considers the opening of a Vietnamese Consulate General in Busan.

He highlighted ongoing efforts to raise two-way trade to the targeted levels, finalize agreements on mutual recognition of priority enterprises, and negotiate permission for the import of additional agricultural and seafood products from each country annually.

The RoK wishes to extend cooperation, investment and business activities in Vietnam across finance, pharmaceuticals, environmental protection, energy, minerals, strategic infrastructure, labour and employment, he said, hoping that Vietnam would ensure the necessary infrastructure, mechanisms and policies to facilitate stable and effective operations of Korean enterprises.