President Vo Van Thuong hosts a welcome ceremony for RoK President Yoon Suk Yeol (Photo: VOV)

During the talk, the two Presidents agreed to deepen bilateral ties  and work closely to implement the bilateral free trade agreement and create favorable conditions for their businesses to raise bilateral trade to 100 billion USD and move toward 150 billion USD by 2030.

The RoK agreed to open market for Vietnamese agricultural and fishery products and fruits and help Vietnamese businesses engage more in the global supply chains of Korean businesses.

The two leaders welcomed the signing of a cooperation agreement worth 2 billion USD through the Economic Development Promotion Facility (EDPF) to realize large-scale development investment projects in transport and urban infrastructure in Vietnam. The RoK continues to consider Vietnam a strategic partner of ODA and wants to expand non-refundable aid for Vietnam, said the RoK President.

The two leaders discussed regional and global issues of mutual concern and agreed to work closely and support each other at international forums and further cooperation in coping with global challenges.

This is President Yoon Suk Yeol’s first visit to Vietnam since he took office and Vietnam is the first Southeast Asian country that Mr. Yoon Suk Yeol has visited.

The RoK President is accompanied by the Deputy Prime Minister in charge of Economics and Minister of Strategy and Finance Choo Kyung Ho and other Ministers and leaders of ministries and various sectors. 200 Korean businesses including leaders of major groups such as Samsung, SK, Hyundai, Daewoo came to Vietnam on this occasion to seek business opportunities.

The visit is the start of stronger comprehensive strategic partnership set up in 2022 between the two countries.