President Lee Jae-myung and General Secretary Lum of the Communist Party of Vietnam adopted the 'Joint Declaration on Deepening the Comprehensive Strategic Partnership between Korea and Vietnam' on the 11th.
The two leaders agreed to specify cooperation plans in six areas: diplomacy and security, economy and infrastructure, Mirae Industries, support for people and corporations, education and culture, and international cooperation, and to expand the trading volume to $150 billion by 2030.
President Lee noted during a joint press conference after the summit held at the Yongsan Presidential Office that "cooperation between Korea, a global responsible power that practically responds to changes in the world order, and Vietnam, which aims to become a high-income advanced country by 2045, is more important than ever."
He continued, "Based on this common understanding, we adopted the 'Joint Declaration on Deepening the Comprehensive Strategic Partnership between Korea and Vietnam' and agreed to further develop cooperation between the two countries in a more comprehensive and future-oriented manner."
On the occasion of the summit, the two countries also exchanged 10 memorandums of understanding (MOU) related to science and technology, renewable energy, finance and capital markets, education, fisheries, and nuclear power workforce training.
The joint declaration includes measures to enhance political trust and diplomatic and security cooperation between the two countries. The two countries agreed to actively cooperate to successfully host the APEC summit meetings to be held in Gyeongju and Phu Quoc this year and in 2027, and continue high-level exchanges through multilateral forums such as the ASEAN summit. Presidents Lee and Lum also shared the intention to deepen cooperation in defense and arms industry, as well as enhance cooperation in the areas of security and public safety, including joint responses to non-traditional security threats and transnational crime.
In the economic sector, they agreed to increase the trading volume to $150 billion by 2030. President Lee stated, "As we mark the 10th anniversary of the Korea-Vietnam Free Trade Agreement coming into effect this year, both countries have agreed to further intensify efforts to achieve the $150 billion trade volume target by 2030."
In particular, they agreed to strengthen cooperation in monetary policy and financial stability by signing an MOU between their Central Banks and to enhance collaboration in major infrastructure projects such as nuclear power, high-speed rail, and new city development.
During the meeting, President Lee said, "Vietnam's new nuclear power construction project and the North-South high-speed rail construction project are important for ensuring stable power supply and establishing a modern transportation and logistics system," adding, "I hope successful cooperation cases arise based on the excellent technology and rich experience of our corporations." In response, Secretary Lum replied, "I am well aware of the outstanding competitiveness of Korean corporations and will actively consider their participation."
The two countries plan to cultivate specialized personnel for Vietnam's nuclear power industry through an 'MOU on cooperation in nuclear power workforce training' and to expand cooperation throughout the entire process, including construction and operation.
Additionally, they agreed to closely cooperate in future industries such as AI, bio, renewable energy, and supply chains for critical minerals. To this end, they strengthened the capabilities of the Korea-Vietnam Science and Technology Institute (VKIST) and signed a new MOU for fostering and exchanging scientific and technological talents between the two countries. Cooperation in renewable energy development, expansion of power networks, construction of smart grids, and core mineral cooperation combining Vietnam's abundant rare earths with Korea's processing and utilization technology was also agreed to be expanded.
The two countries also agreed to strengthen support for overseas Koreans and multicultural families based on human exchanges exceeding 5 million last year. Furthermore, they agreed to promote the protection of cultural content and industrial exchange through the newly signed 'MOU on exchange cooperation in the field of copyright and neighboring rights.'
Moreover, they agreed to continue close cooperation to achieve peace on the Korean Peninsula and resolve the North Korean nuclear issue. Vietnam expressed its support for the resumption of dialogue and cooperation between the North and South, stating its intention to actively contribute to peace and stability on the Korean Peninsula.