Prime Minister Pham Minh Chinh meets with President of South Korea

President Yoon Suk Yeol expressed his pleasure to meet Prime Minister Pham Minh Chinh again and warmly welcomed the official visit of Prime Minister Pham Minh Chinh and the high-ranking Vietnamese delegation to Korea; affirmed that this visit of Prime Minister Pham Minh Chinh will make an important contribution to promoting the effective implementation of the Action Program to implement the comprehensive strategic partnership that was upgraded in December 2022; emphasized that Korea considers Vietnam a leading important partner in implementing policies in the region, including the Indo-Pacific Strategy and the Association of Southeast Asian Nations (ASEAN) - Korea Solidarity Initiative of Korea.

Prime Minister Pham Minh Chinh conveyed the warm regards of General Secretary Nguyen Phu Trong, President To Lam and other senior Vietnamese leaders to President Yoon Suk Yeol; expressed his joy at his first official visit to Korea as Prime Minister; thanked the warm, respectful and thoughtful reception that the Korean leaders and people had given to the delegation; congratulated the Korean country under the leadership of the President on its many important achievements and milestones, demonstrating the vision of a "Global Key Country"; highly appreciated the President's drastic efforts to lead the Korean economy to return to positive growth, while continuously introducing many policy initiatives to bring many benefits to the Korean people; affirmed that Vietnam supports the major policies of the Republic of Korea and is ready to continue to closely coordinate so that Vietnam and the Republic of Korea can be more successful together, for the benefit of the people of the two countries, while contributing responsibly to maintaining peace, stability, cooperation and development in the region and the world.

Prime Minister Pham Minh Chinh informed President Yoon Suk Yeol of the important results achieved by the two sides during the talks between the two Prime Ministers, including major orientations to promote the comprehensive strategic partnership to continue to develop more deeply, substantially and effectively in the coming time, as well as the rapid and substantial progress of the bilateral cooperation between Vietnam and the Republic of Korea in recent times. Prime Minister Pham Minh Chinh also suggested that the two sides continue to maintain and enhance the exchange of delegations at all levels; continue to regularly implement existing cooperation mechanisms in the fields of diplomacy, defense and security, in accordance with the level of comprehensive strategic partnership.

The two leaders agreed to cooperate closely to deepen economic relations and bring them to practical effectiveness, thereby contributing to achieving the bilateral trade turnover target of 100 billion USD by 2025 and towards the target of 150 billion USD by 2030.

In that spirit, Prime Minister Pham Minh Chinh proposed that the two sides cooperate to encourage Korean enterprises to increase investment in the fields of semiconductors, digital transformation, green transformation, and biotechnology; urge the Korean Government to increase investment in projects with high technology content and high added value; cooperate in training human resources in the fields of semiconductors, hydrogen, and artificial intelligence (AI); propose promoting loans through the Economic Development Promotion Fund (EDPF) worth 2 billion USD and non-binding loan conditions for loans from the Economic Development Cooperation Fund (EDCF) worth 2 billion USD to develop strategic infrastructure such as building high-speed railways.

President Yoon Suk Yeol said that Korean enterprises consider Vietnam a potential investment destination and many Korean enterprises investing in Vietnam have created a favorable investment ecosystem; proposed to create conditions for Korean enterprises to participate in key projects in Vietnam, including energy and LNG projects; affirmed that he will support human resource training for Vietnam to serve the development of the semiconductor and high-tech industries; and support Vietnam in developing the cultural industry. President Yoon Suk Yeol said that Vietnam is the first country to sign the Agreement on Climate Change with Korea; affirmed that he will support Vietnam in successfully organizing the Partnership for Green Growth and the Global Goals 2030 (P4G) Summit in April 2025.

The two sides agreed to expand cultural, educational and tourism cooperation, enhance cooperation between localities and people-to-people exchanges to create connections and understanding between the people of the two countries; agreed to cooperate closely to protect the legitimate rights of citizens of each country in the other country, helping them stabilize their lives and stay safe; and pay attention to supporting Vietnamese-Korean multicultural families.

At the meeting, Prime Minister Pham Minh Chinh and President Yoon Suk Yeol agreed to continue to cooperate closely and support each other in international and regional forums of mutual interest; continue to strengthen cooperation within ASEAN frameworks such as ASEAN - Korea, Mekong - Korea. President Yoon Suk Yeol highly appreciated Vietnam's excellent performance as the coordinator of ASEAN - Korea relations and proposed to continue supporting the upgrading of ASEAN - Korea relations to a comprehensive strategic partnership; welcomed the stance of Vietnam and ASEAN on the East Sea issue, aiming to contribute to maintaining peace, stability and development in the region.