S. Korea, Vietnam agree to bolster strategic partnership

President Lee Jae Myung hosted Vietnam's political leader To Lam today in Seoul to bolster cooperation in a host of areas.

One particular focus was on sharply increasing bilateral trade volume.

Our Presidential Office Correspondent Yoon Jung-min reports.

The summit began on a friendly note, with a handshake and a gun salute to welcome Vietnam's top political leader.

"You are the first state guest since the launch of the new government of the Republic of Korea. It shows that we highly value Vietnam."

The sentiment was mirrored by Vietnam's Communist Party leader, To Lam, as he invited President Lee and the first lady to Vietnam in the near future.

"I'm honored to be invited. I congratulate President Lee Jae Myung for being elected as the 21st President of the Republic of Korea."

Monday's summit talks yielded deliverables to further deepen the South Korea-Vietnam Comprehensive Strategic Partnership.

"Marking the 10th anniversary of the bilateral FTA this year, the two countries will bolster efforts to achieve the goal of increasing bilateral trade to US$ 150 billion by 2030."

Last year, bilateral trade reached nearly 87-billion dollars, with Vietnam being South Korea's third-largest trading partner.

There are other areas of cooperation.

"We agreed to focus on developing strategic infrastructure, such as infrastructure related to transportation, energy, digital and climate change."

South Korea hopes to take part in large-scale infrastructure projects in Vietnam, including its nuclear power plant project and North-South express railway project.

Focus was also on strengthening cooperation on AI, renewable energy, critical minerals and copyright, for which an array of MOUs were signed.

And the meeting was crucial in more ways than one.

The new South Korean leader shared his vision for peace and prosperity on the Korean Peninsula, as Lam welcomed the South Korean government's efforts to resume dialogue with North Korea.

The Vietnamese leader, for his part, noted the importance of peace and freedom of navigation in the South China Sea.

On the diplomatic front, the two leaders agreed upon cooperation on multilateral forums, as South Korea and Vietnam serve as hosting countries of the APEC summit in 2025 and 2027, respectively.

Also, exchanges will be expanded at parliamentary and municipal levels.

And as a clear reflection of the importance of people-to-people and cultural exchanges, first lady Kim Hea Kyung hosted the spouse of Vietnam's top leader, Ngo Phuong Ly at the National Museum of Korea in Seoul.

To Lam's visit to Korea the first of its kind in 11 years involves a dinner hosted by the South Korean President with heads of major South Korean businesses, including SK and Hyundai Motor groups.

Seoul's top office says Monday's summit signals the start of Lee's "pragmatic diplomacy" in earnest. This comes at a time when the global trade environment is becoming increasingly unstable.

Yoon Jung-min, Arirang News.