The Vietnam–Republic of Korea Comprehensive Strategic Partnership is currently at its strongest stage of development to date. The Republic of Korea remains the largest foreign investor in Vietnam, while the two countries are each other’s third-largest trading partners. More than 370,000 Vietnamese citizens currently reside in Korea, while over 200,000 Korean citizens live in Vietnam.
General Secretary To Lam was the first state guest to pay a state visit to the Republic of Korea in August 2025 following President Lee Jae Myung’s inauguration. President Lee, in turn, became the first foreign head of state to pay a state visit to Vietnam in April 2026 following the establishment of Vietnam’s new leadership.
During their summit talks, the leaders of the two countries affirmed that advancing bilateral relations is a top foreign-policy priority for both sides. They also expressed their shared commitment to making bilateral cooperation closer and more effective, in line with the framework of the Vietnam–Republic of Korea Comprehensive Strategic Partnership.
In this new era of development, the two leaders agreed on a strategic vision that goes beyond conventional economic cooperation toward deeper Vietnam–Republic of Korea economic connectivity, particularly in response to growing uncertainty and complexity in the global political and economic environment.
The two sides agreed to cooperate in jointly developing production networks, expanding market access for each other’s goods and strengthening supply-chain cooperation, including supply chains involving Korean companies, with the goal of increasing bilateral trade to USD 150 billion by 2030.
They also agreed to establish science and technology, innovation, digital transformation and human resource development as new pillars of bilateral relations. The leaders emphasized that people-to-people exchanges serve as an important foundation for friendship and mutual understanding.
Both countries committed to strengthening cooperation in culture, education and human resource development, while supporting Vietnam–Republic of Korea multicultural families as well as citizens living and working in each other’s countries. They also agreed to deepen cooperation through multilateral mechanisms and jointly address global challenges, including both traditional and non-traditional security issues.
Vietnam currently possesses several strategic advantages, including political stability, a steadily strengthened international standing and broad relations with major powers. In trade, Vietnam has joined most major trade agreements, giving Vietnamese goods greater access to global markets through preferential tariff arrangements. The country has also emerged as a leading destination in the ongoing restructuring of global supply chains.
Vietnam’s economy continues to post impressive growth of 7–8 percent and aims to achieve double-digit growth in the coming years. The country is accelerating institutional improvements and administrative reforms to simplify business conditions as much as possible and create a transparent, stable and highly predictable investment environment under the principle of “long-term mutual success and sustainable development together.”
These efforts continue to strengthen Vietnam’s strategic economic advantages.
Vietnam also has an abundant workforce capable of absorbing advanced technologies, while labor and operating costs remain reasonable relative to productivity and regional standards. Above all, Vietnam and the Republic of Korea share many cultural and historical similarities, contributing to strong connections between their people and businesses and a deep level of mutual understanding.
Vietnam is implementing a new development strategy centered on transforming its growth model and identifying science, technology, innovation and digital transformation as key growth engines. At the same time, the Republic of Korea possesses some of the world’s leading research and development capabilities.
This complementarity provides a foundation for the two countries to pursue economic cooperation in a more balanced and sustainable manner, deepen their participation in strategic supply chains and connect investment with innovation and human resource development.
Vietnam–Republic of Korea relations, therefore, are unlikely to remain limited to conventional trade and investment cooperation. They are poised to move toward a higher stage of comprehensive strategic cooperation in which the two countries jointly participate in and create new value chains both regionally and globally.
The upcoming visit to the Republic of Korea by Chairman of the National Assembly of Vietnam Tran Thanh Man from September 6 to 9, 2026, will not only provide an opportunity to strengthen cooperation between the two countries’ National Assemblies, but also create new momentum for advancing the Vietnam–Republic of Korea Comprehensive Strategic Partnership.
Beyond legislative cooperation, the two National Assemblies can play an important role in facilitating the implementation of commitments, agreements, projects and large-scale cooperation programs agreed upon by the leaders of the two countries.
To further advance the Vietnam–Republic of Korea Comprehensive Strategic Partnership in the new era and build on the achievements and benefits generated by bilateral relations, the Republic of Korea should continue to prioritize investment in Vietnam and take advantage of the strategic strengths offered by this important partner.
In particular, Vietnam should be considered a priority destination for projects requiring strategic stability and long-term investment security, including projects in high technology, semiconductors, artificial intelligence and clean energy.
To ensure mutual benefits and further consolidate bilateral cooperation, particularly by developing an investment ecosystem in Vietnam that better serves Korean investors, the Republic of Korea should actively promote technology transfer and expand R&D activities in Vietnam.
It should also strengthen linkages with Vietnamese enterprises, helping them enhance their capabilities and participate more deeply in Korean supply chains. Such cooperation can generate mutually reinforcing effects and contribute to sustainable development for both countries.
As legislative bodies, the National Assembly of the Republic of Korea and the National Assembly of Vietnam should work together to establish legal and institutional mechanisms that further facilitate investment by Korean companies in Vietnam and Vietnamese companies in Korea. Such cooperation can also help the two countries achieve their goal of raising bilateral trade to USD 150 billion by 2030 in a more balanced manner.
The two National Assemblies will also serve as key institutions in developing mechanisms to promote people-to-people exchanges and provide greater support and more favorable conditions for the Vietnamese community in Korea and the Korean community in Vietnam.
With the strong commitment and attention of the leaders and National Assemblies of both countries, together with the solid foundation built over many years, the Vietnam–Republic of Korea Comprehensive Strategic Partnership is well positioned to deepen further in the new era and deliver tangible benefits to the peoples of both countries.
