Vietnam and South Korea are entering a new phase of strategic partnership, expanding collaboration across energy, technology, infrastructure, finance, healthcare, education, and defense. Backed by strong political commitment and shared economic ambitions, the partnership is set to strengthen regional resilience, drive innovation, and create long-term opportunities for sustainable growth.
Vietnam and the Republic of Korea (RoK) have built one of Asia's strongest strategic partnerships, expanding cooperation far beyond trade to include technology, infrastructure, energy, finance, and innovation. As both nations seek to strengthen economic resilience and drive sustainable growth, President Lee Jae Myung's recent visit to Vietnam marks a significant milestone, reinforcing their shared commitment to deeper collaboration and opening a new chapter in bilateral relations.
South Korean President Lee Jae Myung's recent visit to Vietnam marks a significant milestone in the 34-year partnership between the two nations, signaling a new phase of strategic cooperation amid a rapidly evolving global landscape. As the first head of state to undertake a state visit following Vietnam's leadership restructuring in April 2026, his visit is expected to strengthen bilateral ties and reinforce the long-term Comprehensive Strategic Partnership built on mutual trust and shared priorities.
President Lee's meeting with General Secretary To Lam further underscored the close relationship between the two leaders, building on the momentum created by General Secretary To Lam's visit to the Republic of Korea eight months earlier. With both leaders focused on advancing national development and improving the well-being of their citizens, the visit is expected to deliver practical outcomes across key areas of cooperation. As global economic uncertainty and supply chain realignments reshape international trade, Vietnam's ambitions to become a high-income, developed nation by 2045 present new opportunities for deeper collaboration with the Republic of Korea.
Significance of the Vietnam-South Korea Partnership
The Republic of Korea (RoK) has emerged as one of Vietnam's most trusted strategic partners, with bilateral economic cooperation evolving from labor-intensive manufacturing to the joint development of advanced industrial ecosystems and resilient global supply chains. Today, the partnership is increasingly centered on innovation, digital transformation, and sustainable development, reflecting the shared ambitions of both nations.
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Expanding Strategic Cooperation Across Key Sectors
During President Lee Jae Myung's visit, the two countries are expected to deepen collaboration across key sectors that drive economic growth and social progress. Discussions are likely to focus on major infrastructure projects, including high-speed rail and smart urban development, alongside strategic cooperation in liquefied natural gas (LNG), renewable energy, and nuclear power to strengthen Vietnam's energy security and support its sustainability goals. The RoK's expertise in smart city technologies is also expected to contribute to addressing Vietnam's rapidly evolving urban challenges.
At the same time, increased Korean investment and technology transfer in high-growth sectors such as artificial intelligence (AI), semiconductors, and smart ports will further accelerate Vietnam's industrial transformation. By combining Korea's technological capabilities with Vietnam's skilled workforce and expanding market opportunities, both nations are well positioned to create a highly competitive innovation ecosystem with global significance.
Beyond economics and technology, the partnership is strengthened by deep people-to-people ties. Growing interest in the Korean language in Vietnam, expanding Vietnamese and Korean expatriate communities, and more than 100,000 Vietnam–Korea multicultural families have fostered a close cultural connection, providing a strong foundation for the long-term Comprehensive Strategic Partnership.
Deepening of Financial Cooperation through Fintech
Drawing on years of growing trade and investment relationships, Vietnam and South Korea aim to enhance financial collaboration in sectors such as capital markets, financial technology (fintech), digital payments, and sustainable finance. During his address at the Vietnam-Korea Financial Cooperation Forum in Ho Chi Minh (HCM) City on Monday, Kwon Tae Han, the Deputy Consul General of South Korea in HCM City, remarked that the two nations are beginning a new phase of collaboration in financial services following over thirty years of growing trade and investment relations.
With digital transformation and artificial intelligence transforming global finance, he stated that increased collaboration between the two nations has become crucial. He remarked that South Korea’s advantages in digital finance, fintech, electronic payments, and financial infrastructure enhance Vietnam’s vibrant market and swift digital uptake.
Associate Professor Dr. Nguyen Huu Huan, vice-chairman of the Vietnam International Financial Centre in HCM City, expressed similar views, highlighting that the bilateral relationship has progressed significantly beyond trade and investment into a comprehensive ecosystem that includes business, technology, finance, and interpersonal exchanges.
“Rather than simply hosting financial institutions, the VIFC-HCMC is envisioned as an integrated ecosystem connecting international capital, technology, and talent, and fostering innovation through regulatory sandboxes and new financial products,” he said.
“It would prioritize asset management, investment funds, the international capital and bond markets, green finance, fintech, cross-border payments, aviation, and maritime finance. South Korea is regarded as one of Vietnam’s most important partners. With its well-developed capital market, sophisticated banking system, advanced technological capabilities, and extensive experience in building financial hubs such as Seoul, Busan and Incheon, South Korea offers expertise that closely aligns with the development goals of the VIFC-HCMC.”
Strengthening Energy Security and Supply Chain Resilience
Vietnam and South Korea have agreed to deepen cooperation in nuclear energy, advanced technologies, and critical supply chains, reinforcing their strategic partnership amid growing geopolitical and economic uncertainties. The collaboration comes as both nations seek to strengthen economic resilience and mitigate the impact of global disruptions, including those arising from the conflict in the Middle East.
During their second meeting in eight months in Hanoi, General Secretary To Lam and South Korean President Lee Jae Myung witnessed the signing of 12 agreements spanning energy, infrastructure, and security cooperation. Among the key outcomes were two agreements exploring South Korea's participation in financing and developing a nuclear power plant in southern Vietnam, highlighting the growing importance of energy collaboration between the two countries.
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Accelerating the Clean Energy Transition
Vietnam and South Korea have agreed to deepen cooperation across the energy sector, with a strong emphasis on renewable energy, energy efficiency, and long-term energy security. The partnership also includes greater collaboration in oil and gas exploration, the digital transformation of the energy sector, and cybersecurity, alongside enhanced knowledge sharing and industry cooperation in nuclear energy development.
Beyond conventional energy, both countries will work together to advance gas-fired power generation, modernize coal-fired plants through cleaner fuel technologies, and accelerate the adoption of hydrogen and green ammonia co-firing. Collaboration will also extend to power grid expansion, smart grid technologies, and broader energy transition initiatives. In addition, Vietnam and South Korea will explore joint opportunities in the development of critical mineral supply chains, promoting investment and cooperation between governments and businesses to support the clean energy economy.
In national security and defense, the two nations will enhance meaningful collaboration via increased ministerial discussions, strategic defense and security dialogues at the deputy-minister level, and police conferences. They committed to enhancing delegation exchanges and broadening collaboration in maritime security and training, reinstating the Joint Committee on defense industry and logistics, advocating for cooperation in defense technology, defense industry, and security industry via tangible projects, and fostering stronger connections between defense enterprises.
They also committed to enhancing cooperation on demining efforts, United Nations peacekeeping, sharing information on strategic issues of mutual interest, addressing non-traditional security threats and transnational crime, while working more closely on consular and judicial issues, including matters related to detained citizens.
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Advancing Healthcare and Education Through Innovation
Vietnam and South Korea are also strengthening cooperation in healthcare, with a focus on technology transfer, biotechnology research for vaccines and medical products, genetic engineering, artificial intelligence (AI) applications, and telehealth services. The two countries will also enhance collaboration by sharing best practices in pharmaceutical regulation and fostering partnerships between healthcare institutions, research organizations, and universities.
In education, both nations aim to expand scholarship opportunities for Vietnamese students, particularly in AI and STEM disciplines, while advancing digital transformation initiatives across the education sector. The collaboration also includes the development of Korean language textbooks for Vietnam's education system and stronger partnerships between universities, further promoting academic exchange, research, and talent development.
Expanding Investment and Industrial Collaboration
Vietnam and South Korea have reaffirmed their commitment to deepening investment and industrial cooperation, with a strong focus on high-tech manufacturing, digital technologies, infrastructure, and clean energy. Both countries will actively encourage Korean companies to expand their presence in Vietnam, particularly in sectors such as artificial intelligence (AI), semiconductors, renewable energy, smart cities, and global value chains.
The Korean delegation also sought Vietnam's support in enabling Korean firms to participate in major infrastructure projects, while Vietnam reiterated its commitment to maintaining a transparent, open, and stable investment environment for foreign investors. The Vietnamese government further expressed its willingness to involve capable Korean companies in strategic national projects, including nuclear power, renewable energy, power transmission networks, and high-speed rail, reflecting the growing confidence and long-term vision underpinning the bilateral partnership.
As Vietnam and the Republic of Korea continue to deepen their Comprehensive Strategic Partnership, their collaboration is evolving beyond traditional trade and investment into a broad-based alliance driven by innovation, sustainability, and shared economic aspirations. From clean energy and advanced technologies to healthcare, education, infrastructure, and finance, the expanding scope of cooperation reflects a common vision for long-term growth and regional resilience. With strong political commitment, complementary strengths, and growing people-to-people ties, both nations are well positioned to shape a new chapter of partnership that delivers lasting value for their economies and contributes to stability and prosperity across the Asia-Pacific region.