The Prime Minister urged leading Korean corporations to expand their investments in Vietnam, promoting "new cooperation horizons" with the ethos of "listening, understanding together; working together, enjoying together; winning together, developing together."

On the morning of July 1, Prime Minister Pham Minh Chinh attended a breakfast discussion with leaders of several large Korean corporations in Seoul. During this meeting, he expressed his desire to hear the ideas and suggestions of Korean businesses for Vietnam's development, aiming to elevate the relationship between the two countries to new heights.

Key corporate interactions

- GS Energy Group: Mr. Huh Yongsoo, Chairman, discussed the group's investment in the Long An power plant, valued at 3 billion USD. He expressed hope for support from the Vietnamese government to facilitate the project’s operations and adhere to the 8th power plan.

- Doosan Enerbility Group: Vice President Jung Yeonin voiced willingness to participate in Vietnam’s wind and gas power projects, contributing to the country's carbon neutrality goal. He also emphasized the group's readiness to transfer technology and train specialized human resources.

- Posco International Group: Chairman Lee Kye In highlighted the group’s 2.3 million tons of steel production in Vietnam, with annual revenue of 1.5 - 2 billion USD. Posco is investing in the Quynh Lap LNG thermal power project in Nghe An and is keen to explore rare earth projects.

- Hanwha Aerospace Group: Chairman Jung In Sub proposed providing aircraft engine repair and maintenance services in Vietnam to reduce the need for Vietnamese airlines to seek these services abroad.

Minister of Planning and Investment Nguyen Chi Dung commended Korean corporations for their contributions over the past 30 years and encouraged further investment in high-tech, high value-added sectors, digital transformation, and green transformation.

Minister of Industry and Trade Nguyen Hong Dien noted Vietnam’s substantial energy needs, outlining the country's ambitious goals to double its power capacity by 2030 and increase it eightfold by 2050. He highlighted ongoing efforts to develop competitive mechanisms in the electricity market and attract investment in gas-fired and offshore wind power.

Prime Minister Pham Minh Chinh welcomed proposals for aircraft engine maintenance services, urging businesses to engage with Vietnam Airlines and Vietjet for potential cooperation. He emphasized the importance of developing the aviation industry, noting significant projects like Long Thanh airport and the expansion of Noi Bai airport.

The Prime Minister expressed optimism about the future of Vietnam-Korea relations, advocating for a "global, comprehensive, and all-people" approach. He set ambitious targets for bilateral trade turnover, aiming for 100 billion USD by 2025 and 150 billion USD by 2030. He also called on Korean enterprises to support Vietnam in training high-quality human resources and smart governance, helping Vietnamese businesses integrate into the global value chain.

Emphasizing the message of "3 together" – listen and understand; work and enjoy together; win and develop together – Prime Minister Chinh underscored the spirit of "harmonious benefits, shared risks." He hopes Korean enterprises will continue to invest in Vietnam, contributing to the development of both countries and enhancing the quality of life for their people.

Thu Hang