return icon

Vietnam, South Korea eye upgrading ties, lift trade to $150b by 2030: Presidents

Vietnamese President Nguyen Xuan Phuc and President-elect of Republic of Korea (RoK) Yoon Suk-yeol on Wednesday held phone talks on various aspects of bilateral relations.

Vietnamese President Nguyen Xuan Phuc has phone talks with President-elect of the Republic of Korea on Wednesday. — VNA/VNS Photo Thong Nhat

On behalf of the State and people of Vietnam, President Phuc congratulated his counterpart Yoon on being elected as the 20th President of the Republic of Korea, and conveyed greetings of General Secretary of Vietnamese Communist Party Nguyen Phu Trong and Vietnamese leaders to the RoK President-elect.

President Phuc highly valued the important achievements the two countries have made in the past 30 years since the establishment of diplomatic relations in 1992 in many bilateral and multilateral areas.

Currently, the two sides have become each other's strategic cooperation partners with an increasingly profound level of trust and mutual understanding, substantive and extensive cooperation.

Phuc also thanked the RoK Government for the timely support of medical equipment and vaccines to help Vietnam deal with COVID-19 outbreaks.

On this occasion, President Phuc cordially invited the RoK President to visit Vietnam.

President-elect Yoon Suk-yeol, for his part, thanked General Secretary Nguyen Phu Trong and President Phuc for their congratulatory messages, stressing that the bilateral relations are at the highest levels ever.

He affirmed that he always attaches importance to ties with Vietnam and wishes that the two countries would continue to grow closer, underlining his commitment to promoting RoK businesses to invest and expand their investment scale in Vietnam, especially in key fields.

The newly elected President also noted he would work to facilitate the entries of Vietnamese citizens into RoK, promote tourism cooperation and strengthen people-to-people exchanges between the two countries.

President-elect Yoon also expressed appreciation for Vietnam’s role in the ASEAN region and thanked Vietnam for its contributions to peace, stability, cooperation and development on the Korean Peninsula.

He also gladly accepted President Phuc’s invitation and has invited President Phuc to visit Korea in 2022.

Leaders of the two countries agreed to continue maintaining delegation exchanges and high-level contacts in various appropriate manners in the new normal; support the strengthening of security, defence, and industry cooperation; closely coordinate in organising activities for the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea (1992-2022); and work towards upgrading the relationship to a “Comprehensive Strategic Partnership”.

President Phuc and his RoK counterpart emphasised the need to coordinate in implementing measures to realise the goal of raising bilateral trade to US$100 billion by 2023 and $150 billion by 2030, effectively capitalising on existing trade deals such as the Vietnam-Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP).

Vietnam and RoK will also continue to work closely on regional and international issues and coordinate to support Vietnam on its coordinating role of the ASEAN-RoK relations in 2021-24 term.

The Vietnamese President is the sixth foreign leader to speak with Yoon since his election on March 10, 2022, after US President Joe Biden, Japanese Prime Minister Fumio Kishida, British Prime Minister Boris Johnson, Australian Prime Minister Scott Morrison and Indian Prime Minister Narendra Modi.

Source: Vietnam News

NA Chairman: VN-RoK partnership becomes increasingly effective, substantive

NA Chairman: VN-RoK partnership becomes increasingly effective, substantive

The strategic cooperative partnership between Vietnam and the Republic of Korea has become increasingly effective and substantive, NA Chairman Vuong Dinh Hue told the Korean press.

Vietnam, RoK top legislators back upgrading bilateral relationship

Vietnam, RoK top legislators back upgrading bilateral relationship

Vietnamese and Korean National Assembly Chairman expressed their support for upgrading the relationship between the two countries to a comprehensive strategic partnership during their talks in Seoul on December 13.


Achilles heel in tourism

Vietnam’s tourism industry has made only meager strides in diversifying its products despite years of growth.

The most addictive dish on Ha Giang plateau

Ha Giang attracts tourists not only for its majestic natural landscape and honest ethnic people but also for its bold, regional specialties that cannot be found anywhere else.

Liquidity needs to be ensured: Central bank

The Governor of the State Bank of Vietnam (SBV) sent important messages about monetary policies at a meeting with businesses held by SBV and HCM City People’s Committee late last week.

Firms hesitate to access loans due to weak consumption demand

The State Bank of Vietnam last week cut its policy rates for the third time this year to prop up economic growth.

Banks experience significant increases in non-performing loans

Given the challenging economic environment, the performance of numerous banks is rather bleak, particularly due to the mounting bad debt levels.


Work on Cat Bi Airport’s Terminal T2 to start in Q4

Vietnam should consider announcing the end of COVID-19: NA deputy

At the ongoing fifth session of the 15th National Assembly (NA) held on May 29, Nguyen Lan Hieu of the NA Delegation of Binh Dinh province suggested that the end of COVID-19 should be announced.

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.


Vietnam leaves good impressions at multi-ethnic festival in Czech Republic

Vietnam to build center for search and rescue in Spratly Islands

Deputy Prime Minister Tran Luu Quang has approved a project to improve the capacity of incident and natural disaster response and search and rescue to 2030, with a vision to 2045.

Male model finishes as third runner-up at World Fitness Supermodel

Ngo Hoang Linh, the Vietnamese representative at World Fitness Supermodel 2023, was awarded the third runner-up title during the male pageant’s grand final held on May 27 in Thailand.

Old Vietnamese publications in romanised script on display in Paris

An exhibition showcasing old Vietnamese publications in Chu Quoc ngu (romanised Vietnamese script) is underway in Paris, France.

HCMC police raze black-credit companies with illicit profits of over US$176mln

The Ho Chi Minh City Department of Public Security yesterday prosecuted nine people for usury in civil transactions.

Entertainment and cultural events of the week (May 29-June 4/2023)

Upcoming entertainment and cultural events in Vietnam's major cities on May 29-June 4.

More cooperation needed to develop rare earth industry in Vietnam

The applications for rare-earth element products have developed strongly in recent decades, especially in the field of agriculture in which they are used to create clean, safe, and effective agricultural products.