Science, technology set as new cooperation driver for Vietnam, South Korea

THE HANOI TIMES — Vietnam and South Korea put collaborations in science and technology as a key pillar in their bilateral relations, as agreed by General Secretary of the Communist Party of Vietnam To Lam and President of the Republic of Korea Lee Jae Myung.

At a press briefing following their talks on August 11, the two leaders pledged to actively boost cooperation in science-technology, innovation, digital transformation, and high-quality human resource training in strategic sectors.

They also agreed to expand collaboration in breakthrough areas such as high-tech electronic device production, artificial intelligence (AI), and renewable energy to meet the development needs of both countries.

General Secretary To Lam said that Vietnam welcomes South Korean businesses to expand investment in the country, coupled with substantial technology cooperation.

Priority will be given to sectors such as infrastructure development, high-tech electronic equipment, semiconductors, AI, renewable energy, smart cities, and building specialized industrial production complexes along value chains, he said.

Vietnam also welcomes South Korea’s continued provision of aid and concessional loans, which play an important role in socio-economic growth, the general secretary added.

The country will effectively use funds from the Economic Development Cooperation Fund (EDCF) and the Economic Development Partnership Fund (EDPF) between 2023 and 2030, Lam said.

These funds will focus on areas such as strategic transport infrastructure, energy infrastructure, digital infrastructure, and climate change adaptation infrastructure.

Both sides agreed to further strengthen cooperation between the Parties, States, Governments, and Parliaments to provide strategic direction and create favorable political foundations for expanding comprehensive cooperation in all areas.

Vietnam and South Korea will step up practical cooperation in diplomacy, defense, and security, and work together to address non-traditional security issues, transnational crimes, high-tech crimes, and drug-related crimes.

They also agreed to shape a new strategic vision for economic ties, including joint development of production chains.

The two leaders committed to opening markets to each other’s goods and facilitating businesses, aiming to reach US$150 billion in two-way trade by 2030.

General Secretary To Lam and President Lee Jae Myung also agreed to enhance cultural, educational, and people-to-people exchanges, creating a strong foundation for long-term partnership and ensuring stability for citizens of each country.

The two countries will closely cooperate and support each other at international and regional forums and mechanisms, promote economic and trade linkages, uphold international law, and help maintain peace, stability, and development in the region and globally.

Both leaders believe the Vietnam–South Korea Comprehensive Strategic Partnership will grow further, contributing to peace and development regionally and globally.

At the press briefing, General Secretary To Lam said that his talks with President Lee Jae Myung were successful in a friendly, open, and sincere atmosphere.

After more than 30 years of development, bilateral ties between Vietnam and South Korea have become a model of special friendship with many outstanding achievements, especially since upgrading to a comprehensive strategic partnership in December 2022, he said.

Political trust has been strengthened, cooperation across all areas has become more effective, and people-to-people exchanges are increasingly vibrant, he added.

This is Lam’s first visit to South Korea as the General Secretary of the Communist Party of Vietnam and also the first State visit to the country after its new government took office.

He stressed the importance of the visit as it “creates new momentum and opens many opportunities for cooperation between the two nations in their new development era.”

He also invited President Lee Jae Myung and the new South Korean leadership to visit Vietnam.

President Lee Jae Myung expressed his pleasure at welcoming General Secretary To Lam, his spouse, and the Vietnamese high-level delegation.

He expected that the Vietnam–South Korea relations will become more effective and sustainable for the benefit of the peoples of both countries.

Vietnam, South Korea sign 10 cooperation documents General Secretary To Lam and President Lee Jae Myung on August 11 witnessed the signing and exchange of 10 cooperation documents in politics, economy, science-technology, education, culture, and labor. 1. Memorandum of Understanding (MoU) on science-technology cooperation between Vietnam’s Ministry of Science and Technology, and South Korea’s Ministry of Science and ICT. 2. MoU on cooperation in copyright and related rights between the two countries’ Ministries of Culture, Sports, and Tourism. 3. MoU on enhancing renewable energy cooperation between Vietnam’s Ministry of Industry and Trade, and South Korea’s Ministry of Trade, Industry, and Energy. 4. MoU on sending and receiving workers under the Employment Permit System (EPS) program between Vietnam’s Ministry of Home Affairs, and South Korea’s Ministry of Employment and Labor. 5. MoU on cooperation and technical assistance related to central banking between the State Bank of Vietnam and the Bank of Korea. 6. MoU on cooperation between the State Securities Commission of Vietnam and South Korea’s Financial Supervisory Service. 7. Supplementary agreement to the MoU between Vietnam’s Ministry of Education and Training, and South Korea’s Ministry of Education on educational cooperation. 8. MoU on fisheries cooperation between Vietnam’s Ministry of Agriculture and Environment, and South Korea’s Ministry of Oceans and Fisheries. 9. MoU on human resource development in nuclear energy between Vietnam’s National Industry - Energy Group (PetroVietnam) and the Korea Electric Power Corporation. 10. Agreement to strengthen cooperation between Vietnam’s coastal city of Danang and Korea’s Pyeongtaek City.