Vietnam - South Korea deepen cooperation in technology and energy

This was highlighted by Assoc. Prof. Dr. Ho Sy Hung, President of the Vietnam Chamber of Commerce and Industry (VCCI), at the Maekyung Vietnam Forum 2026 held in Ho Chi Minh City on May 20.

Speaking at the forum, the VCCI President noted that after 34 years of diplomatic relations (1992–2026), Vietnam - South Korea cooperation has achieved remarkable progress and has been elevated to a “Comprehensive Strategic Partnership”,  the highest level of bilateral relations.

According to the VCCI President, South Korea continues to be the largest foreign investor in Vietnam. As of the end of March 2026, South Korea had 10,447 valid projects in Vietnam with total registered capital of US$98.9 billion, accounting for more than 23% of the total number of projects and 18% of Vietnam’s total registered FDI capital.

Investment flows are concentrated in key sectors such as manufacturing and processing industries, high technology, electronics, automobiles and auto parts, construction, and real estate.

In trade, bilateral turnover reached US$89.49 billion in 2025. In the first three months of 2026 alone, two-way trade hit US$26.9 billion, up 30% year-on-year. South Korea is currently Vietnam’s third-largest trading partner, while Vietnam has become South Korea’s fourth-largest trading partner.

The VCCI President assessed that bilateral relations have continued to strengthen through a series of high-level visits in recent years. In particular, the state visit to South Korea by Party General Secretary and State President To Lam in August 2025 was considered an important milestone in enhancing political trust between the two countries.

Following that, in April 2026, South Korean President Lee Jae Myung and a delegation of major enterprises paid a state visit to Vietnam. According to the VCCI President, the visit opened a new chapter in bilateral cooperation and helped shape long-term strategic directions within the framework of the Comprehensive Strategic Partnership.

The two sides agreed to promote cooperation based on three key pillars: high-tech industries; sustainable investment with deeper linkages to domestic enterprises; and science and technology, particularly innovation, digital transformation and emerging technologies.

Vietnam is an open and dynamic economy and is regarded as a gateway to ASEAN, with an extensive network of FTAs connecting more than 60 economies worldwide. At the same time, Vietnam is aiming for double-digit economic growth in the coming years.

According to VCCI leadership, South Korean FDI is not only expanding in high-tech sectors but is also increasing its presence in strategic energy infrastructure. This trend is helping strengthen Vietnam’s role in global supply chains while supporting the country’s energy transition and enhancing economic self-reliance.

VCCI President affirmed that VCCI will continue serving as a bridge between Vietnamese enterprises and international partners, accompanying businesses in the process of global economic integration, supporting localities in attracting high-quality investment flows, and promoting sustainable development. He also called on South Korean companies to further expand investment in Vietnam in key sectors such as green finance, digital transformation, semiconductor technology, green energy, circular energy, and smart transport infrastructure.

The Maekyung Vietnam Forum 2026 attracted more than 250 delegates, including leaders of major corporations and enterprises from Vietnam and South Korea operating in fields such as innovation, finance and banking, investment, chemicals and healthcare.

The event was jointly organized by South Korea’s Maekyung Media Group, the Vietnam Chamber of Commerce and Industry (VCCI), and the Korea Trade-Investment Promotion Agency (KOTRA), with support from South Korea’s Ministry of Foreign Affairs, the Ministry of Trade, Industry and Energy, the Korea International Trade Association (KITA), and the Korea Federation of SMEs (KBIZ), along with sponsorship from Maritime Commercial Joint Stock Bank (MSB).

Held under the theme “Korea–Vietnam: Advancing Together for National Development,” the forum focused on key sectors including semiconductors, artificial intelligence, biotechnology, digital transformation, energy transition and advanced manufacturing. These areas are expected to further strengthen the growing strategic partnership between South Korea and Vietnam amid global supply chain restructuring and rapid technological advancement.

Business networking and exchange sessions were also held to create momentum for new bilateral projects and investments, while participants shared views on Vietnam’s investment environment and regional economic opportunities.

This also marked the first time the Maekyung Forum has returned to Vietnam since 2017, at a time when global supply chains are undergoing major restructuring and Vietnam is emerging as a dynamic economic hub in the ASEAN region.