Expanding energy development cooperation   

On the afternoon of August 26, 2026, as part of his working visit to Seoul, the Republic of Korea (RoK), Minister of Industry and Trade Le Manh Hung held meetings with the Chairman of the Board of Directors of Daewoo E&C and the Chief Executive Officer of Korea Electric Power Corporation (KEPCO) to discuss orientations for expanding energy cooperation between Viet Nam and the RoK.  

​Minister Le Manh Hung was accompanied by leaders of several functional units under the Ministry of Industry and Trade, including the Department of Foreign Market Development, the Department of Oil and Coal, the Electricity Authority, and the Department of Industry, as well as leaders of Viet Nam National Industry and Energy Group and a number of its member companies.

At the meetings, Minister Le Manh Hung spoke highly of the strong development of the Viet Nam - RoK Comprehensive Strategic Partnership, in which economic, trade, investment and energy cooperation have assumed an increasingly important role.

In 2025, bilateral trade between Viet Nam and the RoK reached approximately USD 89.5 billion, while the RoK remained one of the largest foreign investors in Viet Nam. During the first seven months of 2026, bilateral trade continued to grow strongly, reaching nearly USD 70 billion, up 41% year on year. Of this, Viet Nam’s exports to the RoK amounted to USD 19 billion, up 16%, while imports from the RoK reached USD 51 billion, up 52%.

Promoting energy investment in Viet Nam

At the meeting with KEPCO, Minister Le Manh Hung praised the group’s experience and capabilities in developing and operating power systems, as well as investing in power generation projects and transmission infrastructure in the RoK and international markets.

According to KEPCO, the total generation capacity of the group’s overseas power projects currently in operation stands at approximately 28,655 MW. In Viet Nam, KEPCO has a presence in the Nghi Son and Vung Ang power projects, each with a capacity of 1,200 MW. Cooperation between KEPCO and Vietnamese energy enterprises is expected to continue expanding in the coming period.

At the meeting, the Minister called on KEPCO to further leverage its experience and strengths to explore suitable cooperation opportunities in Viet Nam, particularly in the development and modernization of the power grid, transmission technologies, energy storage systems and clean energy. He also encouraged greater cooperation in human resource training, research and development, technology transfer, as well as new opportunities for cooperation and investment in Viet Nam in the time ahead.

At the meeting with Daewoo E&C, Minister Le Manh Hung acknowledged the group’s extensive experience in implementing large-scale energy construction projects, as well as its longstanding presence in the Vietnamese market through numerous infrastructure and urban development projects.

Daewoo E&C has capabilities across a wide range of fields, including power plants, LNG, nuclear power, and renewable energy.​

The Minister encouraged Daewoo E&C to continue exploring opportunities to expand cooperation in Viet Nam in areas where the company has strong expertise, including energy infrastructure, LNG, renewable energy, high-tech energy facilities and nuclear power. He also called on the group to strengthen linkages with Vietnamese enterprises, develop human resources and increase the participation of domestic companies in the supply chain.

Concluding the meetings, Minister Le Manh Hung affirmed that the Ministry of Industry and Trade stands ready to work alongside, engage with and facilitate, in accordance with Vietnamese law, effective and long-term investment and business activities by the RoK enterprises in Viet Nam. Such cooperation, he said, would contribute to ensuring energy security, advancing the energy transition and further deepening the Viet Nam - RoK Comprehensive Strategic Partnership.