The official visit to the Republic of Korea by National Assembly Chairman Tran Thanh Man and his spouse from September 6 to 9, 2026, provides a further opportunity to advance the concrete implementation of the Viet Nam - Republic of Korea Comprehensive Strategic Partnership, particularly in the areas of economic and trade cooperation, investment, science and technology, and supply chain connectivity.

According to the Viet Nam Trade Office in the Republic of Korea, the foundation for economic cooperation between the two countries has continued to expand and gradually deepen. In the coming period, alongside further increasing the scale of trade and investment, the two countries need to place greater emphasis on improving the quality of investment flows, increasing the added value of bilateral trade, and enhancing the participation of Vietnamese enterprises in value chains led by Korean corporations.

From complementary economies to deeper cooperation

More than three decades after the establishment of diplomatic relations, economic cooperation has remained one of the key drivers of Viet Nam - Republic of Korea relations.

From a partner with relatively modest trade and investment ties in the early 1990s, the Republic of Korea has now become one of Viet Nam’s leading economic partners. The Republic of Korea is Viet Nam’s largest foreign investor and is also among Viet Nam’s largest trading partners. Thousands of Korean enterprises are operating in Viet Nam, including major industrial groups such as Samsung, LG, SK, Hyundai, POSCO, Hanwha and Hyosung.

Two-way trade reached approximately USD 89.5 billion in 2025 and around USD 70 billion in the first seven months of 2026. These figures show that bilateral trade has continued to maintain its growth momentum, providing a foundation for the two countries to work towards the target of USD 150 billion in bilateral trade by 2030.

Trade, investment and production between Viet Nam and the Republic of Korea are highly interconnected. Korean-invested projects have established large-scale production chains in electronics, mobile phones, displays, components, textiles and garments, machinery, and supporting industries. A significant proportion of goods traded between the two countries is conducted within these production chains.

This represents both an advantage and a new challenge for Viet Nam. After years of attracting Korean manufacturing investment, Viet Nam needs to gradually strengthen its position within supply chains, moving beyond its role as a production base towards higher-value-added segments such as research and development, design, high-tech component manufacturing, technical services, logistics, energy and emerging industries.

Against this backdrop, National Assembly Chairman Tran Thanh Man’s official visit to the Republic of Korea holds important significance for promoting bilateral cooperation, including economic cooperation. The visit comes as the two countries continue to implement their Comprehensive Strategic Partnership, with a focus on translating cooperation programmes and projects into concrete outcomes.

Strong political ties and a high level of mutual trust between the two countries provide an important foundation for the business community to make long-term investment decisions. For projects in areas such as semiconductors, energy, infrastructure and high technology, implementation can span many years. Political stability and high-level commitments to cooperation therefore play an important role in strengthening investor confidence. The visit also creates an opportunity for the two sides to discuss improving the legal and regulatory environment, resolving difficulties faced by businesses, and expanding into new areas of cooperation.

New momentum towards the USD 150 billion trade target

The target of reaching USD 150 billion in bilateral trade by 2030 is ambitious but achievable if the two countries continue to maintain their current growth momentum. To ensure sustainable growth, room for expansion needs to be opened up in new sectors with higher added value.

According to the Viet Nam Trade Office in the Republic of Korea, several sectors have the potential to generate additional momentum for bilateral trade and investment in the coming period.

First, high-tech industries and semiconductors. Viet Nam has become an important electronics manufacturing hub within the global networks of Korean corporations. In the coming period, Viet Nam needs to increase the proportion of domestic enterprises participating in higher-value-added stages of supply chains, ranging from precision components, materials and equipment to packaging, testing, and research and development.

Second, energy and power infrastructure. Viet Nam’s electricity demand is forecast to continue rising alongside industrialisation, the development of data centres, artificial intelligence and high-tech manufacturing. The Republic of Korea has strengths in nuclear power, liquefied natural gas (LNG), offshore wind power, energy storage systems and smart grids. These areas offer significant potential for expanded cooperation during the 2026-2030 period.

Third, emerging technologies. Fields such as artificial intelligence, biotechnology, quantum technology, robotics, next-generation batteries and digital transformation offer considerable room for cooperation. Cooperation in these areas should go beyond attracting manufacturing projects and move towards attracting research and development centres, laboratories, design centres and human-resource training activities. These factors could contribute to improving the quality of investment cooperation between the two countries.

Fourth, agricultural products, food, consumer goods and e-commerce. These are areas where Viet Nam still has considerable room for growth in the Korean market. While Korean industrial goods have a strong presence in Viet Nam, Vietnamese brands and consumer products remain relatively limited in the Republic of Korea.

According to the Viet Nam Trade Office in the Republic of Korea, the needs and priorities of Korean businesses with regard to Viet Nam are changing. While Korean companies previously focused primarily on labour costs, investment incentives and the ability to expand manufacturing facilities, they are now placing increasing emphasis on factors such as a stable electricity supply, access to clean power, a skilled technical workforce, the capacity of supporting-industry enterprises, databases, digital infrastructure and the ability to connect with Viet Nam’s innovation ecosystem.

This shift demonstrates that Viet Nam - Republic of Korea economic relations are entering a new phase, characterised by higher requirements for technology, human-resource quality and supply-chain participation capacity.

To expand market access, Vietnamese enterprises need to strengthen their ability to enter Korean distribution networks, including retail groups, supermarkets, convenience stores and e-commerce platforms. Therefore, the USD 150 billion target is not merely about increasing trade volume; it also calls for a higher-value-added and more balanced trade structure.

Enhancing the effectiveness of the Viet Nam Trade Office

As Viet Nam - Republic of Korea economic relations enter a new phase with higher requirements, the operations of the Viet Nam Trade Office in the Republic of Korea also need to become more effective.

Trade promotion activities, such as organising trade fairs, facilitating business connections and providing market information, will continue to play an important role. However, alongside these activities, a more proactive approach is needed, focusing on identifying target industries, corporations and distribution chains; directly approaching Korean businesses; connecting them with suitable localities and enterprises in Viet Nam; and following up on cooperation after initial business matchmaking.

For exports, the focus should be on supporting Vietnamese enterprises in gaining deeper access to Korean distribution networks, particularly for agricultural products, processed foods, seafood, consumer goods and branded products.

For investment, the focus needs to shift from attracting foreign direct investment based on quantity towards attracting projects capable of establishing supply chains, promoting technology transfer and creating opportunities for domestic satellite enterprises to participate.

In terms of technology, the Trade Office can strengthen its monitoring of new trends and policies in the Republic of Korea in areas such as semiconductors, artificial intelligence, energy, robotics, biotechnology and emerging industries, thereby providing information and proposing cooperation opportunities to domestic authorities, localities and businesses.

Through these efforts, the operations of Viet Nam’s trade office network overseas can gradually shift from conventional trade promotion towards supporting the development of cooperation opportunities in trade, investment and technology

After more than three decades, Viet Nam - Republic of Korea economic relations have evolved from trade to investment and integrated production. In the next phase, the focus should be on strengthening technological linkages and increasing the participation of enterprises from both countries in value chains with higher knowledge intensity and added value.

Building on the Comprehensive Strategic Partnership, the high degree of complementarity between the two economies and the determination of the two countries’ leaders, the National Assembly Chairman’s visit is expected to provide fresh momentum for cooperation, contributing to the development of Viet Nam - Republic of Korea economic relations towards greater scale, quality, efficiency and depth in the new period.