A visit of distinctive symbolic significance

At the invitation of General Secretary of the Communist Party of Vietnam Central Committee and President of the Socialist Republic of Vietnam To Lam and his spouse, President of the RoK Lee Jae Myung and his spouse are paying a state visit to Vietnam from April 21 to 24, 2026.

The visit takes place at a time when Vietnam - RoK relations are at their strongest stage to date, opening a new phase of development with long-term strategic orientations for bilateral ties.

Building on this foundation, the relationship has not only expanded in breadth but also deepened, marked by major milestones over more than three decades.

The friendship between Vietnam and the RoK has deep historical and cultural roots, built on shared values, complementary economic structures, and a strong commitment by both governments and peoples to long-term cooperation.

Vietnam and the RoK officially established diplomatic relations on December 22, 1992. Over more than 30 years, the relationship has developed into one of the world’s exemplary models of cooperation.

In August 2001, during the visit to the RoK by former State President Tran Duc Luong, the two countries issued a Joint Declaration on the “Comprehensive Partnership for the 21st Century.” The relationship was upgraded to a “Strategic Cooperative Partnership” in October 2009, and later elevated to a “Comprehensive Strategic Partnership” in December 2022.

These milestones have created a solid framework for expanding cooperation across multiple fields. Since the upgrade, political trust and coordination efficiency have continued to strengthen, with active exchanges across Party, Government and National Assembly channels.

RoK Foreign Minister Cho Hyun stated: “This visit carries distinct symbolic weight, as it is the first state visit following the inauguration of new leadership in both countries.”

Alongside high-level exchanges, bilateral cooperation mechanisms have been continuously improved and are operating effectively, including strategic dialogues on diplomacy, security and defense at deputy ministerial level.

At multilateral forums, both countries continue close coordination at the United Nations, WTO, APEC, ASEM, ASEAN - RoK, ASEAN+3, ARF and the East Asia Summit.

Vietnam has also played a key role as ASEAN - RoK dialogue coordinator for the 2021 - 2024 term.

Expanding into new strategic domains

Economic and trade cooperation remains the central pillar of bilateral relations. After more than three decades, the two countries have become key partners of each other.

The RoK is Vietnam’s largest investor, second-largest source of tourists, second-largest ODA provider, third-largest trading partner, and third-largest labor export market.

Bilateral trade reached USD 89.5 billion in 2025, up 9.6% year-on-year. In the first three months of 2026, trade turnover reached USD 26.9 billion, up 30% compared to the same period in 2025.

Vietnam mainly exports electronics, mobile phones and components, computers and other manufactured goods produced by FDI enterprises. The RoK exports machinery, equipment, components and production materials to Vietnam. Both sides are working toward a balanced trade roadmap targeting USD 150 billion by 2030.

As of March 2026, the RoK remains Vietnam’s largest foreign investor among 154 countries and territories, with USD 98.9 billion in registered capital across 10,447 projects, focusing on manufacturing, high technology, electronics, automobiles, construction and real estate.

In ODA cooperation, Vietnam continues to be a priority partner, receiving around 20% of total Korean ODA. In the past five years, total assistance exceeded USD 500 million, with 90% in concessional loans and 10% in grants, mainly through the Economic Development Cooperation Fund under the Export-Import Bank of Korea.

The two countries signed a USD 2 billion Economic Development Promotion Facility agreement in June 2023 to support infrastructure projects in transport and urban development.

Beyond traditional sectors, cooperation is expanding into high-tech and high-value-added areas.

Defense, security, and local-level cooperation have also been strengthened through numerous partnerships.

RoK Foreign Minister Cho Hyun emphasized that the visit will serve as “a compass” guiding future cooperation. He stated: “We are actively striving to achieve the bilateral trade target of USD 150 billion by 2030.”

Vietnamese Ambassador to the RoK Vu Ho noted that President Lee Jae Myung’s first State visit to Vietnam carries significant political and symbolic meaning, reflecting Seoul’s strong prioritization of ties with Hanoi.

The visit is expected to help align long-term visions, deepen strategic trust, and transition cooperation from breadth to depth, particularly in high technology, innovation and economic security.

The next phase of relations is defined by higher trust, deeper cooperation and stronger connectivity.

Three key priorities have been identified: upgrading economic cooperation toward quality and sustainability; deepening strategic supply chains in semiconductors, digital technology, batteries and clean energy; and strengthening links between investment, innovation and human resource development.

Science and technology cooperation is expected to become a central driver, focusing on AI, semiconductors, energy and smart infrastructure.

Cho Hyun reiterated: “This visit will serve as a compass for both countries to strengthen cooperation in strategic sectors, with the shared goal of reaching USD 150 billion in bilateral trade by 2030.”