Party General Secretary To Lam and his spouse (Photo: VOV)

Party leader To Lam will be the first foreign guest of newly elected President Lee Jae Myung. The first visit by a Vietnamese Party General Secretary to the Republic of Korea in 11 years takes place as the two countries are enjoying their best relationship ever, especially with the upgrading of bilateral ties to a Comprehensive Strategic Partnership in December 2022.

Major partners

Vietnam and the Republic of Korea have become major partners in multiple areas. The Republic of Korea now ranks first in direct investment in Vietnam, second in development, labor, and tourism cooperation, and third in trade cooperation.

Vietnam is the Republic of Korea’s biggest economic partner in ASEAN, accounting for 30% of investment and 50% of total trade turnover between the Republic of Korea and ASEAN.

The two countries aim to raise bilateral trade to 100 billion USD this year and 150 billion USD by 2030, in a balanced and sustainable manner. They have always provided each other the most favorable conditions for investment cooperation.

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son speaks at the “Meet Korea 2025”. (photo: An Dang/ VNA)

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said at the “Meet Korea 2025” event in May in Vietnam that the Vietnamese Government is committed to creating an open and transparent investment environment, continuing to promote administrative reform and smart governance, streamlining the apparatus, eliminating intermediary steps, abolishing the ‘ask–give’ mechanism, and accelerating decentralization and delegation of power for greater efficiency and effectiveness.

“Vietnam pledges to create favorable conditions and actively address difficulties so that foreign businesses, including Korean enterprises, can invest stably and long-term in Vietnam,” he said. 

The Republic of Korea is boosting cooperation with Vietnam in high-tech industries, digital transformation, artificial intelligence, energy (including nuclear power), infrastructure, the green economy, and the circular economy.

Cooperation between localities and people-to-people exchanges are a highlight of bilateral relations. To date, 100 local-level partnerships have been established. Notably, Da Nang has friendly cooperative ties with 8 Korean localities and is the favorite Vietnamese city among most Koreans.

The Republic of Korea has consistently been Vietnam’s largest source of foreign tourists. Last year, 4.6 million Koreans visited Vietnam, and more than half a million Vietnamese traveled to the Republic of Korea. Over the last 7 months, Vietnam welcomed nearly 2 million Korean tourists.

Kim Jong Hoon, Acting Executive Vice President of the Korea Tourism Organization, speaks at the 2025 Korea Travel Festa. (Photo: TITC)

Acting Executive Vice President of the Korea Tourism Organization Kim Jong Hoon said at the Korea Travel Festa 2025 in June in Ho Chi Minh City that the event is an opportunity for Vietnamese people to experience and connect with Korean culture through interactive activities, thereby fostering interest in and positive feelings toward Korean tourism.

Prior to General Secretary To Lam’s visit, President Lee Jae Myung said in an interview with the Vietnam News Agency that people-to-people exchanges are a solid bridge connecting and promoting the development of the two nations.

A visit for the sustainable development of Vietnam-Korea relations

The agreements to be discussed during the visit will foster commitment to the Comprehensive Strategic Partnership between the two countries.

Vietnamese Ambassador to the Republic of Korea Vu Ho in an interview with a Vietnam News Agency correspondent (Photo: VNA)

Vietnamese Ambassador to the Republic of Korea Vu Ho said the visit will boost a wide range of activities in politics, economics, trade, culture, arts, and people-to-people exchanges. It also reflects the Party and State of Vietnam’s care for overseas Vietnamese in the Republic of Korea and for all other Vietnamese communities abroad.

Vietnam and the Republic of Korea are entering a new phase of development with intertwined opportunities and challenges. This is the time for the leaders of both countries to send a shared message that they are determined to pursue close, comprehensive cooperation.