National Assembly Chairman Vuong Dinh Hue meets RoK Prime Minister Kim Boo-kyum in Seoul on December 14, 2021. (Photo: VNA)

The legislature, together with the Vietnamese Government, will work to simplify procedures for Korean firms to invest and do business profitably in Vietnam for a long term, said Mr. Hue.

He said Vietnam wants to foster cooperation with the RoK in different fields, especially economics, trade and investment.

PM Kim affirmed that the RoK attaches importance to the relationship with Vietnam, saying Vietnam continues to be a major partner in the RoK Government’s New Southern Policy.

Both leaders expressed their support for upgrading the bilateral relationship to a new height on the occasion of the 30th founding anniversary of Vietnam-RoK diplomatic ties next year.

The two countries should expand collaboration in areas such as national defence and security, they said.

The leaders reaffirmed efforts to raise two-way trade to 100 billion USD by 2023 and 150 billion USD by 2030 in the direction of balanced trade.

Chairman Hue suggested the two sides cooperate in the research of vaccines and treatment drugs and the transfer of production technologies, to fight not only COVID-19 but also other diseases.