S. Korea, Vietnam vow stronger ties in cutting-edge sectors, building on FTA
SEOUL, Aug. 26 (Yonhap) -- South Korea and Vietnam vowed to further bolster econ...
Korea and Vietnam agreed on Wednesday to deepen their economic ties, with the aim of raising bilateral trade to $150 billion by 2030, according to the Ministry of Trade, Industry and Resources. The commitment was made during meetings of their joint industrial cooperation free trade agreement committees in Seoul.
Industry Minister Kim Jung-kwan and his Vietnamese counterpart, Le Manh Hung, discussed strategies to reach the 2030 target. They also vowed to make headway in resolving trade issues concerning Vietnamese lychees and passion fruit, as well as Korean tangerines and kiwifruit.
The two countries exchanged views on supporting Korean firms operating in Vietnam while accelerating technology exchanges. Vietnam pledged to collaborate closely with local governments to aid Korean businesses in securing local workforce, while Korea committed to assisting its counterparts in Vietnam. As of 2025, bilateral trade between the two nations was valued at $94.6 billion, with the figure hitting $62.4 billion in the first half of 2025 alone.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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