The Vietnamese PM welcomed South Korean President Lee and a high level South Korean delegation at the Government Headquarters, where the two leaders viewed a photo exhibition highlighting milestones in bilateral relations before holding talks on key areas of cooperation.
President Lee Jae Myung and Prime Minister Le Minh Hung shook hands and posed for a joint photograph in the lobby of the Government Headquarters.
The two leaders then held a meeting to discuss key issues in cooperation between Vietnam and South Korea.
Vietnam and South Korea established diplomatic ties on December 22, 1992, and upgraded relations to a comprehensive strategic partnership in December 2022.
South Korea is Vietnam’s largest foreign investor, its second largest source of tourists and ODA provider, and its third largest trading partner and labour export market.
Bilateral trade reached USD 89.5 billion in 2025, up 9.6 per cent year on year. Vietnam exported USD 28.9 billion, up 12.7 per cent, while imports totalled USD 60.5 billion, up 8.1 per cent, resulting in a trade deficit of USD 31.6 billion.
In the first three months of 2026, total trade reached USD 26.9 billion, up 30 per cent year on year. Vietnam’s exports rose 20.4 per cent to USD 8.1 billion, while imports increased 34.7 per cent to USD 18.7 billion, leaving a deficit of USD 10.6 billion.
Vietnam has encouraged South Korean firms to expand investment in sectors such as infrastructure, high tech manufacturing, semiconductors, artificial intelligence, renewable energy and smart cities.
Vietnam remains a top recipient of South Korean ODA, accounting for around 20 per cent of its total aid. Over the past five years, total assistance has exceeded USD 500 million, with about 90 per cent in loans and 10 per cent in grants.
South Korea provides ODA loans through the Economic Development Cooperation Fund under the Export Import Bank of Korea. In June 2023, the two sides signed a USD 2 billion agreement under the Korea Economic Development Promotion Fund to support transport and urban infrastructure projects.
Lee, his spouse and the delegation are scheduled to continue official activities in Vietnam from April 21 to April 24.
