Vietnam’s Tuoi Tre reported that Hong Sun, honorary chairman of the Korean Chamber of Commerce in Vietnam, said at a meeting with South Korean companies held on the occasion of Lee’s visit that the president shared “a new direction” for bilateral cooperation. Hong said Lee set the $150 billion trade target for 2030 and identified infrastructure, nuclear power, energy, critical minerals, supply chains, AI, climate-change response and advanced technology as key areas for cooperation.
◆ “Technology powerhouse plus workforce and investment environment — an inseparable link”
Hong said that amid a “complex and unstable” global economic environment, forming an economic alliance is an inevitable trend that can both open new opportunities and strengthen supply-chain security. He said South Korea has strengths in technology and engineering, while Vietnam has strengths in its workforce and investment environment, calling the combination “an inseparable link.”
About 10,000 South Korean companies operate in Vietnam across fields from science and innovation to infrastructure and smart cities, the report said. As of last year, South Korea was Vietnam’s largest foreign investor with cumulative investment of $94.5 billion and remained Vietnam’s third-largest trading partner with bilateral trade of about $89.5 billion.
Samsung drew particular attention among the accompanying business delegation. Samsung’s Vietnam operations posted $64.9 billion in revenue last year and $57.1 billion in exports, returning to growth from the previous year, the report said. Its cumulative investment has exceeded $24 billion, and it operates six factories and a research and development center, positioning Vietnam as a global strategic production base.
Earlier, Na Ki-hong, a vice president and head of Samsung Electronics’ Vietnam Samsung Strategic Cooperation Office, said Samsung will continue stable investment activities based on trust with the Vietnamese government and authorities in Thai Nguyen province. Beyond manufacturing, Samsung runs a supply-chain linkage program for 379 Vietnamese companies to support productivity improvements and has trained hundreds of local experts, contributing to the local industrial ecosystem, the report said.
◆ Taihan Vina to invest 80 billion won in extra-high-voltage cable production
Another company highlighted was Taihan Vina, Taihan Cable & Solution’s manufacturing unit in Vietnam, founded in 2005 and described as a leading cable maker in the country. It produces high-voltage and medium- and low-voltage power cables, as well as overhead lines. The company plans to sign a memorandum of understanding to expand cooperation in Vietnam’s power infrastructure and construction sectors.
Choi Seung-ho, head of Taihan Vina, said the agreement covers cooperation on power-cable supply, technical consulting and sharing market information. He said the company is reviewing plans for a second plant in northern Vietnam and is building the country’s first 400-kilovolt extra-high-voltage plant.
Choi said major national projects in Vietnam — including expanding transmission networks, shifting to renewable energy, restarting nuclear power, building new cities and constructing high-speed rail — are directly tied to the power-cable industry. He said South Korean companies’ high-voltage direct current transmission technology, engineering, procurement and construction capabilities, and project-financing experience complement Vietnam’s needs. He also called for policy support from both governments to ensure fair competition and to cooperate on training technical personnel in South Korea and Vietnam.
* This article has been translated by AI.
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