Vietnam's Growth Draws South Korea's Interest in Deeper Economic Cooperation

Vietnam
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South Korean President Lee Jae Myung highlighted the rapid development of Vietnam and expressed Seoul's desire to participate in its growth on Thursday, October 30.

Lee said this during a meeting with Vietnamese President Luong Cuong, who had come to South Korea in advance of the Asia-Pacific Economic Cooperation summit that will begin in Gyeongju, North Gyeongsang Province, on Friday, October 31.

"Vietnam is achieving remarkable growth, with an annual average rate close to 7 percent," Lee said, as quoted by The Korea Herald. "South Korea hopes to join and contribute to Vietnam's continued progress."

In addition, Lee, who was previously the leader of the main opposition party before taking office on June 4, expressed his hope that the two countries' cooperation in the areas of culture, civil exchanges, the economy, and security will develop into "a new and elevated partnership distinct from what we have built so far."

Cuong praised Lee's comments and congratulated South Korea on hosting the upcoming APEC-related events.

"Amid the rapidly changing global situation, we highly value Korea's leadership," Cuong said, as reported by The Korea Herald. "I am confident that under your leadership, Korea will achieve new miracles in the future."

Cuong's comments were translated into Korean.

Additionally, Cuong reiterated Hanoi's dedication to fortifying the two nations' relationship, stating that they "can become reliable strategic partners that work closely based on mutual trust."

Following the opening remarks, the summit proceeded as a closed-door meeting.

Nguyen Phu Trong, the top leader of the Communist Party of Vietnam and its general secretary, visited Seoul earlier in August as part of a state visit. To strengthen their all-encompassing strategic partnership, the two parties jointly released a statement.

This year is the 33rd anniversary that South Korea and Vietnam established diplomatic ties.

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