From Red River to Han River: Elevating Vietnam‑RoK Strategic Partnership Through Investment and Innovation

On the afternoon of August 13, General Secretary To Lam and his wife left South Korea, successfully concluding a four-day state visit with many outstanding results, including 50 cooperation documents signed between the two sides.

Introduction: Vietnam-South Korea FDI Partnership at a Glance

Vietnam and the Republic of Korea (RoK) have cultivated a vibrant and mutually beneficial investment partnership spanning decades. As of the Vietnam FDI first half of 2025, South Korea stands as Vietnam’s largest foreign direct investor, with 10,238 projects contributing substantially to sectors like manufacturing, services, and energy; total registered capital reached 93.732 billion at the end of June 2025. This robust cooperation underscores South Korea’s strategic importance in Vietnam’s growth trajectory toward high-income status and deeper integration into global supply chains.

Strengthening Political Confidence and Strategic Commitment

During his State visit to South Korea from August 10–13, 2025, Party General Secretary To Lam significantly deepened political trust and leadership rapport. This visit marked the first by a Vietnamese Party General Secretary to the new Korean administration in 11 year. Through high-level meetings with President Lee Jae Myung and other senior officials, the two nations reaffirmed their determination to transform political goodwill into more tangible, strategic cooperation. South Korean leaders emphasized Vietnam’s role as a key partner in the region, pledging support for its vision to become a developed, high‑income economy by 2045.

Elevating Economic and Investment Cooperation

Central to the visit was laying groundwork for long-term economic intertwining. At the Vietnam‑RoK Economic Forum held in Seoul on August 12, over 400 leading enterprises and top government officials convened to explore next‑generation production chains. General Secretary To Lam urged Vietnamese authorities to streamline regulations, improve institutional frameworks, and invest in infrastructure, clean energy, human capital, and digital transformation to create a more attractive investment landscape. Both sides emphasized shifting from broad‑based investment to deeper, high‑value projects in sectors like electronics, automotive, semiconductors, AI, blockchain, green energy, and smart urban development. The goal was a trade target of USD 100 billion by 2025 and USD 150 billion by 2030.

Forging a New Pillar: Science, Technology, and Innovation

A major highlight was the inauguration of a new MoU on science and technology cooperation between Vietnam’s Ministry of Science and Technology and Korea’s Ministry of Science and ICT on August 11, witnessed by To Lam and President Lee. The agreement establishes a strategic framework focused on innovation, digital transformation, and sci‑tech advancement. Emphasizing the “Miracle on the Han River” as an inspiring model, To Lam underscored sci-tech as a foundational pillar of the Vietnam–RoK comprehensive strategic partnership. Vietnam plans to scale R&D investments, target 50% of GDP growth from sci‑tech, and reform laws to incentivize technology transfer and joint research in areas such as semiconductors, AI, quantum tech, biotech, and cybersecurity.

Expanding Societal and Cultural Bonds. Multilateral Support and Global Alignment

The visit reaffirmed that people-to-people ties are the adhesive that cements bilateral friendship. The parties committed to extending cooperation in culture, education, labor mobility, tourism, and diaspora engagement. Vietnam extended an agreement to continue labor exchange programs under the EPS scheme and to simplify travel procedures, enhancing ease of mobility between the two societies. With over 350,000 Vietnamese residing in Korea, To Lam stressed the importance of facilitating their stability and engagement as bridges between the two nations.

Beyond bilateral progress, the visit reinforced Vietnam–RoK alignment on international and regional platforms. Both nations pledged mutual support in upcoming APEC summits—South Korea hosting in 2025 and Vietnam in 2027. They also positioned themselves to collaborate closely in multilateral forums, elevating shared regional interests in peace, stability, and development.

Symbolic Outcomes and Institutional Foundations

The visit culminated in the signing of 50 cooperation documents across ministries, enterprises, and localities, covering areas such as energy, digital infrastructure, banking, tourism, training, and inter-city partnerships. Notably, the inauguration of the Vietnamese Consulate General in Busan—the country’s first in Korea outside of Seoul—signified a milestone in bilateral diplomacy and regional outreach. To Lam also visited Busan Port to observe smart port solutions and explore modern, sustainable infrastructure development in Vietnam.

Catalyzing a New Era of Vietnam–RoK Partnership

General Secretary To Lam’s visit to South Korea marks a pivotal moment in the nations’ evolving partnership. It provides a clear strategic trajectory—from deepening institutional ties to investing in innovation, infrastructure, and human capital. The comprehensive outcomes—MoUs, forums, consular expansions, and collaborative frameworks—advance Vietnam’s ambition of attracting quality FDI and embedding itself within global value chains.

For Vietnamese FDI advisors and foreign investors, these developments signal a rapidly improving ecosystem—one where policy reform, infrastructure, and digital readiness meet strategic and technological alignment with a committed partner. As Vietnam accelerates its journey toward high-income status, Korea emerges as a vital ally in building that future.