South Korean press reported extensively on Prime Minister Pham Minh Chinh's visit, emphasizing the determination for economic cooperation between the two countries.

South Korean press emphasizes efforts to promote economic cooperation between the two countries during Prime Minister Pham Minh Chinh's visit.

South Korean media Newsis reported on Prime Minister Pham Minh Chinh 's visit. (Screenshot)

On July 1, Korean newspapers and media published a lot of information about the cooperation between Vietnam and Korea in the field of trade and economy on the occasion of Prime Minister Pham Minh Chinh's official visit to Korea from June 30 to July 3.

Newspapers all reported on the Vietnam-Korea Business Forum at the Lotte Hotel in central Seoul on July 1.

* South Korean media Newsis quoted Minister of Trade, Industry and Energy Ahn Deok-geun as emphasizing measures to boost bilateral trade to reach the target of 150 billion USD (207 trillion Won) by 2030.

Minister Ahn said that the two countries need to expand the scope of investment and trade to include not only intermediate goods but also consumer goods, services and infrastructure...

In particular, according to Minister Ahn, to build a stable global supply chain network, it is necessary to concretize the plan to create synergy by connecting Vietnam's core mineral resources such as rare earth with Korea's advanced manufacturing technology. Currently, Korea is pursuing the establishment of a core mineral supply chain center in Vietnam, expected to open next year.

Mr. Ahn also mentioned the potential for cooperation in the fields of clean energy and nuclear power.

In addition, Minister Ahn also affirmed: "This year marks the 32nd anniversary of the establishment of diplomatic relations between the two countries and now is the time for the two countries to prepare for a new 30-year journey."

Newsis also highlighted the information that Prime Minister Pham Minh Chinh and ministries, branches, localities and enterprises of the two countries signed 23 cooperation agreements in many fields such as investment, trade, energy conversion, biotechnology, industrial park construction, semiconductor technology, medicine, aviation, logistics, information technology, mechanics, etc.

Prime Minister Pham Minh Chinh affirmed that Vietnam is ready to cooperate with Korean companies in advanced fields such as semiconductors, artificial intelligence (AI) and hydrogen energy.

* Meanwhile, mk.co.kr said that since the relationship between the two countries was upgraded to Comprehensive Strategic Partnership in 2022, the Vietnam-Korea business forum is designed to further strengthen the bridge of bilateral economic cooperation.

* Assessing the scope and level of trade and investment cooperation between the two countries, Chosun Ilbo newspaper reported that currently, the total investment of Korean enterprises in Vietnam is up to 87 billion USD. Among them, 19 large Korean corporations and enterprises, including SK, POSCO and Hyosung, have signed memorandums of understanding (MoU) with 18 companies and Vietnamese government agencies, witnessed by leaders of Vietnamese ministries and branches, and decided to expand trade and investment in areas such as new energy, renewable energy and semiconductors.

* Also reporting on the forum, the Hankuk Kyongjae newspaper highlighted the decision by political and business leaders of South Korea and Vietnam to expand investment and trade in areas such as digital transformation and supply chain cooperation.

According to this newspaper's assessment, the event of the two countries upgrading their relationship to Comprehensive Strategic Partnership in 2022 is expected to help promote the expansion of investment and trade as well as seek measures to strengthen economic cooperation between Korea and Vietnam.

The newspaper also highlighted the interest of major Korean corporations in trade relations with Vietnamese partners when citing the participation of about 350 Korean businessmen, notably the attendance of leaders of major Korean corporations such as Hyosung Group Chairman Cho Hyun-joon, Booyoung Group Chairman Lee Hee-beom, Samsung Electronics Chairman Park Seung-hee and POSCO International Chairman Lee Gye-in, SK Supex Promotion Council Chairman Choi Chang-won.

Speaking at the forum, Chairman of the Korea-Vietnam Economic Cooperation Committee under the Korea Chamber of Commerce and Industry (KCCI), Cho Hyun-sang, said that Korea and Vietnam are strategic partners and need to find ways to jointly cope with changes in the global economic environment. Korea wants to seek a partnership that can create synergy.

* Yonhap news agency reported that South Korea is the largest investor among 146 countries and territories investing in Vietnam with a total of more than 87 billion USD. During his visit to South Korea, Prime Minister Pham Minh Chinh had a discussion with major Korean enterprises.

Along with that, Prime Minister Pham Minh Chinh also had separate meetings with leaders of about 10 large Korean corporations and enterprises.

Yonhap noted that recently, the Vietnamese government has been actively working to attract investment in the semiconductor industry.

Source: https://baoquocte.vn/bao-chi-han-quoc-dua-tin-dam-net-ve-chuyen-tham-cua-thu-tuong-pham-minh-chinh-nhan-manh-quyet-tam-hop-tac-kinh-te-giua-hai-nuoc-277154.html