Prime Minister asks South Korea to promote $2 billion loan for high-speed railway

President Yoon Suk Yeol affirmed that this visit by Prime Minister Pham Minh Chinh will contribute significantly to promoting the effective implementation of the Action Program to implement the Comprehensive Strategic Partnership, which was upgraded in December 2022.

The President emphasized that Korea considers Vietnam a leading important partner in implementing policies in the region, including the Indo- Pacific Strategy and the ASEAN-Korea Solidarity Initiative of Korea.

general information HQ.jpg — Prime Minister Pham Minh Chinh meets with South Korean President Yoon Suk Yeol. Photo: Nhat Bac

Conveying warm regards from General Secretary Nguyen Phu Trong, President To Lam and senior Vietnamese leaders to President Yoon Suk Yeol, Prime Minister Pham Minh Chinh highly appreciated the President's drastic efforts to lead the Korean economy to positive growth again; constantly introducing many policy initiatives to bring many benefits to the Korean people.

The Prime Minister affirmed that Vietnam supports the major policies of the Republic of Korea and is ready to continue to closely coordinate so that the two countries can achieve greater success, for the benefit of the two peoples, while contributing responsibly to maintaining peace, stability, cooperation and development in the region and the world.

The Head of the Vietnamese Government informed President Yoon Suk Yeol of the important results achieved by the two sides during the talks between the two Prime Ministers.

In particular, the two sides have put forth major orientations to promote the Comprehensive Strategic Partnership to continue to develop more deeply, substantially and effectively in the coming time as well as the rapid and substantial progress of bilateral cooperation in recent times.

Prime Minister Pham Minh Chinh also suggested that the two sides continue to maintain and enhance high-level delegation exchanges and all-level delegation exchanges; continue to regularly implement existing cooperation mechanisms in the fields of diplomacy, defense and security, in accordance with the level of Comprehensive Strategic Partnership.

Korea will support Vietnam in developing cultural industry

The two leaders agreed to cooperate closely to deepen economic relations and bring them to practical effectiveness, thereby contributing to achieving the bilateral trade turnover target of 100 billion USD by 2025 and towards the target of 150 billion USD by 2030.

In that spirit, Prime Minister Pham Minh Chinh suggested that the two sides cooperate to encourage Korean enterprises to increase investment in the fields of semiconductors, digital transformation, green transformation, and biotechnology.

At the same time, the Prime Minister proposed that the Korean Government increase investment in projects with high technology content and high added value; cooperate in training human resources in the fields of semiconductors, hydrogen and artificial intelligence (AI).

In addition, the head of the Vietnamese Government also proposed promoting loans through the Economic Development Promotion Fund (EDPF) worth 2 billion USD and non-binding loan conditions for loans from the Economic Development Cooperation Fund (EDCF) worth 2 billion USD to develop strategic infrastructure such as building high-speed railway lines.

Tongthong HQ1.jpg — The two sides agreed to expand cooperation in culture, education, tourism, and enhance cooperation between localities and people-to-people exchanges. Photo: Nhat Bac

President Yoon Suk Yeol said that Korean businesses consider Vietnam a potential investment destination. Many Korean businesses investing in Vietnam have created a favorable investment ecosystem.

Proposing that Vietnam create conditions for Korean enterprises to participate in key projects, including energy and LNG projects, President Yoon Suk Yeol affirmed that he will support human resource training for Vietnam to serve the development of the semiconductor and high-tech industries; and support Vietnam in developing the cultural industry.

President Yoon Suk Yeol said that Vietnam is the first country to sign a climate change agreement with Korea. The President affirmed that he will support Vietnam to successfully organize the Partnership for Green Growth and the Global Goals 2030 (P4G) Summit in April 2025.

The two sides agreed to expand cultural, educational and tourism cooperation, enhance cooperation between localities and people-to-people exchanges to create connections and understanding between the people of the two countries; agreed to cooperate closely to protect the legitimate rights of citizens of each country in the other country, helping them stabilize their lives and stay safe; and pay attention to supporting Vietnamese-Korean multicultural families.

The two leaders agreed to continue close cooperation and mutual support in international and regional forums of mutual interest.

On the same afternoon, Prime Minister Pham Minh Chinh received President of the Korea Global Innovation Research Association Kim Jin Pyo, former Speaker of the Korean National Assembly.

Prime Minister Pham Minh Chinh expressed his respect and gratitude to Mr. Kim Jin Pyo for his affection for Vietnam and his many important contributions to the relationship between the two countries, especially the relationship between the two countries' legislative bodies...

Mr. Kim Jin Pyo announced and proposed a number of projects and cooperation plans with Vietnam that he personally, the Korea Global Innovation Research Association and Korean agencies will implement in the near future.

Specifically, continuing to support the expansion of Hue Central Hospital (following the program to support Hue Central Hospital, branch 2); the plan to build a medical human resources training center in the Central region; Korean language and vocational training for Vietnamese youth, especially in nursing, to be able to work in both Vietnam and Korea...

Prime Minister Pham Minh Chinh welcomed Mr. Kim Jin Pyo's proposals and said he would assign relevant agencies such as the Ministry of Planning and Investment, the Ministry of Education and Training, the National Innovation Center of Vietnam, and the People's Committee of Thua Thien Hue province to continue specific discussions to implement cooperation projects and programs.

In particular, the Prime Minister hopes that the Korea Global Innovation Research Association and the Vietnam National Innovation Center will strengthen cooperation, exchange experiences, and participate in each other's innovation ecosystems in a practical and effective manner.

The Prime Minister hopes that Mr. Kim Jin Pyo will always be a close friend and support Vietnam. The Prime Minister is ready and wishes to meet Mr. Kim Jin Pyo again in Vietnam to review and continue to implement the discussed work, contributing to promoting the friendship and good relations between the two countries.

Prime Minister proposes South Korea exempt visas for Vietnamese citizens

Prime Minister Pham Minh Chinh proposed that the Korean Government simplify visa procedures and move towards visa exemption for Vietnamese citizens entering Korea, contributing to promoting tourism cooperation between the two countries.

Korean management technology combined with Vietnamese intelligence will surely succeed.

Reiterating his wish to have Vietnamese people join the leadership of Samsung Vietnam in the near future, the Prime Minister affirmed that if Korean management technology is combined with Vietnamese intelligence, success will certainly be achieved.