South Korean President Yoon Suk Yeol and his wife Kim Keon Hee are about to visit Vietnam.

The Ministry of Foreign Affairs has just issued a statement saying that, at the invitation of President Vo Van Thuong, President of the Republic of Korea Yoon Suk Yeol and his wife Kim Keon Hee will pay a state visit to Vietnam from June 22-24.

This is the first visit to Vietnam of South Korean President Yoon Suk Yeol.

According to the Korea Chamber of Commerce and Industry (KCCI), a delegation of 205 large Korean enterprises is expected to accompany President Yoon on this trip.

KCCI said the delegation is planning to meet with many Vietnamese leaders, businesses and government leaders to discuss cooperation in supply chains and future industries.

South Korean President Yoon Suk Yeol and his wife Kim Keon Hee. Photo: Yonhap

In December 2022, the two countries issued a Joint Statement upgrading their relationship to a Comprehensive Strategic Partnership, officially opening a new chapter in Vietnam-Korea relations.

Delegation exchanges and bilateral contacts between the two countries (online and in person) are maintained.

Korea is one of Vietnam's leading important partners, ranking first in investment, second in ODA, and third in trade. Korea is also Vietnam's second largest labor market and Vietnam is the second largest labor sending country. There are currently about 48,000 Vietnamese workers working in Korea.

In recent years, South Korea has emerged as one of Vietnam's key tourist markets. On average, there are more than 1,000 direct flights between Vietnam and South Korea each month. The number of South Korean visitors to Vietnam in 2020-2021 decreased due to the impact of the Covid-19 pandemic but is increasing again from the beginning of 2022.

In agriculture, Korea actively supports Vietnam in implementing the New Rural model, most notably the Happiness Program in Quang Tri and Lao Cai; through KOICA, non-refundable aid in the fields of rural development, smart agriculture, and natural disaster prevention.

According to statistics provided by the Korean Ministry of Justice, as of January 31, 2023, the total number of Vietnamese people living and working in Korea was 206,728, an increase of nearly 23,500 people compared to the same period in 2022.

Currently, most of Vietnam’s provinces, cities and localities have signed cooperation agreements with many Korean localities, organizations and enterprises. Korean investors are present in 59 localities, most concentrated in Bac Ninh, Hanoi, Dong Nai, Hai Phong, Thai Nguyen and Ho Chi Minh City.

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