December 6, 2022
HANOI — Vietnamese President Nguyễn Xuân Phúc and his Republic of Korea (RoK)’s counterpart Yoon Suk Yeol on Monday announced that the two countries have agreed to upgrade relations to a Comprehensive Strategic Partnership.
The announcement was made during the press briefing held after the two leaders’ official talks during Vietnamese President’s official visit.
Both leaders hailed the elevation of ties as a landmark change that will open up new significant opportunities in cooperation ties.
Speaking at the press conference, President Phúc said he had a very successful meeting in the spirit of “looking towards a bright future” between the two countries, and discussed major orientations and visions for bilateral ties as well as measures to boost cooperation.
He expressed his belief that, with the determination of leaders and people, the Comprehensive Strategic Partnership will turn a new page for bilateral ties, actively contributing to peace, stability and development in the region and in the world.
On behalf of the Vietnamese leaders, President Phúc cordially invited the President of RoK to visit Việt Nam as soon as possible.
In terms of politics and foreign affairs, the two sides continue to maintain regular exchanges, contacts and exchanges of high-level delegations with diverse and flexible forms; promptly share and coordinate opinions on the two countries’ cooperative relations, regional and international situations.
In terms of economy, trade and investment, the two leaders reaffirmed the goal of raising bilateral trade to US$100 billion by 2023 and work towards $150 billion by 2030 in a “balanced direction”.
Việt Nam welcomes RoK businesses, which make up the largest foreign direct investors (FDI) in Việt Nam with a total investment of $80 billion, to continue to expand the investment scale associated with technology transfer and strong focus on the fields of electronics, infrastructure development, construction of intensive technology complexes, green industrial parks, and smart cities.
Regarding official development aid (ODA), the Vietnamese President thanked RoK for providing aid and preferential credits that have resulted in development achievements in many regions of Việt Nam, including disadvantaged areas.
The two sides also agreed to promote labour cooperation, expand to more fields and new forms of labour cooperation; continue to support Vietnamese workers in South Korea and RoK workers in Việt Nam to work safely and conveniently, while at the same time complying with the laws of the two countries.
In the fields of culture, education, tourism, and people-to-people exchanges, the President stated that Việt Nam agreed to promote the expansion of cultural exchanges, education and tourism, and enhance understanding and trust in each other in all social classes; creating favourable conditions for each other’s citizens. There are currently about 25,000 Vietnamese in South Korea and 20,000 RoK citizens in Việt Nam.
RoK has also agreed to support the establishment of Vietnamese Cultural Centre in Korea and support Việt Nam to develop “cultural industry”.
With regards to multilateral cooperation, President Phúc said the leaders agreed to continue to further their close cooperation at international and regional forums; affirm the importance of guaranteeing security, safety and freedom of navigation and overflight in the South China Sea in accordance with international law, especially United Nations Convention on the Law of the Sea 1982; promote dialogue, cooperation, and realise the goal of denuclearisation in the Korean Peninsula in accordance with UN Security Council resolutions, contributing to peace, stability and development in the region and the world.
President Yoon said President Phúc’s visit holds significant meaning and stressed the fact that this is the first foreign leader he received in RoK on his capacity as the head of state.
Over the past 30 years, the two countries have built cooperative relations in many fields with positive results, with tremendous growth in trade and investment ties and people-to-people exchanges, the RoK leader noted.
The Korean President said that the two sides need to move forward to be the preferred trade and investment partners of each other, and pledged to support businesses on both sides to further promote trade and investment.
Delighted to witness the signing and exchanging of many cooperation documents during this visit, President Yoon Suk Yeol said that RoK wishes to cooperate with Việt Nam in the field of advanced technology through stable supply chains.
In advanced science and technology, healthcare, and infrastructure, the Korea-Việt Nam Institute of Science and Technology, which came into operation in Hà Nội, plays a very important role in the two countries’ relations.
RoK will consider a plan to support the construction of a Centre for Disease Prevention and Control in Việt Nam.
The Korean President also said that the leaders agreed to create conditions and promote people-to-people exchanges, boost Government-level cooperation to ensure safety for people of the two countries.
RoK will also step up support for Korean language teaching in general education in Việt Nam.
Highlighting that Việt Nam is a partner country central to RoK’s Indo-Pacific Strategy and RoK’s cooperation initiative with Association of Southeast Asian Nations (ASEAN), the Korean President said the country would continue to cooperate with Việt Nam in promoting the ties between RoK and ASEAN, and RoK and Mekong sub-region.