Yoon concludes Vietnam trip, expands economic and security ties

President Yoon Suk Yeol wrapped up on Saturday a state visit to Vietnam which focused on expanding strategic cooperation both in economy and security, including a united response to North Korea's threats.

President Yoon Suk Yeol, center left, and first lady Kim Keon-hee, left, view a photo album gifted by Vietnamese President Vo Van Thuong, center right, and first lady Phan Thi Thanh Tam, right, after their breakfast meeting at a restaurant near Hoan Kiem Lake in Hanoi Saturday, the last day of the Korean leader’s three-day state visit. [JOINT PRESS CORPS]

HANOI — President Yoon Suk Yeol wrapped up a state visit to Vietnam on Saturday which focused on expanding strategic cooperation both in economy and security, including a united response to North Korea's threats.

The two leaders "discussed ways to further solidify our cooperation befitting the upgraded bilateral relationship and contributing to freedom, peace and prosperity in the Indo-Pacific region," Yoon said at a joint press briefing immediately following his bilateral summit with Vietnamese President Vo Van Thuong on Friday during the three-day visit to Hanoi.

"North Korea's nuclear missiles are the most pressing security threat in the region," Yoon continued. "In order to drive a united response from the international community, Korea and Vietnam will strengthen cooperation at both the Asean and bilateral levels."

It is notable that Vietnam, a socialist country, expressed its position to cooperate with South Korea on North Korea's nuclear and missile issues during this summit.

"The Vietnamese leader used the expression 'complete denuclearization of the Korean Peninsula' during the summit, which means that he will officially support North Korea's denuclearization and cooperate closely with South Korea on security issues on the Korean Peninsula, including North Korea's provocations," a presidential official told reporters.

North Korea and Vietnam's relations date back to 1950, and the two countries maintained close relations through the Vietnam War in the 1960s. The two countries' relations, however, have somewhat cooled since the assassination of Kim Jong-nam, the older half brother of North Korean leader Kim Jong-un, in Malaysia in February 2017, and since Vietnam has been actively cooperating in UN Security Council sanctions against Pyongyang.

South Korea and Vietnam's diplomatic relations were forged in 1992, and Yoon's state visit comes after the two countries celebrated 30 years of bilateral ties last year, upgrading their relationship to a comprehensive strategic partnership.

During Yoon's three-day visit to Hanoi, Yoon and Thuong on Friday took part in a welcoming ceremony, held a bilateral summit, signed agreements and attended a state dinner, and met again for a breakfast meeting Saturday morning.

Korean President Yoon Suk Yeol, left, and Vietnamese President Vo Van Thuong hold a joint press briefing after their bilateral summit at the presidential palace in Hanoi on Friday. [JOINT PRESS CORPS]

The two leaders also agreed to strengthen cooperation on the South China Sea issue, an area which Vietnam and China are in a territorial dispute over.

According to their joint statement Friday, the two sides agreed to hold foreign ministers' meetings annually to deepen strategic communication. Through a memorandum of understanding (MOU) between the Korean Coast Guard and the Vietnamese Ministry of Public Security, Korea will actively support the strengthening of Vietnam's maritime security capabilities.

Cooperation in the defense industry will also be expanded, based on "solidified political trust" between the two countries, said the statement.

The two countries agreed to accelerate economic cooperation in order to achieve the goal of reaching $150 billion by 2030.

Vietnam is Korea's third largest trading partner, reaching a trade volume of some $87.7 billion last year, a 175-fold increase since the two countries established bilateral ties.

To better implement the bilateral free trade agreement, they agreed to establish an electronic origin data exchange system, which will allow businesses to submit online certificates of origin of export and import items for preferential duties and to speed along customs procedures.

The two countries said they will further strengthen cooperation in supply chains and establish a critical mineral supply chain center, recognizing that there is great potential for cooperation between the two countries in relation to the development of rare earth resources found abundantly in Vietnam. This comes amid intensifying U.S.-China strategic competition over such rare mineral resources.

They also agreed to explore ways to cooperate in liquefied natural gas projects, hydrogen energy production, smart cities and climate change response.

In efforts to support Vietnam's sustainable development, the Korean government plans to provide a total of $4 billion in concessional loans to Vietnam by 2030.

The Korean government also promised to provide grants worth $200 million from 2024 to 2027 in areas such as environment, climate change response, health, education and digital transformation.

Korea plans to support joint research between the two countries amounting to some $30 million through grants from the Korea International Cooperation Agency, or Koica, in order to support Vietnam's science and technology innovation over the next 10 years.

The Korean government will further increase support for Korean language education in Vietnam and scholarships for students.

"Korea-Vietnam relations, which have grown through economic cooperation over the past 30 years, have now reached a stage where we can build security cooperation to build peace on the Korean Peninsula, and in Southeast Asia and the Indo-Pacific region," Kim Tae-hyo, principal deputy national security adviser, said in a briefing. "We expect that Vietnam, which has a different political system from ours, will join forces to build peace in the region as a major security partner."

During the state visit to Vietnam, Yoon was accompanied by a 205-member business delegation, his largest ever, including leaders of Korea's top conglomerates. They included SK Inc. Chairman Chey Tae-won, Samsung Electronics Executive Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, LG Corp Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin.

Korean President Yoon Suk Yeol, second from right, and Vietnamese President Vo Van Thuong, far right, congratulate Samsung Electronics Executive Chairman Lee Jae-yong, left, on his birthday at the state dinner at a convention center in Hanoi Friday evening. [PRESIDENTIAL OFFICE]

In a state dinner hosted by Vietnam attended by his aides and business leaders, Yoon quoted Ho Chi Minh, the late Vietnamese revolutionary leader, saying, "To reap a return in ten years, plant trees. To reap a return in 100, cultivate the people."

Yoon said this means to "nurture talents and invest in people for a 100 years of prosperity," stressing the importance of personnel exchanges between the two countries.

"We agreed that the future of both countries will be brighter when freedom, peace and prosperity in the Indo-Pacific region are guaranteed," Yoon said.

Thuong said that Vietnam is ready to work together with Korea to support each other on international and regional issues of common interest for a "more practical, effective and comprehensive development of the comprehensive strategic partnership."

Vietnam is "ready to cooperate closely with Korea" on its key diplomatic policies for regional outreach including the Indo-Pacific strategy, the global pivotal state strategy, and the Korea-Asean Solidarity Initiative, he added.

Korean first lady Kim Keon-hee and her Vietnamese counterpart, Phan Thi Thanh Tam, also took part in a separate fellowship event, discussing cultural ties while dressed in ao dai, the Vietnamese national garment. They later joined their husbands for the state dinner and a breakfast meeting Saturday at a restaurant near Hoan Kiem Lake in Hanoi.

During the Hanoi trip, Yoon and Kim took part in a series of events promoting cultural and business ties, including attending a partnership fair promoting industries and K-food, a cultural night event and meetings with youths and Koreans living in Vietnam. Yoon held a luncheon meeting with his business delegation and attended a Korea-Vietnam business forum, where the two sides signed 111 MOUs laying the groundwork for cooperation in various fields.

Yoon visited Ho Chi Minh Mausoleum and held meetings with Vietnamese leaders including Prime Minister Pham Minh Chinh and Nguyen Phu Trong, general secretary of the Communist Party of Vietnam.

Kim also visited a local school to support a bicycle donation system and a hospital in Hanoi to encourage "Smile for Children," a non-profit organization supported by SK Group that provides free surgery for children with facial deformities.

Korean first lady Kim Keon-hee meets a young patient at a local hospital cooperating with Smile for Children, a nonprofit organization for children with facial deformities, in Hanoi Saturday. [JOINT PRESS CORPS]

President Yoon Suk Yeol, center, speaks with youths at the Korea-Vietnam Digital Future Generation Dialogue at the Samsung Electronics R&D Center Vietnam in Hanoi on Saturday. [JOINT PRESS CORPS]

On Saturday, Yoon visited the Samsung Electronics R&D Center in Hanoi and took part in a dialogue with the "digital future generation," encouraging science and technology cooperation between the two countries.

The Hanoi center, which opened last December, is Samsung's biggest research facility in Southeast Asia and represents Korea's efforts to educate and employ young Vietnamese professionals.

"Korea's government and companies share our science and technology not only with the youth of our country, but also with the youth of key partner countries like Vietnam, who cooperate with us in the economy and international community," Yoon said.

Through a Twitter post Saturday, Yoon said that South Korea and Vietnam "have built a close and mutually beneficial cooperative relationship over the past 30 years," adding that he hopes his state visit "will further consolidate the 'Comprehensive Strategic Partnership' between our two countries."

On Saturday evening, Yoon and the first lady returned to Korea, wrapping up their six-day, two-country tour.

In Paris, Yoon gave an English-language presentation at the general assembly of the Bureau International des Expositions (BIE) to promote Busan 2030 World Expo bid and held a bilateral summit with French President Emmanuel Macron.

During this trip, Yoon announced the "Paris Initiative," proposing the establishment of an international body to set global digital order norms.

Yoon, through his BIE presentation alongside field experts and Korean singer Psy also hosted a reception for BIE members and other dignitaries, bringing Korea closer to its vision of hosting the World Expo. A decision on which country will host the event is set to be made in November.

President Yoon Suk Yeol, left, waves, alongside first lady Kim Keon-hee after arriving on the presidential jet at Seoul Air Base in Seongnam, Gyeonggi, wrapping their six-day trip to Paris and Hanoi on Saturday evening. [JOINT PRESS CORPS]

BY SARAH KIM [kim.sarah@joongang.co.kr]