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Ministry of Trade, industry and Energy PRESS CENTER Press Releases

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Korea and Vietnam ink MOUs for wider economic cooperation
  • Registration date2025-04-15
  • Attached file

Korea’s Minister of Trade, Industry and Energy Dukgeun Ahn met Vietnam’s Minister of Industry and Trade Nguyen Hong Dien today in Hanoi for the 14th Korea-Vietnam Joint Industrial Committee and 8th Korea-Vietnam FTA Joint Committee meetings and discussed measures for wider economic cooperation between the two countries.


During the Korea-Vietnam Joint Industrial Committee meeting, the two sides discussed detailed implementation measures for reaching USD 150 billion in bilateral trade volume by 2030 and agreed to cooperate on Vietnamese nuclear reactor projects, LNG power generation, clean energy development, and textile sector investments as well as on resuming logistics policy meetings at the director general level.


In the following FTA Joint Committee meeting, the two delegations reviewed key issues including the amendment of the bilateral FTA for cost reduction and streamlining of customs procedures for exporting businesses, the expansion of electrical safety certification institutes, broadening the export and import range of agricultural and livestock products, and import regulations. They also discussed ways to enhance companies’ utilization of the bilateral FTA.


A memorandum of understanding (MOU) signing ceremony was held on the heels of the FTA Joint Committee meeting, where the chief delegates of both countries signed the MOU on achieving $150 billion in bilateral trade volume by 2030 and the director generals in charge of nuclear power development inked an MOU on bilateral nuclear reactor cooperation. Moreover, Korea Electric Power Corporation (KEPCO) entered into an MOU with Vietnam’s state-owned power transmission company for cooperation in power grids and new energy industries. 


In the evening of the same day, Minister Ahn convened a conference with the representatives of 16 Korean companies operating in the local Vietnamese market to discuss business issues, stating that the ministry will make continued effort to maintain intergovernmental, high-level consultations with relevant authorities.