South Korea is now Vietnam’s largest foreign investor, with nearly 10,600 projects and almost 103 billion USD in registered capital. It is also Vietnam’s third-largest trade partner, Deputy Foreign Minister Ngo Le Van said.
At the Meet Korea conference in Dong Nai, co-hosted by Vietnam’s Ministry of Foreign Affairs and the Korean Embassy, Van said 2026–2027 offered opportunities for new breakthroughs before the 35th anniversary of diplomatic ties on December 22.
Two-way trade exceeded 80 billion USD in the first eight months of 2026, the highest figure for that period in any previous year. Van said this supported a goal of exceeding 100 billion USD this year and reaching 150 billion USD by 2030.
Local cooperation and people-to-people exchanges have increased. In 2025, the countries recorded more than 5 million visits. More than 350,000 Vietnamese live in South Korea, while about 200,000 South Koreans live in Vietnam.
Van said Vietnam is restructuring its growth model around science, technology, innovation and a skilled workforce, with a goal of double-digit growth. It is prioritising high-value sectors such as artificial intelligence, semiconductors, smart infrastructure and clean energy, where South Korea has considerable expertise and room for cooperation.
He expressed hope that Korean companies would join activities during APEC Year 2027, hosted by Vietnam, and contribute to a connected, innovative and prosperous Asia-Pacific region.
Vo Tan Duc, deputy secretary of the municipal Party Committee, said Dong Nai links the southeastern region with international markets and is one of Vietnam’s longest-established industrial localities. It has road, air, rail, maritime and inland water transport, as well as Long Thanh International Airport, Phuoc An Port and 10 expressway routes that are completed, under construction or planned.
Duc said Politburo Resolution 16-NQ/TW on Dong Nai’s construction and development provided strategic direction for using its advantages and expanding its development space. The resolution describes Dong Nai as a growth pole, a connectivity hub and a centre for industry, services, logistics and innovation.
Dong Nai has attracted investment from 51 countries and territories, with about 2,300 projects worth more than 47 billion USD. South Korea is its largest foreign investor, with nearly 470 active projects and about 8.4 billion USD in registered capital.
South Korean Ambassador Lee Miyun said Dong Nai was the first Vietnamese locality she had visited on an official working trip after presenting her credentials to Vietnam’s Party and State leaders in early October.
Lee said Dong Nai was a typical example of South Korean overseas investment, particularly in manufacturing, components and spare parts, and logistics. She hoped Korean firms would expand in advanced components and materials, smart logistics and cities, critical minerals and defence.
The ambassador called on Vietnam’s Government, Dong Nai authorities and other localities to keep investment policies stable and predictable and apply them consistently in business and trade.
Delegates discussed the Vietnam–South Korea Comprehensive Strategic Partnership, focusing on trade, sustainable investment and workforce training for the digital era. They also discussed science, technology and cultural industries during digital transformation, along with green, sustainable and inclusive growth. Vietnamese agencies and Korean partners signed memoranda of understanding on cooperation.
Sources: VietnamPlus / Vietnam News Agency
