South Korea and Vietnam agreed to deepen cooperation in the financial sector, focusing on stock market systems and policy exchanges. Officials highlighted the importance of sharing knowledge and strengthening fintech, insurance, and broader financial services. The agreement also reflects the growing role of Korea-Vietnam trade in driving regional economic growth.
In Seoul, Financial Services Commission Vice Chairman Kwon Dae-young met with Vietnam’s Deputy Finance Minister Nguyen Duc Chi. During their talks, both emphasized that financial cooperation must expand into new areas. They agreed that the insurance industry and financial technology sector should become new pillars. Moreover, they committed to policy coordination that supports long-term market stability.
The two nations already collaborated on financial IT system upgrades. South Korea previously secured a $28.7 million deal to modernize Hanoi’s stock and derivatives markets. Since then, the next-generation IT system has been running successfully, offering Vietnam a stronger base for growth. Consequently, officials see this new agreement as a natural extension of earlier projects.
Korea-Vietnam trade has also been supported by leadership-level engagement. President Lee Jae Myung and Vietnam’s leader To Lam recently reaffirmed commitments to stronger trade and financial cooperation. They agreed to increase bilateral trade to $150 billion by 2030. These pledges highlight how vital Korea-Vietnam trade has become for both countries.
Vietnam remains South Korea’s third-largest trading partner and hosts nearly 10,000 Korean companies. Bilateral trade volume reached $86.7 billion last year, reflecting steady growth despite global headwinds. Therefore, boosting financial links will support businesses and provide more opportunities for investors.
The agreement extends beyond stock markets into fintech and insurance. Fintech development, in particular, will modernize payment systems, improve financial access, and accelerate digital banking services. Insurance cooperation will also give both countries the chance to design new products for growing middle-class populations. In addition, both sides plan to continue working on regulatory reforms that make cross-border investment easier.
Ultimately, the talks mark another milestone in bilateral ties. Korea-Vietnam trade will benefit from stronger financial cooperation, digital innovation, and expanded insurance markets. With clear goals and long-term vision, the two countries are building a partnership that supports sustainable growth across Asia.
