Strategic infrastructure cooperation reached a new milestone as leaders from Korea and Vietnam expanded their partnership into forward-looking industries. The summit brought together President Lee Jae Myung and General Secretary To Lam to confirm commitments in energy, transportation, and technology. Both nations pledged to create favorable conditions for business involvement and sustainable growth.
The agreement places strong emphasis on nuclear power and high-speed rail. President Lee expressed his intent for Korean companies to join Vietnam’s nuclear plant construction and the north-south high-speed railway project. These projects reflect the core of strategic infrastructure cooperation, aiming to provide reliable energy and advanced transport for Vietnam’s rapidly growing economy.
Vietnam’s nuclear power plans are accelerating, with new plants under review. As part of strategic infrastructure cooperation, the two countries will run training programs and share technical expertise. A memorandum between Korea Electric Power Corp. and Petrovietnam will give Vietnam deeper insight into Korean-designed nuclear plants and help prepare for future projects.
The high-speed rail project linking Hanoi and Ho Chi Minh City carries an estimated cost of $65.3 billion. When completed, the 1,500-kilometer line will reduce travel time from 30 hours to under six. Korean companies see this as a chance to showcase railway technology and large-scale project management skills.
Beyond energy and rail, the summit covered urban infrastructure development in Bac Ninh province. Leaders also addressed renewable energy, finance, and advanced technology cooperation. President Lee requested continued support for the 10,000 Korean businesses operating in Vietnam, underscoring the economic dimension of the partnership.
Trade growth formed another key priority. Both nations agreed to raise bilateral trade to $150 billion by 2030, marking a substantial jump from current levels. Strengthening market access and improving investment flows remain central to their shared vision.
Vietnam ranks as Korea’s third-largest trading partner after the United States and China. Both exports and imports have shown consistent growth in recent years. Leaders stressed that boosting trade will reinforce the long-term success of strategic infrastructure cooperation.
Cultural ties were also celebrated during the visit. President Lee described Korea and Vietnam as “countries of in-laws” due to many multicultural families. The leaders’ spouses attended cultural activities, including a visit to the National Museum of Korea.
Lam’s visit marked the first by a Vietnamese general secretary in a decade and the first head of state visit since President Lee took office. Officials on both sides view this as a pivotal moment for shaping future bilateral relations.
