South Korea and Vietnam have pledged to boost annual trade to $150 billion by 2030, signing 10 cooperation deals as new U.S. tariffs disrupt global supply chains.
South Korean President Lee Jae Myung hosted Vietnamese Communist Party general secretary To Lam in Seoul on Monday, marking his first state guest since taking office in June. The two leaders avoided public mention of U.S. President Donald Trump’s new levies — 15% on South Korean exports to the U.S. and 20% on Vietnamese goods — but emphasised the need to safeguard bilateral trade and investment.
Vietnam’s trade with South Korea was worth about $86.8 billion in 2024, official figures show. Lam said he welcomed further South Korean investment, noting that some 10,000 Korean companies are already operating in Vietnam. Lee said those firms “contribute to Vietnam’s economic development and mutually beneficial cooperation between the two countries.”
The governments signed 10 memoranda of understanding covering nuclear and renewable energy, finance, science and technology, and infrastructure such as high-speed rail. Lam, addressing Yonsei University in Seoul, urged South Korean firms to expand their presence in Vietnam and warned of the risks from fragmenting supply chains.
He called for joint development of semiconductors and new materials, and for South Korea to help train Vietnamese workers in sectors including artificial intelligence, biotechnology and shipbuilding.
Major South Korean companies, including Samsung Electronics, have long used Vietnam as a manufacturing and export hub, benefiting from lower labour costs, tax incentives and Hanoi’s network of free trade agreements. Potential areas for future investment include nuclear energy, LNG power plants and high-speed rail projects, Vietnamese officials said.
Ukraine’s top military commander has confirmed that troops are facing “difficult conditions” defending the strategic eastern town of Pokrovsk ag...
U.S. President Donald Trump has said he ordered the Pentagon to prepare for possible military action in Nigeria and suspended aid, citing alleged kill...
The United Nations Security Council on Saturday adopted Resolution 2797 (2025), renewing the mandate of the United Nations Mission for the Referendum ...
An explosion believed to be intentional struck the Harvard University Medical School’s Goldenson Building in Boston early Saturday, with two people ...
Amid rising geopolitical tensions and growing uncertainty in the global trade system, Asia-Pacific leaders concluded the annual APEC summit on Saturda...
Ukraine’s top military commander has confirmed that troops are facing “difficult conditions” defending the strategic eastern town of Pokrovsk against a multi-thousand Russian force.
U.S. President Donald Trump has said he ordered the Pentagon to prepare for possible military action in Nigeria and suspended aid, citing alleged killings of Christians in the country.
The United Nations Security Council on Saturday adopted Resolution 2797 (2025), renewing the mandate of the United Nations Mission for the Referendum in Western Sahara (MINURSO) for one year until October 31, 2026.
Amid rising geopolitical tensions and growing uncertainty in the global trade system, Asia-Pacific leaders concluded the annual APEC summit on Saturday with a joint declaration emphasizing resilience and shared benefits in trade.
Reports from CNN say the Pentagon has approved the provision of long range Tomahawk missiles to Ukraine after assessing its impact on U.S. stockpiles, while leaving the ultimate decision to President Trump.
Tanzanian police fired tear gas and live rounds on Thursday to disperse protesters in Dar es Salaam and other cities, a day after a disputed election marked by violence and claims of political repression, witnesses said.
Torrential rain battered New York on Thursday, leaving two people dead, Mayor Eric Adams confirmed, as severe storms disrupted flights and prompted flood warnings across parts of the city.
The United Nations has warned of a catastrophic humanitarian situation in Sudan after reports emerged of mass killings, sexual violence, and forced displacements following the capture of al-Fashir by the Rapid Support Forces (RSF).
Residents of Hoi An, Vietnam’s UNESCO-listed ancient town, began cleaning up on Saturday as floodwaters receded following days of torrential rain that brought deadly flooding and widespread destruction to the central region.
Chinese electric carmaker BYD is making major strides in Europe, with sales surging nearly fivefold in September from a year earlier to just under 25,000 new registrations.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment