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.
Maritime traffic in and out of Iran will be controlled by the U.S. military Washington said. Iran warns of harsh response to the blockade. A two-we...
The Iranian President, Masoud Pezeshkian, said that the U.S. hegemonic approach has been the main obstacle to r...
Hungary’s veteran nationalist leader Viktor Orbán has lost power to the centre-right Tisza party in Sunday’s national election a...
South Korean President Lee Jae Myung and Polish Prime Minister Donald Tusk agreed on Monday to upgrade bilateral relations to a “comprehensiv...
Pope Leo XIV is set to make history this April, becoming the first pontiff ever to visit Algeria. The trip forms part of a wider African tour, taki...
Maritime traffic in and out of Iran will be controlled by the U.S. military Washington said. Iran warns of harsh response to the blockade. A two-week ceasefire was announced on Tuesday last week but peace talks over the weekend in Pakistan failed to reach an agreement.
The Iranian President, Masoud Pezeshkian, said that the U.S. hegemonic approach has been the main obstacle to reaching a fair agreement, his office announced on Monday.
South Korean President Lee Jae Myung and Polish Prime Minister Donald Tusk agreed on Monday to upgrade bilateral relations to a “comprehensive strategic partnership”, placing defence cooperation at its core.
Spanish Prime Minister Pedro Sanchez declared on Monday that China must assume a far more substantial leadership role on the global stage, urging Beijing to take the helm on critical issues ranging from climate change and security to defence and the fight against extreme inequality.
Hungarians vote in elections on Sunday that could see the end of hard right nationalist Prime Minister Viktor Orbán’s more than 15 year rule. Opinion polls show Orbán’s Fidesz party trailing 45-year-old Péter Magyar’s centre-right opposition Tisza party.
U.S. and Iranian negotiators held their highest-level talks in half a century in Pakistan on Saturday in an effort to end their six-week war, as President Donald Trump said the U.S. military had begun the process of clearing the Strait of Hormuz.
At least 30 people were killed on Saturday in a stampede at Haiti’s Laferrière Citadel World Heritage Site, with authorities warning that the death toll could rise.
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Benjamin Netanyahu was blown up in a Spanish town.
Nine suspects were arrested on Saturday (11 April) in connection with a terror attack targeting a police post in Istanbul’s Beşiktaş district.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment