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.
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Donald Trump said Monday that any country doing business with Iran will face a 25% U.S. tariff on all trade with the United States, with the measure taking effect immediately.
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement.
The UK government will introduce a new criminal offence this week targeting the creation of non-consensual intimate images, Technology Secretary Liz Kendall announced on Monday, amid growing concerns over AI-generated deepfakes.
Apple will use Google’s Gemini artificial intelligence models for its revamped Siri voice assistant later this year, in a multi-year deal that strengthens the tech giants’ partnership and boosts Alphabet’s position in the race against OpenAI.
Real Madrid have parted ways with coach Xabi Alonso, appointing former defender Álvaro Arbeloa as his replacement.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Israel has sharply escalated its warnings to Lebanon amid rising regional tensions linked to Iran, according to a report by the Lebanese newspaper Nida Al Watan.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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