South Korea and Vietnam agreed on Monday to deepen economic cooperation and accelerate joint efforts to mitigate the impact of looming U.S. tariffs, following a ministerial meeting in Hanoi.
South Korea and Vietnam agreed on Monday to expand economic cooperation after a ministerial meeting on Monday, at a time when the two countries are racing to mitigate the impact of potential U.S. tariffs.
South Korea's industry minister Ahn Duk-geun is visiting Vietnam as the two countries scramble to negotiate a reduction of threatened U.S. tariffs of 25% and 46%, respectively, that would otherwise apply in July after a global moratorium expires.
Korean companies are the biggest foreign investors in Vietnam, and the Southeast Asian nation is South Korea's No. 3 export destination.
The two countries agreed on action plans to ensure they can meet an existing target to reach $150 billion in bilateral trade by 2030 and cooperate in the generation of nuclear energy and LNG power and investments in the textile and clothes industries, according to a statement from South Korea's industry ministry.
The agreement came during a meeting of Ahn and Vietnam's Trade Minister Nguyen Hong Dien in Hanoi.
Ahn also met with representatives of top South Korean companies, including Samsung Electronics 005930.KS, LG Electronics 066570.KS, Hyundai Motor 005380.KS and HS Hyosung 487570.KS. The minister pledged that Seoul will continue talks with both the U.S. and Vietnamese governments to minimise the impact of U.S. tariffs on Korean companies.
Samsung produces more than 60% of its phones sold globally in the country. Led by national champions such as Samsung, Korean companies have been building their presence in Vietnam for years as the costs of manufacturing in China rose along with political risks and competition.
Now, that reliance on Vietnam threatens to backfire as the looming steep tariffs exposed the vulnerability of the Southeast Asian country's export model.
China's President Xi Jinping also on Monday called for stronger ties with Vietnam on trade and supply chains amid disruptions caused by U.S. tariffs, as he kicked off a three-nation trip to Southeast Asia in Hanoi.
A passenger boat caught fire and capsized late Tuesday on the Congo River, killing at least 50 people and leaving hundreds more missing, officials confirmed Wednesday. The tragedy occurred near the northwestern town of Mbandaka in the Democratic Republic of the Congo.
The Chinese and Vietnamese navies have launched a week-long joint patrol in the Gulf of Tonkin, a move aimed at deepening maritime cooperation between the two countries.
Finnish power grid operator Fingrid announced on Wednesday that repairs to the damaged EstLink 2 subsea power line, which connects Finland and Estonia, will begin in May, with the line expected to return to commercial use by July 15, 2025.
U.S. President Donald Trump has signed an executive order directing the Secretary of Commerce to launch an investigation into the country’s heavy reliance on imported critical minerals.
Türkiye has firmly rejected Greece's unilateral actions and claims regarding maritime spatial planning (MSP) in the Aegean Sea and Eastern Mediterranean, asserting that these actions will have no legal consequences for Ankara.
A passenger boat caught fire and capsized late Tuesday on the Congo River, killing at least 50 people and leaving hundreds more missing, officials confirmed Wednesday. The tragedy occurred near the northwestern town of Mbandaka in the Democratic Republic of the Congo.
A new wave of attacks targeting French prisons has emerged overnight, with cars set on fire at several facilities, including at the Tarascon prison in southern France.
Iranian Foreign Minister Abbas Araqchi is set to visit Russia on Thursday, ahead of a second round of talks between Tehran and the United States regarding Iran's nuclear program. According to Russia’s RIA state news agency, Araqchi will meet with senior Russian officials during the visit.
Greece has submitted its long-awaited maritime spatial plan to the European Union, outlining how it will organize various maritime activities such as fishing, tourism, offshore energy, and more.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
Several regions in Ukraine faced heightened alert on Palm Sunday, as reports of explosions and missile threats drew public attention and official responses.
U.S. President Donald Trump will personally attend a key meeting with Japanese trade officials on Wednesday, signaling his direct involvement in negotiations stemming from his recent wave of tariffs on global imports.
Türkiye has firmly rejected Greece's unilateral actions and claims regarding maritime spatial planning (MSP) in the Aegean Sea and Eastern Mediterranean, asserting that these actions will have no legal consequences for Ankara.
A passenger boat caught fire and capsized late Tuesday on the Congo River, killing at least 50 people and leaving hundreds more missing, officials confirmed Wednesday. The tragedy occurred near the northwestern town of Mbandaka in the Democratic Republic of the Congo.
A new wave of attacks targeting French prisons has emerged overnight, with cars set on fire at several facilities, including at the Tarascon prison in southern France.
Iranian Foreign Minister Abbas Araqchi is set to visit Russia on Thursday, ahead of a second round of talks between Tehran and the United States regarding Iran's nuclear program. According to Russia’s RIA state news agency, Araqchi will meet with senior Russian officials during the visit.
Türkiye has firmly rejected Greece's unilateral actions and claims regarding maritime spatial planning (MSP) in the Aegean Sea and Eastern Mediterranean, asserting that these actions will have no legal consequences for Ankara.
A passenger boat caught fire and capsized late Tuesday on the Congo River, killing at least 50 people and leaving hundreds more missing, officials confirmed Wednesday. The tragedy occurred near the northwestern town of Mbandaka in the Democratic Republic of the Congo.
A new wave of attacks targeting French prisons has emerged overnight, with cars set on fire at several facilities, including at the Tarascon prison in southern France.
Iranian Foreign Minister Abbas Araqchi is set to visit Russia on Thursday, ahead of a second round of talks between Tehran and the United States regarding Iran's nuclear program. According to Russia’s RIA state news agency, Araqchi will meet with senior Russian officials during the visit.
Greece has submitted its long-awaited maritime spatial plan to the European Union, outlining how it will organize various maritime activities such as fishing, tourism, offshore energy, and more.
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