Vietnam Seeks Deeper Ties with South Korean Conglomerates

Deputy Prime Minister Ho Quoc Dung proposed expanding joint research programmes, particularly in strategic areas where Vietnam has development needs, and KIST has strengths, including semiconductor integrated circuits, AI, batteries and energy storage, and biotechnology. President of the Vietnamese National Assembly Tran Thanh Man said the Vietnamese delegation was the first foreign one to make an official visit at the invitation of NA Speaker of the Republic of Korea (RoK) Cho Jeong Sik, with representation from the Party, NA, Government and localities. Stronger SME ties could become the main pillar in shifting Vietnam–RoK relations from quantitative growth towards qualitative development, according to KOVECA Vice Chairman Kwon Sung Taek. Prime Minister Le Minh Hung called for stronger digital transformation, including fully digitising the supply chain - from manufacturing plants and import warehouses to retail pharmacies - through national database systems. Data presented in the report reflects effective migration governance in recent years. The average recruitment cost paid by migrant workers dropped by 23.8%, from 164.9 million VND (6,400 USD) in 2021 to 125.7 million VND in 2025. Conversely, average first-month earnings abroad rose by 25.4%, increasing from 22.4 million VND to 28.1 million VND. According to ACI’s classification, Noi Bai and Tan Son Nhat were placed among the most improved airports in the 25–40 million passenger-per-year category, while Da Nang was recognised as a top improver in the 5–15 million passenger segment. The official visit to France by General Secretary of the Communist Party of Vietnam Central Committee and President To Lam is expected by the French business community to further consolidate bilateral ties and serve as a “catalyst” for accelerating joint projects. The survey, which gathered responses from around 150 European business leaders, also pointed to stronger expectations for trade and investment across ASEAN. Pressure from the new US tariff policy is prompting Vietnamese exporters to reassess their strategies. Rather than pursuing volume-driven growth, many are shifting towards higher-value orders, tighter cost control, greater productivity and a more balanced allocation of markets to reduce reliance on a single destination. Updates from the National Statistics Office last week showed that nearly 138,100 businesses were newly founded from January to August, up 7.7% over the same period last year, while more than 40,800 businesses completed dissolution procedures, a jump of 125.5%. According to the CAEXPO Secretariat, Vietnam will once again lease an entire exhibition area of about 3,000sq.m, featuring 170 booths, making it one of the ASEAN countries with the largest exhibition spaces at this year’s event. Nearly 100 Vietnamese businesses have confirmed their participation, including major brands such as Trung Nguyen Group, TH Group, Saigon Coffee and Biti’s. Deputy Minister of Finance Nguyen Thi Bich Ngoc said the products and services include investment funds and asset management, asset-backed digital assets, international carbon credits, commodity trading and derivatives infrastructure linked to trade and supply-chain financing, financial technology, and bonds issued at the centre. As these groups are at different stages of readiness, they will be rolled out in phases rather than simultaneously. Many key sectors posted strong growth compared with the same period in 2025, providing an important foundation for the country to strive for its double-digit growth target. The promotion applies to flights scheduled between September 10, 2026, and September 10, 2027, offering passengers a wider range of options to proactively plan their upcoming trips. The opening-hour buying and selling rates at major commercial banks also saw decreases. A Quang Ninh official praised the collaboration between Siemens Mobility and VinSpeed in developing the Hanoi–Quang Ninh high-speed railway and expressed his hope that the project will pave the way for future cooperation between Siemens Mobility and Quang Ninh in modern railway development and workforce training. By hosting the 10th UNCITRAL Working Group III intersessional meeting, Vietnam wishes to continue playing an active and proactive role in UNCITRAL in general and Working Group III in particular, working alongside the international community to strengthen cooperation, share experience and contribute to the development of the international legal framework. Vietnam has about 1.2 million hectares of fruit-growing areas, producing around 13 million tonnes a year. Its fruits are exported to more than 60 countries, including major markets such as the US, the EU, Japan, the Republic of Korea and China. The country is also among the world’s leading exporters of rice, cashew nuts, pepper and coffee, with its products reaching more than 150 countries, including markets with stringent standards. John Campbell, Director and Head of Industrial Services at Savills Vietnam, said investment in electronics and semiconductors continued to concentrate in northern localities, which have developed relatively complete manufacturing ecosystems encompassing industrial infrastructure, technical labour and supplier networks. The Ministry of Industry and Trade’s Department of Foreign Markets said Korean companies showed strong interest in Vietnam International Sourcing (VIS 2026), covering food, logistics, digital technology, mechanics, shipbuilding, seafood and distribution. According to the Vietnam Coffee Cocoa Association (Vicofa), Vietnam exported nearly 1.7 million tonnes of coffee in the first eight months, earning more than 6 billion USD. Export volume rose by over 10% year on year, while export value fell by 11.2% due to lower export prices. Vietnam’s Index of Industrial Production (IIP) rose 11.9% year-on-year in the first eight months of 2026, the highest growth rate for the period in many years. The Government has issued a decree detailing the Law on Commerce and the Law on Foreign Trade Management regarding goods trading and related activities by foreign investors and foreign-invested economic organisations in Vietnam. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.