At the meeting, Thuong affirmed that Vietnam consistently supports the RoK’s greater role in the region and the world. Meanwhile, Yoon emphasised that the East Asian nation always values the comprehensive strategic partnership it shares with Vietnam and considers the country a key partner and a priority in its implementation of policies in the region.
Based on the countries’ comprehensive strategic partnership, the leaders said they will work to build the bilateral political relations and defence-security cooperation at a higher level of trust and in a more substantive manner; and continue to maintain regular all-level visits and engagements through various flexible forms.
The Presidents highlighted the need for joint efforts to make economic cooperation more effective, striving to soon achieve the goal of raising the bilateral trade to 100 billion USD and then to 150 billion USD by 2030 in a balanced and sustainable manner.
The RoK agreed to further open its market for Vietnamese agro-fisheries products and seasonal fruits and support Vietnamese businesses in participating more deeply in the global supply chains of RoK enterprises. Vietnam welcomed Korean enterprises’ new investments and investment expansions particularly in such priority areas as infrastructure development, key national and BOT (build-operate-transfer) projects regarding thermal power plants, liquefied natural gas (LNG), high-tech electronics and semiconductors production, big data, biotechnology and smart city development. It wished the RoK to focus on transferring source technology to Vietnam.
Thuong and Yoon lauded the signing of a bilateral agreement involving the RoK’s Economic Development Promotion Facility (EDPF) worth 2 billion USD to implement large-scale investment projects in Vietnam's transportation and urban infrastructure sectors. The RoK said it continues to consider Vietnam a "strategic partner" for ODA; and further expands non-binding and preferential forms of ODA cooperation similar to EDPF as well as the scale of non-refundable assistance for the country, especially in research and development (R&D), innovation, healthcare, and environment.
Both leaders were pleased with the renewing of the Memorandum of Understanding on sending and receiving Vietnamese workers to work in the RoK under the country's Employment Permit System (EPS). They concurred to boost the reception of Vietnamese workers and expand labour cooperation between the countries, particularly skilled workers and those working in new industries of RoK’s demand.
The sides also committed to diversifying forms of scientific and technological cooperation. The RoK would support Vietnam in accessing core and modern technologies, and implementing strategic tasks related to climate change adaptation and greenhouse gas emission reduction in line with Vietnam's commitments at COP 26.
It is necessary to increase people-to-people and locality-to-locality exchanges as well as simplify procedures to facilitate travel, work, and residence for citizens of both countries, they noted. The RoK would support Vietnam in developing cultural industries and provide additional scholarships for Vietnamese students to study in the RoK.
Both said they will continue enhancing close cooperation and mutual support at international forums, and join hands respond to global challenges and non-traditional security issues. They emphasised the importance of ensuring peace, security, safety and freedom of navigation and overflight in the East Sea/South China Sea; maintaining a peaceful, stable environment and a legal order; and resolving disputes at sea through peaceful means to ensure the legitimate rights and interests of nations in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
They affirmed a close coordination within the ASEAN and Mekong frameworks, especially during Vietnam's term as xcoordinator of the RoK-ASEAN relationship for 2021-2024. Thuong took the occasion to stress Vietnam's consistent policy of supporting denuclearisation and promoting dialogue and cooperation on the Korean Peninsula, as well as its readiness to contribute to the process.
Following their talks, the Presidents witnessed the signing ceremony of 17 bilateral cooperation documents in the fields of economy, trade, finance, development cooperation, labour, environmental resources, coast guard and locality-to-locality cooperation.
