NewzVille International
South Korea and Vietnam will pledge deeper economic and strategic cooperation when their leaders hold a summit on Monday, as the former Cold War-era foes seek to leverage their business ties to navigate a challenging global trading environment.
South Korean President Lee Jae Myung hosts Vietnamese leader Lam as his first state guest since taking office on 4 June, and will discuss promoting trade and investment in the Southeast Asian country.
The countries plan to sign at least 10 memoranda of understanding at the summit meeting, pledging cooperation in nuclear and renewable energy, monetary and financial policies, and science and technology.
South Korean companies have been cited as potential investors in Vietnam’s planned nuclear energy, LNG power plants, and high-speed rail projects. Trump has imposed a tariff rate of 15% for South Korean goods and 20% for imports from Vietnam.
Viet Nam is South Korea’s third-largest trading nation and a major partner for cooperation within the Association of Southeast Asian Nations (ASEAN).
