Vietnamese and Korean companies will continue to strengthen their ties to take bilateral trade and investment to new heights, surpassing current levels three- to four-fold.

That was the remark made by Prime Minister Pham Minh Chinh at the Vietnam-Korea Economic Forum on Friday, which was graced by the presence of ROK President Yoon Suk Yeol.

The PM expressed his gratitude to Korean companies, which have been playing a role in the economic ties between the two countries for the past three decades. He said their efforts were a clear manifestation of an unwavering partnership that had been built on shared interests and goals.

He called on Korean companies to push ahead with more investments in digital transition, biotechnology, green energy, semiconductors, smart city, and high-tech agriculture to change Viet Nam's economic landscape.

He called on Korean associations to take on the role of 'speakers' for Korean companies, which would voice concern at any legal hindrance to their business in the country. He said the Vietnamese government would make every single voice heard and take measures to handle any such hindrance.

President Yoon Suk Yeol said the two countries should strengthen their bilateral relations to deal with the growing uncertainties in the world. Culture, commerce, and investment would be sectors on the agenda in the short term.

The president also underlined the need to raise bilateral trade to over US$150 billion cumulatively by 2030, which, in turn, would be a catalyst for the surge in other sectors.

He also said the ROK would assist Viet Nam in the development of its technology infrastructure. More cooperation would continue in the digital and energy transitions.

He closed his speech with the remark that the amicable relationship between Viet Nam and the ROK would last as long as the Mekong River, which never stops flowing.

Cho Huyn Joon, Chairman of the Hyosung Cooperation, said his corporation first established its presence in Viet Nam 20 years ago. It always sees Viet Nam as a strategic market and is planning to expand its operation in the country with 10,000 more job openings.

"We want to play a part in Viet Nam's economic growth and we see ourselves doing business in Viet Nam in the next century," said the chairman.

About 9,000 Korean companies are operating in Viet Nam, with about $1.3 billion invested in renewable energy and green growth. They play important roles in various industries, including electronics and construction. — VNS