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South Korea, Vietnam set $150 billion trade goal, sign 10 cooperation MOUs

( August 11, 2025, 05:31 GMT | Official Statement) -- MLex Summary: South Korean President Lee Jae Myung met General Secretary of Vietnam's Communist Party To Lam in Seoul today, agreeing to deepen their “comprehensive strategic partnership” and unveiling a joint statement outlining the summit’s outcomes. The leaders witnessed the exchange of 10 cooperation MOUs covering areas such as science and technology, energy, power grids, critical minerals and major infrastructure projects including new urban developments, high-speed rail and nuclear power. They committed to fully utilizing the South Korea-Vietnam FTA to reach $150 billion in trade by 2030 and to support stable operations for some 10,000 South Korean companies in Vietnam. The two sides also pledged to expand joint research in artificial intelligence, semiconductors and biotechnology, cooperate on peace initiatives for the Korean Peninsula, and work together for the successful hosting of future APEC summits.The statements from South Korea's presidential office, in Korean, are attached....

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