South Korea and Vietnam agreed to expand cooperation beyond traditional manufacturing into artificial intelligence (AI), energy, and advanced technology at a bilateral business forum held during President Lee Jae-myung's state visit to Vietnam. The forum yielded tangible results, including more than 70 memoranda of understanding (MOUs) and contracts.
The Korea Chamber of Commerce and Industry (KCCI) hosted the Korea-Vietnam Business Forum in Hanoi on Tuesday, drawing some 500 political and business leaders from both countries, including President Lee and Vietnamese Prime Minister Pham Minh Chinh. The Korean delegation included KCCI Chairman Chey Tae-won, Samsung Electronics Chairman Lee Jae-yong, LG Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin, POSCO Holdings Chairman Chang In-hwa, HD Hyundai Chairman Chung Ki-sun, GS Chairman Huh Tae-soo, Doosan Enerbility Chairman Park Jeong-won, Hyosung Chairman Cho Hyun-joon, Daewoo E&C Chairman Jung Won-ju, Hyundai Motor President Sung Kim, and Naver CEO Choi Soo-yeon. From the Vietnamese side, Finance Minister Nguyen Van Thang, Industry and Trade Minister Nguyen Hong Dien, and chief executives of state-run and private firms such as PVN, EVN, and Vietnam Airlines attended.
In his welcoming remarks, KCCI Chairman Chey said, "Based on the bilateral relationship that has grown closer over the past 30 years in both trade and investment, it is now time to take another leap forward." He added, "Going forward, we need cooperation that creates higher added value in areas such as advanced manufacturing, services, and digital, beyond simply expanding scale."
Held under the theme "Advancing the Industry, Investment, and Science & Technology Partnership," the forum addressed four key areas: nurturing talent, energy, AI transformation (AIX), and technology. Na Ki-hong, head of Samsung's Vietnam strategic cooperation office, introduced cases of manufacturing innovation consulting and smart factory support while unveiling plans to expand future-technology education for youth. SK Innovation CEO Chou Hyung-wook underscored the importance of power infrastructure for building an AI ecosystem and shared roadmaps for joint projects, including the Quynh Lap liquefied natural gas (LNG) power plant. KIST President Oh Sang-rock proposed a cooperation strategy combining Korea's maturity with Vietnam's dynamism, while Vietnamese speaker Nguyen Trung Chinh, chairman of CMC, shared innovation strategies for advanced industries based on AI and science and technology.
A series of major MOUs and contracts were signed. SK Innovation and SK Telecom signed MOUs with Vietnam's National Innovation Center (NIC) and Nghe An Province, respectively, on building AI data centers and infrastructure. Daewoo E&C signed an MOU with Vietnam's Saigontel for joint development and construction of a data center business. In the energy sector, Doosan Enerbility signed agreements with PTSC and PETROCONs on cooperation in Vietnam's new nuclear power projects, while Taihan Cable & Solution agreed with New Tecons on power-grid upgrades and extra-high-voltage cable cooperation. POSCO Future M received an investment registration certificate (IRC) from Thai Nguyen Province to build an artificial graphite anode material plant, formally launching efforts to establish a secondary battery materials supply chain.
At a business roundtable preceding the forum, 26 leading executives from both countries discussed sector-specific cooperation. Heads of core Vietnamese firms, including PVN, EVN, Vingroup, and FPT, met face-to-face with Korean conglomerate chiefs to strengthen strategic communication. Participating companies identified Vietnam as both a key production base and strategic market, voicing their commitment to broadening partnerships around advanced industries. Some firms shared cooperation blueprints in future sectors such as energy, data centers, and smart cities, suggesting strong prospects for future commercialization.
Yoon Chul-min, head of KCCI's international trade division, said, "This visit confirmed concrete cooperation possibilities between companies of both countries. We will continue to provide close support to translate these into tangible outcomes, particularly in strategic areas such as AI, energy, and infrastructure."
