Republic of Korea's crucial role in the innovation ecosystem of Vietnam

At the reception, Prime Minister Pham Minh Chinh expressed his gratitude for Mr. Kim Jin Pyo’s affection for Vietnam and his important contributions to the bilateral relationship in his various positions, especially the relationship between the two countries’ legislative bodies; as well as his support for Vietnam in the fields of healthcare and public health care.

Mr. Kim Jin Pyo thanked the Prime Minister for taking the time to welcome him during his visit to Vietnam in January 2023 and was pleased to welcome Prime Minister Pham Minh Chinh on an official visit to the Republic of Korea (RoK) - the first visit by a senior Vietnamese leader to RoK after the two countries established a comprehensive strategic partnership in 2022, and believed that the relationship between the two countries would develop even more strongly in the coming time.

The former Chairman of the National Assembly of RoK highly appreciated the drastic and effective direction and management of the Vietnamese Government and the strong development of the Vietnamese economy in recent times. GDP growth in 2024 alone is likely to reach 6%, the highest in the region.

Mr. Kim Jin Pyo announced and proposed a number of projects and cooperation plans with Vietnam that he personally, the Korea Global Innovation Research Association, and Korean agencies will implement soon.

Specifically, continue to support the expansion of Hue Central Hospital (following the program to support Hue Central Hospital, branch 2); plan to build a medical human resource training center in the Central region; provide Korean language and vocational training for Vietnamese youth, especially in nursing, so that they can work in both Vietnam and RoK; exchange experiences in applying artificial intelligence in education; support connection with global innovation activities, etc.

Congratulating the achievements of the Korea Global Innovation Research Association, Prime Minister Pham Minh Chinh welcomed the proposals of Mr. Kim Jin Pyo and said that he would assign relevant agencies such as the Ministry of Planning and Investment, the Ministry of Education and Training, the National Innovation Center of Vietnam, and the People's Committee of Thua Thien - Hue province to continue to discuss specifically with the Center to implement specific projects and cooperation programs.

In particular, the Prime Minister hopes that the Korea Global Innovation Research Association and the Vietnam National Innovation Center will strengthen cooperation, exchange experiences, and participate in each other's innovation ecosystems in a practical and effective manner.

Earlier, on the morning of July 2, Prime Minister Pham Minh Chinh received Samsung Group Chairman Lee Jae Yong. In Vietnam, Samsung has invested 22.4 billion USD with a workforce of about 90,000 people. In 2023, Samsung Vietnam will export 55.7 billion USD.

Over the past 16 years, the cooperative relationship between Samsung and Vietnam has developed brilliantly, accompanying the development of Vietnam. “Vietnam’s success is Samsung’s success, Vietnam’s development is Samsung’s development,” the Chairman expressed.

Currently, 310 Vietnamese companies are partners in Samsung's production chain; there are 2,500 engineers and researchers at Samsung's Research and Development (R&D) Center in Hanoi, which includes a department that researches artificial intelligence in languages ​​other than Vietnamese. Samsung is also researching and developing 5G equipment.

Mr. Lee Jae Yong said that as Vietnam’s largest foreign investor and exporter, Samsung is committed to always accompany Vietnam in sustainable development in the spirit of "harmonious benefits and shared risks" that Prime Minister Pham Minh Chinh has mentioned many times.

In particular, Samsung plans to invest heavily in the next 3 years to make the factory in Vietnam the group's largest display module production base globally.

Prime Minister Pham Minh Chinh highly appreciated Samsung Group for investing and operating business in Vietnam. Samsung Group has actively contributed to the development of products applying modern technology, Vietnam’s import and export, and socio-economic development.

Korea is Vietnam’s third-largest trading partner. In 2023, bilateral trade turnover between Vietnam and Korea reached 79.43 billion USD, of which Vietnam’s export turnover to Korea reached 25.94 billion USD and import turnover reached 53.49 billion USD. In 2023, the import-export turnover of agricultural, forestry and fishery products between Vietnam and Korea was 2.77 billion USD.