Vietnam steps up as a regional leader

Vietnam wisely chose South Korea to showcase a new strategic-economic partnership in the region, focusing on growing trade, investment, and diplomatic cooperation.

- Kavi Chongkittavorn

As the first country to dispatch a top leader to meet newly elected President Lee Jae-myung, the Hanoi government sends a clear signal to both Northeast and Southeast Asia that South Korea and Vietnam are emerging together as a driving force of regional connectivity and economic growth.

The two leaders made an impressive pledge —US$150 billion (4.9 trillion baht) in trade within the next five years, nearly double last year’s trade volume of US$87 billion. Achieving this ambitious target will require their full commitment, reinforcing a partnership that extends beyond economics into technology, education, and cultural exchange.

After six months of political uncertainty at home, Seoul has bounced back with a more assertive regional policy. The highly visible optics of the trip of Vietnam's Party Secretary General To Lam were carefully calibrated, underscoring Seoul’s recurrent effort to raise its profile globally. Both countries are deepening their comprehensive strategic partnership, which was upgraded in 2022, that blends economic ambition with strategic trust.

Mr Lee and Mr Lam affirmed that their countries are each other's leading and important partners across all fields, boosting a substantive and effective partnership to a new level. Among Asean members, Vietnam has also established the most comprehensive cooperation with Korea in science, technology, innovation, and digital transformation. This includes joint research, training, and exchanges in AI, semiconductors, biotechnology, materials, and energy.