South Korea's Lee to host Vietnam leader to deepen ties, tout global free trade

SEOUL: South Korean President Lee Jae Myung will host Vietnamese leader To Lam for a four-day state visit starting on Sunday and discuss deepening cooperation in trade, investment and nuclear energy, Lee's office said on Thursday.

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Vietnam's leader visits South Korea to strengthen trade and strategic cooperation amid rising US tariffs.
Talks include infrastructure, LNG power plants, and expanding South Korean business in Vietnam.
Both countries aim to protect free trade and explore deeper regional partnerships despite US pressure.

Lam, Vietnam's Communist Party general secretary, is the first foreign leader to visit South Korea since Lee's election in June and the trip comes after both countries reached trade deals with the United States, avoiding higher U.S. tariffs on their goods.

Besides trade and investment, the leaders will discuss cooperation on strategic issues including regional security as well as a high-speed train and other infrastructure projects, South Korea's presidential spokesperson Kang Yu-jung said.

U.S. President Donald Trump said the U.S. would impose a tariff rate of 15% for South Korean goods and 20% for Vietnamese goods imported by the United States.

South Korean companies such as Samsung Electronics have poured billions of dollars into Vietnam to expand their manufacturing footprint beyond China, but Trump's tariff policy has increased uncertainty over future investment commitments.

A South Korean source with knowledge of the upcoming summit said the leaders will also discuss the construction of LNG power plants and plans by some of South Korea's biggest companies to expand their businesses in Vietnam.

In written comments to the Vietnam News Agency published on Thursday, Lee said South Korea was committed to expanding business and economic cooperation in the Southeast Asian country that is its third-largest trading partner.

"I'm also hopeful that the history of economic cooperation by South Korea and Vietnam will be the platform that will contribute to the restoration of a mutually beneficial world order that is based on free trade," Lee said.