Vietnam and South Korea: Navigating Trade Tensions and Technology Transfer

South Korea's President Lee Jae Myung is set to host Vietnam's top leader, To Lam, aiming to enhance cooperation in technology amidst global trade tensions. The visit marks the first state interaction since President Lee's tenure began, underlining both nations' reliance on technology and trade in maintaining robust ties.

South Korean President Lee Jae Myung is ready to welcome Vietnam's top leader, To Lam, next week to strengthen ties in the field of technology, amid looming global trade uncertainties. Sources reveal that this meeting, yet to be officially announced, is the first state visit under Lee's administration.

Trade tensions have heightened following new tariffs imposed by the Trump administration, impacting exports from countries such as South Korea and Vietnam. This situation poses challenges in their bilateral trade discussions. While the South Korean presidential office did not comment, Vietnam's foreign ministry also remained unresponsive.

Despite a potential slow-down in Korean investments, notably visible in recent data, companies remain hopeful, primarily due to Vietnam's competitive advantages like lower labor costs and significant tax incentives. Samsung Electronics, a key player, continues to find Vietnam an ideal export hub.

(With inputs from agencies.)