HANOI — South Korean President Lee Jae Myung is set to meet Vietnam’s leader To Lam in Hanoi on Wednesday as the two partners aim to boost energy and supply chain ties.
Mr. Lee’s trip to Hanoi is the second leg of a tour that started earlier this week in India, where he agreed to expand trade and cooperation in multiple fields, including energy, critical minerals, shipbuilding, semiconductors and steel.
At least a dozen government cooperation agreements are planned with Vietnam, and there may also be business deals. A large delegation accompanying Mr. Lee to Hanoi is expected to include executives from Samsung Electronics, SK Group, Hyundai, and LG Group, people familiar with the matter said, as talks with Samsung for a possible back-end semiconductor factory progress.
South Korea is the largest investor in the Southeast Asian nation in terms of accumulated capital, with output from Samsung factories alone accounting for more than one-tenth of the country’s exports. Yet Korean investment pledges fell about 25% last year from 2024, according to Vietnam’s government data, amid trade uncertainties and concerns over Vietnam’s regulations.
The leaders are set to discuss developing relations in areas including energy, global supply chains and critical minerals, Mr. Lee’s adviser Wi Sung-lac told media last week. Culture and industrial issues are expected to be on the table as well.
The meeting is the leaders’ second in about eight months, after Mr. Lam visited Seoul in August, the first foreign leader hosted by Mr. Lee after he was elected president.
Seoul has also expressed interest in some of Vietnam’s largest infrastructure projects, such as railways and nuclear power plants.
Mr. Lee arrived in Hanoi late on Tuesday and is expected to depart on Friday after attending a business forum with Vietnamese and South Korean businesses on Thursday. — Reuters
