This will be Yoon’s first State-visit to Vietnam after he took office in May 2022. Vietnam will also be the first Southeast Asian nation he has chosen to travel to in his capacity as President of the Republic of Korea.

Yoon is scheduled to hold talks with Vietnamese President Thuong in Hanoi and witness the signing of a number of cooperation documents between the two countries.

He will also meet with other senior Vietnamese leaders, including Party General Secretary Nguyen Phu Trong, Prime Minister Pham Minh Chinh and National Assembly Vuong Dinh Hue.

During his stay, the RoK president is anticipated to attend a Vietnam – RoK cultural exchange, a Vietnam – RoK business forum, and an exhibition on trade, culture and cuisine of the RoK, among others.

Vietnam and the RoK established diplomatic ties in 1992, and the two countries upgraded their ties to a level of comprehensive strategic partnership in late 2022.

The RoK government has reaffirmed its resolve to strengthen relations with ASEAN in general and Vietnam in particular.

The RoK is currently the largest foreign investor in Vietnam with 9,559 projects valued at US$82 billion. It is the second largest ODA donor, pouring US$2.7 billion in preferential loans from the Korean Economic Development Cooperation Fund (EDCF).

It is Vietnams third largest trading partner, with two-way trade turnover last year hitting US$87 billion, up 11.4% year on year. The first quarter of 2023 alone saw bilateral trade turnover fetch US$18.1 billion.

The two countries maintain close coordination and cooperation in addressing issues of mutual concern at regional and international forums.