AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

Kim Hye In
  • Da Nang Apartment Presale Prices Jump as New Supply Shifts to Luxury Units
    Da Nang Apartment Presale Prices Jump as New Supply Shifts to Luxury Units Da Nang’s apartment market is increasingly centered on high-end and luxury projects, pushing prices higher even as sales show signs of slowing amid high borrowing costs. All newly launched units were in the luxury segment, and presale prices posted double-digit gains, Vietnamese media reported Thursday, citing industry data. CBRE said 100% of apartments newly introduced in Da Nang in the first quarter were luxury units. The average initial presale price was about 83 million dong per square meter (about 4.67 million won), up about 12% from a year earlier. A report by Vietnam’s Ministry of Construction put the city’s average presale price at about 91 million dong per square meter (about 5.12 million won), up about 10%, attributing the rise to expanding luxury supply and price adjustments in later sales phases of already-launched projects. The shift upmarket has become more pronounced. While about 60% of last year’s new supply was in the high-end segment priced at 60 million to 120 million dong per square meter, all new supply last quarter was priced above 120 million dong per square meter. Avison Young said about 20 projects have been launched over the past two years, most in the high-end and luxury tiers. Current primary-market asking prices are about $3,570 per square meter, or above 90 million dong. Supply is concentrated along the Han River in the Hoa Xuan and An Hai areas. Projects there posted an absorption rate of about 60%, with most buyers coming from Hanoi and Ho Chi Minh City. Still, as prices climbed, the average absorption rate for new projects has remained around 50% to 60%. Experts said absorption appears to have stalled or edged down compared with the peak late last year. Analysts also pointed to a mismatch between supply and demand. Buyers ages 23 to 39 seeking long-term residence in Da Nang tend to prefer more affordable or mid-priced housing, but the market is dominated by high-end and luxury offerings. Duong Thuy Dung, CEO of CBRE Vietnam, said absorption is the market’s biggest challenge in a high-interest-rate environment, especially because many local buyers are investing rather than purchasing for occupancy. New supply is expected to ease. Real estate services firm DKRA forecast 1,000 to 1,500 units will be released in the second quarter, slightly fewer than in the first quarter, with supply concentrated in the Ngu Hanh Son area, which still has room for development. DKRA said buyers are becoming more cautious and selective, and market liquidity could weaken compared with 2025. Even so, developers’ presale prices remain elevated. Higher land and material costs, along with market pricing, are expected to keep prices near current levels. CBRE forecast Da Nang’s apartment segment will continue to grow 10% to 12% annually, citing scarce land in the city center, riverfront and coastal areas, as well as plans to open a Vietnam international financial center, establish a free trade zone and advance major infrastructure projects. Experts said the market needs better balance across segments to avoid supply piling up in specific areas and price bands. Industry observers warned that localized oversupply could undermine buyer sentiment and confidence.* This article has been translated by AI. 2026-04-30 16:13:59
  • VietJet Moves to Expand Long-Haul Service, Eyes Europe as It Seeks Multinational Group Status
    VietJet Moves to Expand Long-Haul Service, Eyes Europe as It Seeks Multinational Group Status Vietnamese low-cost carrier VietJet is stepping up plans to enter European routes and says it aims to grow into a “multinational aviation group,” moving beyond its short-haul budget roots. Vietnamese media including Cheongnyeon Sinmun reported on April 28 (local time) that South Koreans were the second-largest group of foreign visitors to Vietnam in the first quarter, totaling 1,326,425. VietJet, well known to Korean travelers for low fares, has now outlined a shift in strategy: paying shareholders stock dividends instead of cash and raising large sums externally to open long-haul routes to Europe and the Americas. At its annual shareholders meeting in Ho Chi Minh City on April 24, VietJet approved a 30% stock dividend, corporate bond issuance and a plan to issue new shares worth up to $300 million (about 440 billion won). The package signaled a preference to reinvest rather than distribute cash, and shareholders backed the move. The company pointed to strong results last year. Revenue rose about 13% and pretax profit climbed 41%. VietJet carried 28.2 million passengers, added 22 aircraft and expanded its fleet to 101 planes. It logged more than 150,000 flights for the year, averaging more than 400 a day. VietJet said the funds will go to additional wide-body aircraft, new international routes, expanded maintenance facilities and workforce training. It has already drawn attention at the Paris Air Show by ordering 100 Airbus A321neo jets and 20 long-haul A330neo wide-body aircraft. Its Thailand unit plans to expand routes to 53 next year, and its Kazakhstan unit, long in the red, has turned profitable. VietJet said transaction volume on its in-house payment service, Galaxy Pay, has topped 15 trillion dong (about 840 billion won), and membership has surpassed 2 million. Europe is the centerpiece of the expansion plan. Vice President Jay Lingeswara said at an aviation conference this month that “the market we are watching most is Europe,” and that VietJet will launch one-stop service linking Vietnam to Europe via Kazakhstan. “We have always entered markets others avoid first and grown them — that is our formula,” he said. Chairwoman Nguyen Thi Phuong Thao, VietJet’s founder and widely known as Vietnam’s first female billionaire, told the shareholders meeting that VietJet is “not simply a company that carries passengers,” but one that connects “the economy, dreams and the future.” Independent director Philipp Roessler, described in the report as a former German vice chancellor, said VietJet has been preparing for European expansion for a long time. The airline also flagged risks. It said intensified conflict in the Middle East in March pushed jet fuel prices to around $200 a barrel, a major concern for airlines. VietJet said it slightly lowered its targets for this year and will spend only where necessary. For Korean travelers, VietJet Thailand said last year it would gradually expand medium-haul routes toward South Korea, Japan, China and India. That could add options beyond direct flights to Vietnamese resort destinations such as Da Nang and Phu Quoc, including connections via Bangkok. The report noted, however, that frequent delays remain a challenge for VietJet as it expands.* This article has been translated by AI. 2026-04-28 09:58:15
  • Korea-Vietnam Cultural Exchanges Expand With Festivals in Hanoi and Suwon
    Korea-Vietnam Cultural Exchanges Expand With Festivals in Hanoi and Suwon Cultural and tourism events linking South Korea and Vietnam were held alongside President Lee Jae-myung’s state visit, highlighting exchanges that have broadened beyond government and business cooperation into culture and travel. Vietnamese media outlets including Zing Viet reported that the “2026 Korea Culture and Tourism Festival” ran from the 23rd to the 26th at Lotte Mall West Lake in Hanoi. Co-hosted by the Korea Tourism Organization and the Korean Cultural Center in Vietnam, the event carried the theme “Feel Your Korea” and offered hands-on programs designed to engage all five senses. The Korea Creative Content Agency, the Korea Agro-Fisheries & Food Trade Corp., and organizations supporting small businesses and startups also took part. A “K-wave talk show” on the opening day featured actor Jung Il-woo; travel YouTuber and singer Gwangbin; broadcaster Nguyen Thi Thanh Ha; and K-beauty expert Amy Hoang, who shared experiences related to Korean tourism, food, film and beauty. Tran Bao Trinh, head of Jung’s Vietnam fan club, said, “A wide range of content — webtoons, games, food and films — was impressive, and it seems more visitors came thanks to Jung Il-woo’s participation.” A student who said they attend a journalism and communication academy said they learned about the event through the cultural center’s Facebook page and came in person to join the activities and talk show. Kim also visited the venue that day, joining a bibimbap-making activity and meeting directly with Vietnamese citizens and other visitors. Organizers set up five themed zones: K-content, K-food, K-beauty, K-travel and K-heritage. The K-content zone featured displays tied to the Korean dramas “The Tyrant’s Chef” and “Solo Leveling.” The K-food zone recreated dishes shown in drama scenes and offered free drinks made with Korean strawberries and Vietnamese mango and dragon fruit. The K-beauty zone let visitors try new products and join games and prize events. The K-heritage zone drew attention with a collaboration collection between BTS and MU:DS, the National Museum of Korea’s cultural goods brand. The festival also introduced content such as a “K-wave fan tour” and esports tied to “League of Legends Champions Korea.” In a multimedia space by Arte Museum, modern video technology reimagined Gwanghwamun, hanbok, Hangul and Korean natural scenery. Organizers said they aim to attract about 600,000 Vietnamese tourists to South Korea by 2026. Cultural exchange will continue in South Korea. The eighth “We Are Together” culture and music festival is scheduled for May 9-10 at the No. 1 Outdoor Concert Hall in Suwon, Gyeonggi Province. Inspired by South Korea’s “Family Month,” the event is designed for Vietnamese residents in South Korea, including those studying or working there, and is set to run from 1 p.m. to 9 p.m. on both days. About 300,000 Vietnamese people currently live in South Korea. Launched in 2017 to mark the 25th anniversary of diplomatic ties between South Korea and Vietnam, the annual event has become a symbolic venue for cultural exchange. The program includes a talent competition for overseas Vietnamese, performances for children and families, a large joint music stage featuring artists from both countries, and a prize drawing. With Lee’s state visit serving as a catalyst, organizers and observers expect bilateral ties to deepen further beyond the economic sphere as cultural events gain momentum.* This article has been translated by AI. 2026-04-28 06:11:40
  • Lee Jae-myung’s Vietnam state visit yields 85 MOUs, sets $150B trade goal by 2030
    Lee Jae-myung’s Vietnam state visit yields 85 MOUs, sets $150B trade goal by 2030 President Lee Jae-myung wrapped up his state visit to Vietnam with a series of major agreements through the final day. The two countries signed a total of 85 memorandums of understanding — 12 government-to-government MOUs covering areas such as nuclear power, railways and artificial intelligence, and 73 MOUs between companies — and formally set a goal of raising bilateral trade to $150 billion (about 221 trillion won) by 2030. The outcome was described as a step toward moving the comprehensive strategic partnership into an implementation phase. ◆ $150 billion trade goal formalized; growth since 1992 Vietnamese media outlets including Cheongnyeon Sinmun reported that expanding economic cooperation was the central agenda of the trip. Lee and Prime Minister Le Minh Hung co-chaired an economic roundtable and forum, formally reaffirming their shared commitment to lift trade to $150 billion by 2030. They also agreed to work together to carry out an economic integration vision suited to a changing international environment. Bilateral trade has risen sharply. From several hundred million dollars at the time diplomatic ties were established in 1992, trade expanded to $89.5 billion last year, and reached $26.9 billion in the first quarter of 2026. The $150 billion target is about 1.5 times the 2025 result, the report said. Companies also moved in parallel. Businesses from both countries signed and exchanged 73 MOUs spanning energy, finance, technology, electronics, telecommunications, processing, manufacturing, machinery, construction, infrastructure, trade, tourism and aviation. Government ministries and agencies signed 12 cooperation documents, strengthening the institutional framework, the report said. The summit schedule also included cultural events. On April 24, To Lam and his wife hosted a special friendship program for Lee and first lady Kim Hye-kyung at Hanoi’s Thang Long Imperial Citadel. The two sides agreed that bilateral ties have reached their most advanced stage and reaffirmed that they are moving into a new phase under a long-term strategic direction. The program, themed “Thang Long: A Thousand Years of Vitality, the Depth of Cultural Heritage,” featured performances including xoan singing, listed by UNESCO as intangible cultural heritage, as well as Vietnamese court music, Hue chau van singing and a “six royal flowers” dance. The leaders toured sites including Doan Mon, the main hall of Kinh Thien Palace and an exhibition hall while receiving historical briefings. In talks, Lee said, “The relationship between our two countries is special and close, like brothers,” and said South Korea would be a reliable partner in achieving Vietnam’s goals of becoming an upper-middle-income developing country by 2030 and a high-income advanced country by 2045. Vietnam’s leadership said the visit carried added significance as the first state visit after a leadership reshuffle following the 16th National Assembly election. During the state visit from April 21 to 24, Lee also visited the Ho Chi Minh Mausoleum and attended an official welcoming ceremony and a state banquet. On the final afternoon, Lee and Kim departed Hanoi after completing the schedule. The visit was widely seen as coming at a time when bilateral ties are at their strongest, providing a platform to expand trade and deepen strategic cooperation. The shared $150 billion goal is now moving beyond leader-level agreement into an execution phase through cooperation documents and contracts by governments and companies, the report said.* This article has been translated by AI. 2026-04-28 06:10:17
  • Vietnam Warns of Fake Traffic-Fine Sites Stealing Bank Card Data
    Vietnam Warns of Fake Traffic-Fine Sites Stealing Bank Card Data A new scam in Vietnam is using small traffic fines as bait to steal bank card information, authorities and local media reported. The scheme typically cites a fine of 50,000 dong (about 2,800 won), encouraging victims to enter card details without suspicion. Reports say even residents of major cities have been deceived. VnExpress reported that a Hanoi resident, Ngoc Ha, received a text message on April 25 saying her vehicle had committed a traffic violation and instructing her to immediately visit a specific website to resolve the fine. She said the domain included the word “Dichvucong,” meaning public service, leading her to believe it was an official site. The site, however, was a counterfeit that copied the domain name and interface of the national public services portal. Ha said, “Because the screen looked familiar, I didn’t suspect anything.” The page claimed her vehicle had committed an “obstructing parking” violation and assessed a 50,000-dong fine. It also prompted users to pay immediately by entering a card number, cardholder name, expiration date and CVV code. Ha said she intended to pay because the amount was small, but she did not have her card and could not recall the details. “If not for that, I would have lost all my money,” she said. VnExpress reported that many people received similar messages last week. ◆ Hanoi police: No traffic-violation notices by text or phone; report fake portals Hanoi police issued an official warning, describing the scam as a tactic that sends messages about allegedly unresolved traffic violations and lures recipients to a fake link, allowing criminals to take control of cards and withdraw money from accounts. Police said the link is designed with an interface similar to the national public services portal to gain trust. If a victim enters bank card information, including a card number and an OTP code, criminals can seize control of the card and withdraw funds, police said. Police also stressed that there is currently no method of notifying traffic violations by text message or phone call. Violations are notified in writing, and vehicle owners or related parties are summoned to a police station, they said. Those who want to check violations should use the official traffic police website or the VNeTraffic app. Authorities said scams using fake websites have persisted in Vietnam for years, with tactics evolving. Fraudsters impersonate familiar banks, government agencies, e-commerce platforms and other services to steal accounts and money. Such messages may be distributed through fake base stations or unregistered SIM cards. While mobile carriers have tightened subscriber verification to block unregistered SIM use, scam attempts continue, the report said. Authorities urged the public to use only official websites and to carefully check domains, security certificates and unusual signs in interfaces and language. Passwords, OTP codes and personal information should never be provided to unverified sites. Anyone who suspects fraud should immediately lock their account and report it to authorities. Vietnamese internet users voiced concern and criticism. One commenter wrote that they hoped VNeID would quickly integrate systems under centralized management so problems could be reported through a single channel. The commenter also warned that having separate apps for traffic, taxes and other services increases risk, adding, “If people in cities are being fooled, I’m more worried about rural areas.” Another commenter said the public should recognize that the government does not impose fines or penalties by phone, adding that “if you go in person, your money stays safe.” Others also said scams have become too common during the digitization process.* This article has been translated by AI. 2026-04-27 14:44:48
  • IBK Industrial Bank of Korea Wins Vietnam License as 10th Wholly Foreign-Owned Bank
    IBK Industrial Bank of Korea Wins Vietnam License as 10th Wholly Foreign-Owned Bank President Lee Jae-myung’s state visit to Vietnam produced a major financial milestone: Vietnam’s central bank has issued a license to establish a wholly foreign-owned bank for the first time in nine years, to South Korea’s IBK Industrial Bank of Korea. Vietnam’s VnExpress reported on April 24 (local time) that Nguyen Ngoc Canh, deputy governor of the State Bank of Vietnam, disclosed the decision a day earlier during a meeting with Jang Min-young, IBK’s chairman and CEO. IBK became the third South Korean bank to obtain an operating license in Vietnam, following Shinhan Vietnam Bank and Woori Vietnam Bank. Canh said South Korea currently has the largest number of financial institutions and banks in Vietnam.Financial Services Commission Chairman Lee Eok-won wrote on X on the same day that the president’s visit had “expanded the territory of K-finance,” as he outlined key outcomes reached in Vietnam. The most notable result was IBK’s final approval for its Vietnam unit, which officials said would serve as a key base to support South Korean small and medium-sized companies operating there. In January, Korea Development Bank’s Hanoi branch also won approval after seven years. Lee said South Korea has “overwhelming achievements,” including establishing the most banks and the second-largest number of foreign bank branches in Vietnam. ◆ As of March 2026, Vietnam has nine wholly foreign-owned banks As of the end of March, Vietnam had nine wholly foreign-owned banks in operation, including Shinhan Vietnam Bank and Woori Vietnam Bank. The most recent foreign bank to receive a license before IBK was UOB Vietnam, approved in 2017. IBK’s entry makes it the 10th wholly foreign-owned bank, marking the first new license in nine years. The State Bank of Vietnam views the SME sector as a core growth engine, citing its role in job creation and the social safety net, as well as large funding needs at Vietnam’s current stage of development. Canh said he expects IBK, which has more than 60 years of experience in SME finance, to provide comprehensive financial services not only to South Korean companies in Vietnam but also to local SMEs. Jang said IBK was founded to support SMEs and that about 75% of its outstanding credit is concentrated in that sector. He said the bank’s experience building and operating financing mechanisms for SMEs would be put to practical use in cooperation with Vietnam. Founded in 1961, IBK is 68.5% owned by the South Korean government. It currently operates two branches in Vietnam and is expected to expand its local business following the wholly foreign-owned bank license. During the visit, the Korea-Vietnam Financial Cooperation Forum shared examples of bilateral cooperation in insurance, capital markets, nonperforming loans and QR payments. Lee said he would work to further broaden financial cooperation between the two countries, adding that the Financial Services Commission would be a “running mate” as K-finance expands globally. The two countries also moved to speed up cooperation on payment infrastructure. The Korea Financial Telecommunications & Clearings Institute and Vietnam’s NAPAS signed a contract to link QR payments during the visit. Once the service launches within the year, users will be able to use the same payment apps they use in South Korea in Vietnam without separate currency exchange. Lee said the change would also reduce fees by about 2 percentage points per transaction, calling it a practical benefit for travelers, as Vietnam is the second-most visited destination for South Koreans.* This article has been translated by AI. 2026-04-24 15:57:22
  • Korea, Vietnam deputy prime ministers discuss expanding science and technology cooperation
    Korea, Vietnam deputy prime ministers discuss expanding science and technology cooperation South Korea and Vietnam held deputy prime minister-level talks on the sidelines of President Lee Jae-myung’s state visit to Vietnam, agreeing to develop science and technology cooperation into a new core pillar of bilateral ties. The two sides broadly discussed ways to expand practical cooperation in advanced fields including semiconductors, artificial intelligence and smart cities. According to Vietnam’s government official newspaper, Vietnamese Deputy Prime Minister Ho Quoc Dung met South Korean Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon on the morning of the 22nd (local time) at the government headquarters in Vietnam. Vietnam’s Deputy Minister of Science and Technology Le Xuan Dinh, along with officials from the Foreign Ministry and the Prime Minister’s Office, also attended. ◆ "Science and technology is a new pillar showing early results" Ho said the visit was significant for maintaining and advancing the two countries’ comprehensive strategic partnership across all areas. He said cooperation in science and technology has produced positive early results and is emerging as a new pillar of cooperation. He said he hoped the visit would become “new momentum” to deepen ties in a more substantive and effective direction. Ho said Vietnam is focused on implementing national strategic goals for a new stage of development and wants to further strengthen cooperation with South Korea in a spirit of trust, partnership and shared development. He asked South Korea to continue exchanges of delegations at various levels, including senior officials, and to pursue balanced, sustainable and mutually beneficial cooperation. Ho also urged South Korean companies to increase new investment in Vietnam and expand their operations. He highlighted priority areas including infrastructure development, advanced electronics manufacturing, semiconductors, big data, biotechnology and smart cities. He said ministries and agencies should closely coordinate to run cooperation mechanisms efficiently and turn policy agreements into concrete projects that deliver results. ◆ South Korea: "High regard for Vietnam’s talent; focus on AI and semiconductors" Bae said the two countries held a joint science and technology committee meeting earlier this month and discussed drafting a comprehensive cooperation plan in the field. He said the meeting would provide an important foundation for expanding cooperation in a range of areas. He said many major South Korean companies “highly value Vietnam’s development potential and excellent human resources,” adding that cooperation is also expanding in areas such as agriculture, workforce training and official development assistance projects. Bae pointed to the potential of Vietnam’s young workforce and said he hoped to strengthen cooperation in key areas the South Korean government is prioritizing, including AI and the semiconductor industry. He particularly emphasized expanding the role of the Korea-Vietnam Institute of Science and Technology (VKIST). Calling VKIST a model case of bilateral cooperation, he said he hoped it would continue to develop and become a symbol of cooperation between the two countries. South Korea pledged to actively support and coordinate the efficient implementation of VKIST-related projects. The plan is to develop VKIST beyond a research facility into a hub for cooperation between companies in both countries, while also building it into a platform to jointly develop training programs in areas such as software and AI. Bae said the cooperation has already involved multiple exchanges at the ministerial and department levels, adding he was confident more concrete activities would lead to shared goals and tangible results.* This article has been translated by AI. 2026-04-23 15:54:10
  • South Korea Seeks to Supply Trains for Ho Chi Minh City Metro Line 2, Expand Vietnam Infrastructure Ties
    South Korea Seeks to Supply Trains for Ho Chi Minh City Metro Line 2, Expand Vietnam Infrastructure Ties South Korea and Vietnam have agreed to broaden cooperation across infrastructure, including railways, roads, ports and smart cities, with discussions ranging from supplying trains for Ho Chi Minh City’s Metro Line 2 to technology transfer, joint smart-city development and participation in social housing projects. Vietnamese outlet Vneconomy reported that Tran Hong Minh, Vietnam’s construction minister, met April 21 in Hanoi with Kim Yun-deok, South Korea’s minister of land, infrastructure and transport. Kim said cooperation has become more urgent amid global instability, including supply-chain and energy-security concerns tied to conflict in the Middle East. He also cited momentum from Communist Party General Secretary To Lam’s visit to South Korea in August last year and more recent rail-cooperation talks involving South Korea’s rail bureau chief and Vietnam’s ambassador to South Korea. ◆ Proposal to supply Metro Line 2 trains; technology transfer and training In rail cooperation, the International Contractors Association of Korea presented specific proposals. The group said South Korea introduced high-speed rail in 2004 based on foreign technology and later developed its own capabilities in construction, operations, maintenance and rolling-stock manufacturing, and now exports high-speed trains to multiple countries. As a first step, the association said it hopes to supply trains for Ho Chi Minh City’s Metro Line 2. It said it also wants deeper cooperation, including workforce training and technology transfer, to help Vietnam build a self-reliant rail industry. Citing a rail memorandum of understanding signed by the two countries in 2025, it formally proposed holding the first Korea-Vietnam Rail Cooperation Conference in June. South Korea also expressed interest in expanding cooperation beyond rail to road transport infrastructure, ports and aviation. On financing, it proposed a mix of official development assistance and public-private partnership models, along with policy support and training programs. ◆ Cooperation to widen to smart cities, social housing and urban challenges Beyond transport, South Korea asked Vietnam’s construction ministry to help create conditions for Korean companies to participate more actively in urban development. It listed smart-city construction, investment in housing development, joint work on urban issues such as waste, environment and energy, and support for capacity building and policy improvements. South Korea also formally proposed establishing a Korea-Vietnam Infrastructure and Technology Cooperation Committee as a standing channel to improve information sharing and coordination. It said institutionalizing cooperation would help build a stable, long-term framework beyond one-off projects. Tran said the meeting would both reinforce past cooperation and open new directions. He said South Korea has been Vietnam’s second-largest bilateral donor supporting transport infrastructure development since 1996, adding that nine projects totaling more than $1 billion in loans have been completed and six projects worth about $600 million are underway. The two countries have also worked together in urban development and housing. South Korea’s land ministry said it cooperated in 2023 by providing training support and sharing experience during Vietnam’s research and development process for its Housing Law and revised Real Estate Business Law, efforts that were assessed as improving the investment environment for domestic and foreign companies. The Korea Land and Housing Corp. is pursuing a new-town development project in the southeastern part of Hung Yen province, and three ODA technical assistance projects are already underway in smart-city and social-housing fields. Tran said he would designate relevant agencies under the construction ministry as coordination points with the South Korean side. He also instructed officials to focus on key tasks, including forming the proposed committee, holding the rail cooperation conference in June, pursuing PPP projects in transport and urban development, and establishing a Korea-Vietnam Smart City Cooperation Center. 2026-04-23 14:07:36
  • KOCHAM Honorary Chairman: Korea’s Technology and Vietnam’s Workforce Are Inseparable
    KOCHAM Honorary Chairman: Korea’s Technology and Vietnam’s Workforce Are Inseparable President Lee Jae-myung’s official visit to Vietnam, joined by Samsung and other major South Korean conglomerates, is widening the scope of strategic cooperation between the two countries, Vietnamese media reported. Areas under discussion range from high-speed rail and nuclear power to semiconductors and artificial intelligence, as both sides pursue a 2030 goal of $150 billion in bilateral trade. Vietnam’s Tuoi Tre reported that Hong Sun, honorary chairman of the Korean Chamber of Commerce in Vietnam, said at a meeting with South Korean companies held on the occasion of Lee’s visit that the president shared “a new direction” for bilateral cooperation. Hong said Lee set the $150 billion trade target for 2030 and identified infrastructure, nuclear power, energy, critical minerals, supply chains, AI, climate-change response and advanced technology as key areas for cooperation. ◆ “Technology powerhouse plus workforce and investment environment — an inseparable link” Hong said that amid a “complex and unstable” global economic environment, forming an economic alliance is an inevitable trend that can both open new opportunities and strengthen supply-chain security. He said South Korea has strengths in technology and engineering, while Vietnam has strengths in its workforce and investment environment, calling the combination “an inseparable link.” About 10,000 South Korean companies operate in Vietnam across fields from science and innovation to infrastructure and smart cities, the report said. As of last year, South Korea was Vietnam’s largest foreign investor with cumulative investment of $94.5 billion and remained Vietnam’s third-largest trading partner with bilateral trade of about $89.5 billion. Samsung drew particular attention among the accompanying business delegation. Samsung’s Vietnam operations posted $64.9 billion in revenue last year and $57.1 billion in exports, returning to growth from the previous year, the report said. Its cumulative investment has exceeded $24 billion, and it operates six factories and a research and development center, positioning Vietnam as a global strategic production base. Earlier, Na Ki-hong, a vice president and head of Samsung Electronics’ Vietnam Samsung Strategic Cooperation Office, said Samsung will continue stable investment activities based on trust with the Vietnamese government and authorities in Thai Nguyen province. Beyond manufacturing, Samsung runs a supply-chain linkage program for 379 Vietnamese companies to support productivity improvements and has trained hundreds of local experts, contributing to the local industrial ecosystem, the report said. ◆ Taihan Vina to invest 80 billion won in extra-high-voltage cable production Another company highlighted was Taihan Vina, Taihan Cable & Solution’s manufacturing unit in Vietnam, founded in 2005 and described as a leading cable maker in the country. It produces high-voltage and medium- and low-voltage power cables, as well as overhead lines. The company plans to sign a memorandum of understanding to expand cooperation in Vietnam’s power infrastructure and construction sectors. Choi Seung-ho, head of Taihan Vina, said the agreement covers cooperation on power-cable supply, technical consulting and sharing market information. He said the company is reviewing plans for a second plant in northern Vietnam and is building the country’s first 400-kilovolt extra-high-voltage plant. Choi said major national projects in Vietnam — including expanding transmission networks, shifting to renewable energy, restarting nuclear power, building new cities and constructing high-speed rail — are directly tied to the power-cable industry. He said South Korean companies’ high-voltage direct current transmission technology, engineering, procurement and construction capabilities, and project-financing experience complement Vietnam’s needs. He also called for policy support from both governments to ensure fair competition and to cooperate on training technical personnel in South Korea and Vietnam. 2026-04-23 14:06:40
  • Vietnamese Media Expert Breaks Down How Korea Built Global Soft Power Through Hallyu
    Vietnamese Media Expert Breaks Down How Korea Built Global Soft Power Through Hallyu As President Lee Jae-myung visited Vietnam, a Vietnamese media expert said South Korea’s soft power is creating a virtuous cycle in which global interest leads to sustained consumption of Korean cultural products. The expert said the Korean Wave is not a passing trend but the result of a strategic alignment among the state, companies and cultural workers. Vietnamese online outlet Vietnamnet on 21 (local time) published an opinion piece by media expert Nguyen Dinh Thanh analyzing how Korea built its soft power and why it has succeeded. “There is no magic wand behind Hallyu,” the piece said, calling it the product of a systematic national strategy. ◆ Reaching the top tier across cultural fields Nguyen wrote that South Korea “today is achieving world-class success in every area of the cultural industry.” He cited the K-pop film <K-pop Demon Hunters> being nominated at the 2026 Academy Awards for best animated feature and best original song, and pointed to works including Parasite, Snowpiercer and Squid Game. He said Korea has become a major film power “in just 30 years.” In music, he wrote, BTS and Blackpink — the girl group with the most YouTube subscribers worldwide — have shown global reach. In webtoons, he said, Naver and Kakao dominate the global digital comics market and serve as a major source of film scripts. In esports, he said Faker of T1 — dubbed the “Michael Jordan of gaming” — helped make Korea a hub for competitive gaming. In literature, he noted Han Kang won the 2024 Nobel Prize in Literature, showing Korea can export culture through books as well as film and pop music. ◆ Twelve factors behind Hallyu’s success The piece listed 12 drivers behind those results: artist training; audience development; training for creators and production staff; changes in thinking and systems for arts education; infrastructure investment; financial investment; systematic cultural promotion; training cultural-industry professionals; investment in supporting industries and logistics; optimized intellectual property management; strong copyright protection; and innovation through digital transformation and the use of AI. It highlighted artist-development programs such as the Korean Academy of Film Arts, run by the Korean Film Council (KOFIC), saying talent training is the first and most essential element of Hallyu’s success. Nguyen concluded that professional workforce development, investment by government and business, stronger institutions, and arts and cultural education together laid the groundwork for Korea’s rise as a “cultural powerhouse.” The piece said Korea’s cultural-industry success stems from building a complete, closed value chain, adding that the experience can inspire discussion, cooperation and exchanges to learn from Korea’s specific approach. It said the view of Hallyu as a national strategy — not merely a cultural phenomenon — is spreading in Southeast Asia’s media circles.* This article has been translated by AI. 2026-04-22 17:03:19