President Nguyen Xuan Phuc (L) and his RoK counterpart Yoon Suk-yeol at a press conference in Seoul to announce the upgrade of Vietnam-RoK ties to a comprehensive strategic partnership, December 5, 2022.

The upgrade was announced by visiting President Nguyen Xuan Phuc and his RoK counterpart Yoon Suk-yeol at a press conference in Seoul following their talks on Monday.

“On behalf of the two countries’ leaders, President Yoon and I decided to upgrade Vietnam-RoK ties to a comprehensive strategic partnership. I believe that with the determination of leaders and people of the two countries, the comprehensive strategic partnership will take bilateral ties to a new height.”

President Phuc suggested measures to implement the comprehensive strategic partnership including maintaining regular high-level contacts and exchanges of high-level delegations.

The two leaders reiterated the goal of bringing two-way trade to 100 billion USD by 2023 and 150 billion USD by 2030 in a balanced manner.

The two sides agreed to continue ensuring safe and favorable conditions for Vietnamese people in the RoK and RoK people in Vietnam.

President Yoon said the RoK wants to cooperate with Vietnam in advanced technology through stabilizing supply chains. Both sides acknowledged the great potential for cooperation in exploiting rare earth in Vietnam.

President Nguyen Xuan Phuc and President Yoon Suk-yeol hold talks in Seoul, December 5, 2022.

During earlier talks, President Phuc and President Yoon agreed to facilitate all-level visits in diverse and flexible forms, step up cooperation in diplomacy, national defence and security, carry out existing cooperation and dialogue mechanisms, strive for specific results in national defence industry cooperation, and promote coordination in the fight against crimes, especially trans-national crimes, terrorism and non-traditional security challenges.

President Phuc reaffirmed Vietnam’s consistent support for denuclearization, dialogue and cooperation on the Korean Peninsula, adding that Vietnam is willing to coordinate and contribute to this process.
The two leaders agreed on the need to ensure security, safety and freedom of navigation and aviation in the South China Sea (called the East Sea in Vietnam), maintain a peaceful and stable environment and a legal order, resolve maritime disputes by peaceful measures, and secure legitimate rights and interests of countries in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
President Phuc is on a 3-day state visit to the RoK, which will conclude on Tuesday.