On August 12, Deputy Prime Minister and Minister of Economy and Finance Koo Yun Cheol held a meeting with Minister of Finance of Vietnam Nguyen Van Thang, who visited Korea on the occasion of the summit, at the Government Complex-Seoul.

DPM Koo expressed his gratitude to Minister Thang for taking the time to meet during his visit and introduced the government’s initiative to transform the Korean economy into an ultra-innovative economy by fostering AI innovation.

Minister Thang congratulated DPM Koo on his appointment and highlighted Vietnam’s recent strong economic growth as well as restructuring^* of its government organizations related to economic cooperation. He also expressed his hope to further develop close cooperative relations with Korea, a leading country in advanced technology, and requested the Korean government’s continued interest and support.

^* Vietnam merged its Ministry of Finance (responsible for taxation, etc.) and Ministry of Planning and Investment (the main investment authority) into a single Ministry of Finance in February 2025.

In response, DPM Koo stated that despite the rapidly changing global cooperation environment, it is necessary for both countries to maintain strong collaboration^* in various areas such as trade and investment. He also pledged to actively support economic cooperation between the two countries by utilizing initiatives such as the Knowledge Sharing Program (KSP) and the Economic Development Cooperation Fund (EDCF).

   ^* To deepen the comprehensive strategic partnership, both countries have agreed to achieve a trade volume target of $150 billion by 2030 (Joint Statement, August 11).

The Ministry of Economy and Finance plans to discuss ways to advance economic cooperation with Vietnam through high-level meetings such as the APEC Finance Ministers’ Meeting and Structural Reform Ministerial Meeting to be held in Incheon in October, and the Korea-Vietnam Deputy Prime Ministers’ Dialogue on Economic Cooperation.

Please refer to the attached files.