South Korea leads foreign investment in Vietnam with almost US$103 billion
Bilateral trade exceeded US$80 billion in the first eight months of 2026, as officials discussed investment and technology cooperation in Dong Nai.
South Korea ranks first among Vietnam’s foreign investors, accounting for nearly 10,600 projects with registered capital of almost US$103 billion, Deputy Minister of Foreign Affairs Ngo Le Van said at the Meet Korea conference in Dong Nai on October 15.
Van said South Korea was also Vietnam’s third-largest trading partner. Trade between the countries surpassed US$80 billion during January-August 2026, a record for that period. The countries aim to take annual trade above US$100 billion in 2026 and to US$150 billion by 2030.
Vietnam is reshaping its growth model around technology, science, innovation and workforce quality, with double-digit growth as its objective, Van said. Investment priorities include semiconductors, artificial intelligence, clean energy and smart infrastructure, areas where he said South Korean expertise offered scope for cooperation.
Dong Nai has attracted about 2,300 investment projects from 51 countries and territories, worth more than US$47 billion, according to municipal Party Committee Vice Secretary Vo Tan Duc. South Korea leads foreign investment in the city, with nearly 470 active projects representing almost US$8.4 billion in registered capital.
South Korean Ambassador Lee Miyun expressed hope that Korean businesses would expand into advanced materials and components, smart cities and logistics, critical minerals and the defence industry. She also urged Vietnam’s government and local authorities to maintain predictable, stable investment policies and apply them consistently.
The conference was jointly hosted by Vietnam’s Ministry of Foreign Affairs and the Korean Embassy. Discussions covered sustainable investment, digital-era workforce training and technology cooperation. Vietnamese agencies signed cooperation memoranda with Korean partners.
