TURKISH CENTER for ASIA PACIFIC STUDIES
SEOUL, April 16 (Yonhap) -- South Korea voiced hopes Wednesday for close communication with Vietnam on the potential impact from the recent U.S. reciprocal tariffs, as they committed to continue efforts to advance cooperation in the economy and other areas, Seoul's foreign ministry said.
Seoul's Foreign Minister Cho Tae-yul met with Vietnamese President Luong Cuong and Vietnamese Prime Minister Pham Minh Chinh each earlier in the day, to share the understanding with them, according to the ministry.
The move came as the two countries are seeking to minimize the impact from the sharp hike in the U.S. levies imposed by President Donald Trump's administration.
The Trump administration has said it will impose 25 percent and 46 percent reciprocal tariffs on South Korea and Vietnam, respectively, beginning July 9, once the 90-day suspension ends.
South Korean companies are heavily invested in Vietnam, with tech giant Samsung Electronics producing nearly half of its smartphones there.
During their talks, they also reaffirmed their strong commitment to advancing the two countries' strategic partnership and enhancing cooperation in various areas, including diplomacy, security, trade and investment, energy, and infrastructure.
In particular, the two countries agreed to resume their working-level talks on nuclear power cooperation that have been suspended since 2017. The plan comes after Vietnam recently decided to restart its nuclear power plant business.
Vietnam is South Korea's third-largest trading partner, with their bilateral trade reaching US$86.8 billion in 2024.
Cho asked for Vietnam's support in addressing various challenges faced by South Korean businesses operating in the country, such as residency permits and regulatory approval. Vietnam is home to around 10,000 South Korean companies.
Cho also requested Vietnam's assistance in ensuring the safety of Korean nationals traveling and residing in the country.
During his trip, Cho also met with the Korean community and businesspeople to listen to their concerns and discuss other issues.
Cho is visiting the Southeast Asian nation to attend the fourth summit of the Partnering for Green Growth and the Global Goals (P4G) on climate change solutions.
By Park Sang-soo
Source: Yonhap News Agency
S. Korea voices hope for close communication with Vietnam on U.S. tariffs
April 16, 2025