Ambassador Vu Ho reports to Prime Minister Pham Minh Chinh at a meeting with officials, staff of the Embassy, ​​and members of the Vietnamese community in Korea during his official visit to Korea, June 30, 2024. (Photo: Nguyen Hong)

Sharing with the AJU Economic Times reporter, Ambassador Vu Ho said that 2024 - the first year of his term as Ambassador Extraordinary and Plenipotentiary of Vietnam to Korea - was an "extremely busy year with many events happening, both good and bad, happy and sad. However, sitting here today, it can be said that we have successfully overcome a year full of fluctuations".

A very successful year

Talking about the Comprehensive Strategic Partnership between Vietnam and Korea , Mr. Vu Ho commented that in terms of the relationship between the two countries, 2024 is a very successful year, in all areas of cooperation, from politics, economy, culture to people-to-people exchange... Mutual support between the two countries is getting stronger and stronger, and the Vietnam-Korea relationship is increasingly consolidated.

The Vietnamese Ambassador to Korea reviewed some of the most impressive highlights in the colorful picture of bilateral relations. According to Ambassador Vu Ho, the first is that the exchange of visits between the two countries has grown surprisingly with about 120 visits at all levels. Notably, the State visit of Prime Minister Pham Minh Chinh from June 30 to July 3, 2024. The second is that the number of citizens in the Vietnamese community in Korea has also grown steadily, currently exceeding 300,000 people. The third is that the total bilateral trade turnover between Vietnam and Korea in 2024 reached nearly 90 billion USD and the Northeast Asian country is always in the top of countries and territories investing in Vietnam.

Ambassador Vu Ho gives an interview to Korean media on the eve of the New Year. (Source: AJU)

Ambassador Vu Ho stated that the relationship between Vietnam and Korea has developed strongly over the past three decades, having overcome the initial stage of building mutual trust. Currently, the bilateral relationship is in the stage of forming a closer, deeper relationship to achieve a more balanced and harmonious exchange, in line with the Comprehensive Strategic Partnership. Mr. Vu Ho said that “the Comprehensive Strategic Partnership is not just a mere title, but needs to be demonstrated in all aspects of the relationship, in which discussions and information exchanges between the two sides must take place more strongly in all areas, including trade, policy, culture…”

New approach needed

Regarding people-to-people exchanges and tourism between the two countries, although these areas have been very active in 2024, Ambassador Vu Ho believes that there are still many ways to further promote these impressive areas of cooperation. According to Ambassador Vu Ho, in 2024, the number of Korean tourists to Vietnam will always be among the largest group of foreign visitors while the number of Vietnamese tourists to the land of kimchi is also increasing. However, to further promote cooperation in this area, the first thing to do is to improve the visa system and the second is to cooperate between the two governments to have appropriate visa and document systems.

The head of the Vietnamese representative office in Korea said that many Vietnamese people come to the land of kimchi not for the purpose of tourism or relaxation. They come to Korea to work, to realize their dream of improving their lives and having a higher income. On the other hand, many Koreans also come to Vietnam for work, tourism or relaxation is a story for later. Their desire to have a better job, improve their living conditions or want to earn money to support their families are things that we should remember... "The two governments should not only cooperate in cracking down on illegal workers but also need to have a more open approach to this issue...".

Ambassador Vu Ho said: “After all, these people are also citizens of a friendly country. They come here to work and do not intend to harm Korean society. They come here legally with valid papers, valid passports, valid visas and then the visas expire but in fact they still contribute to the development of the Korean economy." Besides, Ambassador Vu Ho also frankly said that it is necessary to improve the skills of workers. Many Vietnamese workers have limited skills and they do not know what is waiting for them in Korea. They come here, a completely strange society, although there has been a lot of help but it is still not enough to help them integrate into society perfectly."

Wide open business opportunities

Regarding potential areas where Korean companies can continue to develop their business or invest in Vietnam, in addition to the areas where they have had very successful cooperation such as semiconductors, electronics and electronic components, Ambassador Vu Ho said that the Vietnamese market still has many potential areas for Korean businesses to explore, such as the retail sector.

According to the Ambassador, there are currently only two or three Korean companies operating in the retail service sector in Vietnam and they are still expanding. The Vietnamese market still has a lot of room for Korean companies to invest. Besides, Korean enterprises are very good at digital transformation. Korean retail services have also shifted to digital platforms and in Vietnam, online retail services are also an extremely competitive market. Therefore, the Ambassador believes that the opportunities in Vietnam are huge for all companies, not only for corporations, large companies but also small and medium enterprises can find very good opportunities in Vietnam - Ambassador Vu Ho affirmed.

Prime Minister Pham Minh Chinh and Prime Minister Han Duck Soo witnessed the exchange of a Memorandum of Understanding on orientations for building an Action Plan to realize the target of bilateral trade turnover of 150 billion USD in a more balanced direction between the Vietnamese Ministry of Industry and Trade and the Korean Ministry of Trade, Industry and Energy during their visit to Korea in July 2024. (Photo: Nguyen Hong)

Dialogue is key

Commenting on many concerns that US President Donald Trump’s return to the White House with his policy statements could create potential instability in global trade and international relations, including Vietnam, Ambassador Vu Ho said that whether it is President Trump or any other president, it will be the same. Whoever takes power and holds the seat in the White House will put America first. Just like us, we will always put national interests first.

The only problem is how to bring these interests together without any conflict or dispute. The answer to this problem is dialogue. We must constantly dialogue, consult, and exchange ideas. We will not be able to understand each other and find common ground without communication.

So first, let's communicate and then when the dialogues are conducted, the parties will find common interests. Interests here are not just about money but also about many more meaningful things. The values ​​and interests of Americans may be different from the interests that Asians aim for. Therefore, we need to have active dialogue to ensure that both can accept each other's values ​​and interests and clarify the points of disagreement, Ambassador Vu Ho emphasized.