Seeing great potential for cooperation in developing the abundant rare earth elements in Vietnam, the two sides also agreed to establish a center that exclusively handles the supply chain of important minerals.
In addition, the two sides looked at further areas of cooperation in liquefied natural gas development, hydrogen energy production, smart cities and climate change response.
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The conference also led to an agreement to promote further exchanges of people between the two countries by increasing support for Korean language education in Vietnam and expanding scholarships for Vietnamese students in South Korea.
Yoon said South Korea will continue to expand development assistance to Vietnam by raising the limit of assistance provided through the Economic Development Cooperation Fund from 1.5 billion dollars in 2016-2023 to 2 billion dollars in 2024-2030.
Under the new agreement, South Korea will provide an additional 2 billion dollars through the Economic Development Promotion Facility by 2030.
“Vietnam is a key cooperation country in implementing our Indo-Pacific Strategy and the Korea-ASEAN Solidarity Initiative for freedom, peace and prosperity,” Yoon said.
“We will communicate and cooperate more closely with Vietnam, which is a key partner for the development of South Korea-ASEAN relations and South Korea-Mecong cooperation.” he concluded.
