Ambassador Vu Ho: Great opportunities to expand innovation networks within APEC

Vietnamese Ambassador to South Korea Vu Ho.

Over the past time, the Vietnam-South Korea relationship has maintained a positive development momentum and has achieved remarkable results. How do you evaluate the current cooperation and the new driving forces opening up for bilateral relations, especially in the context of APEC 2025 under the theme "Building a Sustainable Tomorrow: Connect - Innovate - Prosper"?

The bilateral relationship is now in the best stage of development since the two sides established diplomatic ties in 1992. After more than three decades of dynamic development, the two countries have become Comprehensive Strategic Partnership, demonstrating high political trust, in-depth economic cooperation and extensive people-to-people exchanges.

South Korea (SK) is currently Vietnam's largest FDI investor, third largest trading partner and largest bilateral ODA donor. By the end of 2024, SK's total investment capital in Vietnam has reached over 85 billion USD; two-way trade turnover has exceeded 80 billion USD, aimed for 100 billion USD in bilateral trade in the next few years. In addition, cooperation in various new fields such as digital transformation, innovation, renewable energy, smart cities, cultural industry and green tourism is opening up new development drivers.

Regarding people-to-people exchanges, the community of more than 350,000 Vietnamese people in SK and about 250,000 Koreans in Vietnam are building a strong bridge of friendship. Cultural exchange programs, local linkages and educational exchanges have laid the foundation of the bond between the two peoples.

The bilateral relationship today is not only appropriate but also contributes to realizing the spirit of APEC 2025: "Building a Sustainable Tomorrow: Connect - Innovate - Prosper". Both sides share the development aspirations based on innovation, sustainable development, and inclusive cooperation. This will serve as an important foundation for the two sides to coordinate more closely in preparation for Vietnam hosting APEC in the near future. It can be said that APEC is one of the cradles that help the relationship between Vietnam and SK become more sustainable, innovative, and flexible.

Placing Vietnam into the thematic story of APEC 2025, according to Ambassador, what opportunities can we seek and how can we take advantage of those opportunities from this important regional event?

In a turbulent world, APEC 2025's choice of the theme “Connect - Innovate - Prosper” reflects a common direction of enhancing cooperation, sustainable recovery, and innovative development.

For Vietnam, this is an important opportunity to strengthen the country’s position, expand development space, and leverage resources for strategic goals. In my opinion, Vietnam has three major opportunities to harness from APEC 2025:

First, to enhance regional economic integration and participate more deeply in global value chains. APEC is an ideal platform to promote trade linkages, connect infrastructure, and attract strategic investment projects, especially in sectors such as electronics, semiconductors, renewable energy, logistics, and digital economy.

Second, to attract cooperation in innovation and green transformation. Through cooperation with technologically advanced APEC economies – with SK being an important partner – Vietnam can adopt advanced technology, train high-quality human resources, and build a foundation for green growth.

Third, to enhance Vietnam's image and role on the international stage. APEC 2025 is an opportunity for Vietnam to affirm its role as an active, creative, and responsible member, while also creating a solid stepping stone toward hosting APEC in the future. Vietnam will thoroughly prepare in terms of content, organization, and initiatives to ensure that APEC truly becomes a new milestone for Vietnam in regional cooperation.

Vietnam will take advantage of this opportunity by proactively proposing new initiatives, strengthening the innovation network within APEC, promoting business exchanges, and expanding cooperation between localities, where “laboratories” for green growth models and smart cities are emerging.

Vietnam-South Korea Business Forum in July 2024, Seoul.

APEC 2025 emphasizes the trend of innovation cooperation, green transformation, and sustainable development. Ambassador, could you please assess the potential cooperation between Vietnam and APEC economies, in this trend, particularly in terms of cooperation between localities and businesses?

Vietnam's potential for cooperation with APEC economies, especially with SK, is very great. Vietnam is undergoing a strong transformation in its growth model from “broad-based to sustainable”, with three pillars: innovation, green transition, and digital transformation. These are also areas in which SK has strengths and is very willing to cooperate.

In recent years, many Korean companies have expanded their investment in Vietnam not only in manufacturing but also in research and development (R&D), renewable energy, batteries, green hydrogen, and digital technology. Vietnam welcomes this trend and hopes to expand cooperation in a two-way direction – creating together, developing together.

Regarding locality-to-locality cooperation, the two countries currently have over 70 twin and collaborative relationships at the local level, including Hanoi – Seoul, Ho Chi Minh City – Busan, Da Nang – Gyeongju, Hai Phong – Ulsan, Quang Ninh – Jeonnam… Localities have become direct hubs connecting businesses, universities, and startup centers, and are at the forefront of practical cooperation.

In the coming time, Vietnam wishes to promote three key cooperation directions, including:

First, to establish the “Vietnam-SK-APEC Innovation Cooperation Corridor”, connecting research centers, high-tech zones, and start-up incubators between the two countries.

Second, to develop links for small and medium-sized enterprises within APEC, especially in the fields of clean energy, green logistics, and cross-border e-commerce.

Third, to promote smart city and digital economy cooperation at the local level, supporting Vietnamese provinces and cities in learning from the green – clean – modern development models of SK localities.

These collaborations not only help enhance the competitiveness of Vietnamese businesses and localities but also serve as practical preparation for Vietnam's future role as a host of APEC, when we can present and share effective cooperation models "right on our home turf."

What role can Vietnam play in promoting APEC 2025 initiatives, while also deepening its relations with APEC partners in the new phase?

Vietnam is an active, dynamic, and responsible member of APEC, having proposed many practical initiatives on inclusive development, regional connectivity, and support for small and medium-sized enterprises. These successes provide Vietnam with valuable experience to contribute more deeply to APEC 2025 and to prepare well for APEC 2027.

In the upcoming time, Vietnam can contribute in three main directions:

Firstly, to propose initiatives for cooperation on green transition, clean energy, and a circular economy. Vietnam is actively implementing its Green Growth Strategy, committing to achieving net-zero emissions by 2050. We can share experiences while mobilizing technology, financial, and knowledge resources from APEC economies, with SK being a key partner.

Secondly, to contribute initiatives on innovation, digital transformation, and inclusive development. Vietnam and SK can jointly propose the initiative of an "APEC Innovative Enterprise Network," connecting start-ups, research institutes, and technology centers, creating opportunities for young enterprises in the region to develop together.

Thirdly, to promote the role of a bridge between Northeast Asia and Southeast Asia. With an important geopolitical and strategic position as well as good relations with regional partners, Vietnam can play an intermediary role in promoting cooperation, contributing to the maintenance of peace, stability, and prosperity in the Asia-Pacific region.

In particular, Vietnam hosting APEC 2027 is not only an honor but also a great responsibility. It will be an opportunity for Vietnam to demonstrate a leading role, contribute practical initiatives on “Green Growth - Innovation - Inclusive Cooperation”, and simultaneously strengthen comprehensive strategic relations with SK and other partners in APEC. Vietnam wishes to work closely with SK from now on to jointly prepare for APEC 2027 - a year expected to mark a new milestone in regional and bilateral cooperation.

I believe that with a solid foundation and a shared vision for the future, Vietnam-SK relations will continue to develop strongly, contribute positively to the success of APEC 2025, and at the same time create an important springboard for APEC 2027 in Vietnam to become a lasting mark of regional cooperation on “Connect - Innovate - Prosper for a sustainable future”.

Sincere thanks, Ambassador!

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