S Korea-Vietnam-biz forum

Biz leaders of S. Korea, Vietnam discuss cooperation in green energy transition

SEOUL, Dec. 6 (Yonhap) -- Business leaders of South Korea and Vietnam on Tuesday discussed efforts to deepen bilateral economic cooperation in new areas such as a transition to green energy, in a step toward carbon neutrality and sustainable growth.

The business forum, hosted by the Korea Chamber of Commerce and Industry, took place a day after the summit between President Yoon Suk-yeol and Vietnamese President Nguyen Xuan Phuc, during which they agreed to elevate the relations to a "comprehensive, strategic partnership."

Phuc is on a three-day state visit from Sunday marking the 30th anniversary of diplomatic relations this year. He was also present at the forum.

Participants noted that how to achieve carbon emission reduction goals remains a challenge for manufacturing-oriented Vietnam, and South Korea can be a key partner in facilitating Hanoi's energy transition in the long term with its strengths in sustainable energy.

"Korea's energy industry has experience in infrastructure investment and construction, financial investment capacity based on pension funds, and solutions for various energy sources, such as LNG, solar power, hydrogen and ESS (energy storage system)," Hanwha Energy CEO Jung In-sub, one of the speakers for the session, said.

"We highly anticipate Vietnam cooperating with us for its sustainable economic growth," Jung said.

Joo Si-bo, CEO of POSCO International and chair of the Korea-Vietnam economic cooperation committee, called for the two countries to make close joint efforts to address various global issues, such as the intensifying economic nationalism and competition over supply chains.

About 300 people attended the event, including Finance Minister Choo Kyung-ho, Vietnam's Deputy Prime Minister Pham Binh Minh and Industry Minister Nguyen Hong Dien.

The two sides also signed more than a dozen memorandums of understanding on aviation, smart city, retail, agriculture and digital technologies.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]