On April 23, 2026, in Hanoi, the Ministry of Finance of Vietnam coordinated with the Ministry of Trade, Industry and Energy of Korea to organize the Vietnam – Korea Economic Forum, attracting more than 500 senior delegates along with the business communities of the two countries. Attending the Forum, Agribank had the opportunity to strengthen connectivity and expand cooperation in the context of digital transformation and deep integration.

Enhancing partnerships in industry, investment, and science and technology

The Vietnam - Korea Economic Forum 2026 was held under the chairmanship of Prime Minister Le Minh Hung and President of the Republic of Korea Lee Jae Myung, with the theme “Enhancing partnerships in industry, investment, and science and technology.” The Forum serves as a high-level platform to connect policymakers with businesses, laying the ground work for substantive and in-depth cooperation steps in the new development phase.

Speaking at the Forum, Minister of Finance Ngo Van Tuan emphasized that after more than 30 years since the establishment of diplomatic relations, and particularly following the upgrade to a Comprehensive Strategic Partnership, Vietnam–Korea relations have developed robustly across multiple sectors. The Republic of Korea is currently the largest foreign investor in Vietnam and one of its leading trading partners, contributing significantly to enhancing Vietnam’s technological capabilities, production capacity, and position in the global value chain.

Speaking at the Forum, Mr. Chey Tae Won, Chairman of the Korea Chamber of Commerce and Industry, noted that over the past 30 years, Vietnam–Korea cooperation has continuously expanded across various sectors, ranging from economic and educational cooperation to collaboration at different levels of government. The strong mutual trust between the two governments, together with Vietnam’s steadily improving investment environment, has enabled the Korean business community to expand its operations effectively.

Looking ahead, both sides should prioritize high-tech sectors such as artificial intelligence and energy transition—areas that not only support sustainable development goals but also create new business opportunities.

Agribank General Director Pham Toan Vuong (second from left) along with businesses receiving signed cooperation documents between businesses and organizations of the two countries.

Currently, Korea is the leading nation in foreign direct investment in Vietnam with total registered capital reaching over 98 billion USD, accounting for 18% of the total investment capital of valid FDI projects.

The Republic of Korea is one of Vietnam’s largest trading partners; it is the third-largest export market and the second-largest source of imports among more than 220 trading partners of Vietnam. In 2025 alone, Vietnam exported USD 28.9 billion worth of goods to Korea and imported USD 60.5 billion from Korea. Total bilateral trade is targeted to reach USD 150 billion by 2030, in a more balanced manner.
 
Agribank actualizes connectivity through specific cooperation

In this context of growing cooperation, Agribank has proactively translated partnership opportunities into concrete actions. Ahead of the Forum, on April 22, 2026, Agribank and NongHyup Bank signed a Memorandum of Understanding, establishing a strategic cooperation framework between the two leading financial institutions in the agricultural and rural sectors of their respective countries.

Agribank and NongHyup Bank signing the Memorandum of Understanding on April 22, 2026.

The agreement is not only a milestone in bilateral cooperation but also a clear testament to the increasingly substantive and effective connectivity between Vietnamese and Korean businesses. Accordingly, the two banks will focus on five strategic pillars of cooperation. The first is the development of digital finance and digital banking through the sharing of technology and expertise, thereby bringing modern financial services closer to agricultural and rural areas.
Second, promoting cooperation in sustainable agricultural development, strengthening green finance, high-tech agricultural credit, and building agricultural product value chains—fields considered common strengths of both sides.

Third, strengthening cooperation in corporate banking, with priority given to coordinated support for Korean enterprises in Vietnam and Vietnamese enterprises in Korea, along with the potential for implementing large-scale co-financing projects.

Fourth, cooperation in human resource development and expanding investment opportunities, especially in the process of equitization, is also emphasized by both sides to ensure long-term and sustainable development.

Fifth, expanding investment cooperation; Agribank is ready to exchange information with NongHyup to research suitable cooperation opportunities during the equitization process, based on compliance with legal regulations and the development orientations of both parties.

This demonstrates that Agribank’s proactive engagement in and effective realization of international cooperation opportunities continues to reinforce its position in agricultural finance, while also helping to expand development opportunities for Vietnamese enterprises in the digital era and the context of global integration.

Nguyễn Thị Thanh Hương - ĐCTC