Leader calls for enhanced collaboration between Busan, Republic of Korea, and our affiliated localities
Expanding Partnership: Busan and Vietnam Strengthen Ties
The strategic partnership between the city of Busan, South Korea, and Vietnam is experiencing significant growth, with a focus on science, technology, and various key sectors such as logistics, green finance, fintech, tourism, and high-tech industries.
This partnership aims to leverage the complementary strengths of both parties. Busan, as the second-largest economic hub in South Korea and the world's fifth-largest port city, can offer its status as a major port and economic powerhouse. Meanwhile, Vietnam, with its deep-water port advantages and growing industrial base, provides an ideal partner for collaboration.
Key areas of cooperation include:
- Science and Technology: Busan and Vietnamese localities, including Ho Chi Minh City, are set to enhance collaboration in the science-technology sectors. This includes satellite urban development and the application of advanced technologies like artificial intelligence, particularly in healthcare and smart city projects.
- Economic and Industrial Cooperation: The partnership targets priority areas such as logistics and seaport development (capitalizing on Ba Ria–Vung Tau’s deep-water port), high-tech industries including semiconductors, and international finance and trade services. Busan and Ho Chi Minh City are developing concrete cooperative projects with an emphasis on sustainability, quality, and efficiency.
- Cultural and Educational Exchanges: There are ongoing exchanges in education, training, and cinematography to build mutual trust and long-term cooperation. Approximately 14,000 Vietnamese, including over 4,000 students, reside in Busan, and Busan is home to significant Korean investment and communities in Vietnam’s southern region.
- Support from Vietnamese Leadership: Party General Secretary To Lam has called on Busan to expand investment and cooperation with Vietnamese provinces and cities, highlighting strategic opportunities and requesting sharing of development models and smart port operations to benefit Vietnam's coastal economic zones.
- Institutional and Diplomatic Support: Busan supports the Vietnamese Consulate General actively and pledges to protect the rights of Vietnamese citizens, fostering people-to-people links that strengthen bilateral relations.
This partnership reflects a broader Vietnam-Republic of Korea strategic relationship, aiming for sustainable development, innovation, and regional prosperity through these multi-sector ties. Activities like Busan’s Global City Week and joint economic forums provide platforms to deepen cooperation and realize shared goals.
Recently, Party General Secretary To Lam met with Busan Mayor Park Heong-Joon in South Korea, discussing ways to further enhance the partnership. Mayor Park confirmed Busan's critical role in advancing economic ties with Ho Chi Minh City and Vietnam as a whole. To Lam requested support for investment in priority sectors like science and technology, satellite urban development, logistics, and tourism. He also suggested Busan share development models and locate a smart port operation system in a Vietnamese coastal economic zone.
In response, Busan will implement policies that protect the legitimate rights of Vietnamese citizens in the city and is committed to closer collaboration with HCM City and other Vietnamese localities. To Lam described this as a strategic opportunity for Busan and Vietnamese cities and provinces to elevate their cooperation.
- The strategic partnership between Busan and Vietnam is also focusing on investing in the fields of science and technology, aiming to develop advanced technologies such as artificial intelligence, particularly in healthcare and smart city projects.
- The collaboration between Busan and Vietnam extends to the business sector, with a focus on logistics and seaport development, high-tech industries like semiconductors, and international finance and trade services.
- Business and political leaders are taking an interest in this partnership, with Party General Secretary To Lam requesting that Busan share development models and locate a smart port operation system in a Vietnamese coastal economic zone.
- There are ongoing discussions and investments in the general-news space, as Busan and Vietnam explore opportunities for cultural and educational exchanges, with an emphasis on building mutual trust and long-term cooperation.
