What’s New
Speaker Woo Won-shik meets with Vietnamese Prime Minister
- Aug 07, 2024
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Speaker Woo Won-shik meets with Vietnamese Prime Minister
- Speaker Woo requests assistance to resolve issues faced by Korean firms relating to Vietnam’s plan to implement
a global minimum corporate tax and amend the VAT law
- Asks for resolution of delays in issuing work permits and residence visas for Korean workers living in Vietnam
- Prime Minister Chinh responds positively to Speaker Woo’s request for expedited approval of expansion of the
Korean International School in Ho Chi Minh City
- Speaker Woo underlines the need for international support and cooperation for peace on the Korean Peninsula
Speaker of the Republic of Korea’s National Assembly Woo Won-shik on July 2 met with Prime Minister of Vietnam Pham Minh Chinh to discuss ways to expand bilateral cooperation in fields such as trade and investment, taxation, economic security and supply chain collaboration, work conditions for foreign workers, and climate change. Vietnam maintains a collective leadership system centered on the General Secretary of the Communist Party of Vietnam (CPV), the top ranking official, and Prime Minister Chinh, who is ranked third, is responsible for national economic policies.
Speaker Woo began by stating, “This is the first official visit by a high-ranking Vietnamese official since our bilateral relationship was elevated to a ‘comprehensive strategic partnership’ in December 2022,” and congratulated the Prime Minister on successfully hosting the Korea-Vietnam Business Forum on July 1.
Prime Minister Chinh assessed that the two nations have been able to forge a strong foundation and create new opportunities by utilizing their potential and strengths to build a robust and pragmatic relationship. He noted the rapid increase in parliamentary cooperation, through which the two countries can share their legislative experiences and regulatory innovations in pursuit of across-the-board sustainable development in areas including the economy and energy.
Speaker Woo then requested the continued interest and support of the Prime Minister to resolve issues concerning investments by Korean companies, urging him to pay closer attention to their top concerns such as Vietnam’s plan to implement a global minimum corporate tax and amend the VAT law. He also expressed hopes for greater cooperation on supply chains by establishing the ‘Korea-Vietnam core minerals supply chain center’ in view of the importance of their cooperative economic security.
In response, Prime Minister Chinh said that Vietnam has prepared regulations to support foreign investors in line with implementation of the global minimum tax and is considering special measures for Korea in relation to amendment of the VAT law.
Speaker Woo underscored that “The Vietnamese people, who constitute the largest group of foreign workers under Korea’s employment permit system, are diligent workers who significantly contribute to the development of bilateral relations.” He pledged the National Assembly’s best efforts to improve working conditions for foreign workers while requesting the “resolution of chronic issues faced by Korean workers residing in Vietnam, such as delays in issuing work permits and resident visas.”
Prime Minister Chinh responded that Vietnam would establish reasonable and favorable policies for work permits and long-term residence visas for Koreans consistent with the Comprehensive Strategic Partnership.
Speaker Woo also asked for Prime Minister Chinh’s close attention to expediting approval for expanding the Korean International School in Ho Chi Minh City, to which Prime Minister Chinh responded positively, stating he would actively review it.
Speaker Woo commended Vietnam on its proactive contributions to international efforts to respond to climate change, making note of Prime Minister Chinh's declaration of a ‘carbon neutrality by 2050’ goal at the 2021 UN Climate Change Conference (COP26). He assured the Prime Minister of Korea’s continued support for Vietnam’s successful hosting of the 2025 P4G Summit, following South Korea’s hosting of the Summit in 2021.
Prime Minister Chinh reiterated Vietnam's steadfast support for the denuclearization of the Korean Peninsula and efforts to uphold and implement UN Security Council resolutions. Speaker Woo expressed his admiration for Prime Minister Chinh’s statement that ‘all disputes should be resolved peacefully,’ while highlighting the “need for international support and cooperation for peace on the Korean Peninsula.”
In addition, Prime Minister Chinh requested the following: △ delegation exchanges at various levels to strengthen parliamentary relations; △ an enhanced system to determine cooperation tasks between the two countries; △ expanded defense and security cooperation; △ better access to the Korean market for Vietnamese agricultural and seafood products and a cooperative global supply chain in renewable energy and semiconductors; △ expanded infrastructure cooperation in transportation, energy, and digital sectors, and on climate change; △ cooperation in technology transfer and climate change response; △ simplified visa issuance procedures; and △ mutual support on regional and global issues of common interest.
The meeting attendees included Bui Thanh Son, Minister of Foreign Affairs; Tran Van Son, Minister-Chairman of Government Office; Nguyen Hong Dien, Minister of Industry and Trade; Ho Duc Phoc, Minister of Finance; Huynh Thanh Dat, Minister of Science and Technology; Dang Quoc Khanh, Minister of Natural Resources and Environment; Dao Ngoc Dung, Minister of Labor, Invalids and Social Affairs; Le Minh Hoan, Minister of Agriculture and Rural Development; Ho Quoc Dung, Party Secretary of Binh Dinh Province; Nguyen Minh Vu, Deputy Minister of Foreign Affairs; Vu Ho, Vietnamese Ambassador to Korea; and Le Thu Ha, Vice Chairwoman of the National Assembly's Foreign Affairs Committee.
The Korean delegation included National Assembly members Kim Tae-nyeon, Park Jeung, Yoo Sang-bum, Choi Ki-sang, and Kang Min-kuk; National Assembly Secretary General Kim Min-ki; Chief of Staff to the Speaker Jo O-seop; Senior Secretary for Public Relations to the Speaker Park Tae-seo; Korean Ambassador to Vietnam Choi Young-sam; Ambassadorial Advisor to the Speaker for Foreign Affairs Jeong Woon-jin; and Director General of the International Affairs and Protocol Bureau Hwang Seung-gi.
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