-- Vietnamese President To Lam and South Korean President Lee Jae Myung have called for increased collaboration between the countries in summit talks in Hanoi on Wednesday, The Chosun Daily reported Thursday.
The two countries entered 12 MoUs to boost cooperation in various niches, including nuclear power, electricity, and infrastructure. The aim is to boost the value of bilateral trade to $150 billion by 2030 from $94.6 billion in 2025, according to the report.
The parties have initially agreed to financial cooperation for Vietnam's nuclear power plant construction project, the report stated.
An agreement for the export of railway vehicles from South Korea for Ho Chi Minh City's urban railway is expected to be signed Thursday. Hyundai Rotem is also looking to enter a 5.1 trillion Korean won contract with Tac Group in Vietnam for the export of unmanned electric trains.
South Korean companies may become part of a 1.1 trillion Korean won Southeast New City project and 100 billion Korean won-scale Jabin New Airport construction, according to The Chosun Daily.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)