Korea’s Ministry of Trade, Industry and Energy (MOTIE) and Vietnam’s Ministry of Industry and Trade (MOIT) have signed a Memorandum of Understanding (MOU) to enhance cooperation in renewable energy, following a bilateral summit between President Lee Jae Myung and General Secretary of the Communist Party of Vietnam To Lam. The agreements were signed during the Vietnamese leader’s official visit to Korea.
The renewable energy MOU aims to accelerate the sustainable energy transition by fostering public-private collaborative projects in solar power, wind power, and energy storage systems, while supporting investors in overcoming business challenges.
In a parallel development, Korea Electric Power Corporation and Petrovietnam signed an MOU on human resources development for the nuclear energy sector. The agreement seeks to cultivate skilled professionals, improve understanding of Korean nuclear technology, and lay the groundwork for future cooperation on nuclear power plant projects.
Ahead of the summit, the two ministers exchanged Records of Discussion between the Korea Institute for Advancement of Technology and Vietnam’s National Institute of Mining and Metallurgy Science and Technology to establish a technology cooperation center for critical mineral supply chains in Vietnam. The initiative includes a five-year, KRW 16.6 billion (USD 12 million) development assistance program starting later this year to supply equipment, provide technical guidance, and train workers in mineral beneficiation and smelting.
MOTIE stated that the Korean government will continue to facilitate public-private collaboration to turn these agreements into concrete business projects, strengthening the long-term, future-oriented economic partnership between the two countries.
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