Hanoi:<Text>

President Lee Jae Myung on Thursday underscored the importance of cooperation with Vietnam to build resilient supply chains for key raw materials, such as rare earths and urea solution, amid global uncertainties. Lee made the remarks at a business forum in Hanoi attended by business leaders from both countries, as part of his state visit accompanied by a large business delegation.

According to Yonhap News Agency, Lee emphasized the critical nature of economic cooperation between South Korea and Vietnam, especially in the energy sector. Rare earths, vital for semiconductors, batteries, and electronics, alongside urea solution, a key fluid used in diesel vehicles to reduce emissions, were highlighted as crucial components in need of a robust supply chain. Lee also stressed the importance of expanding Vietnam's energy infrastructure to support its manufacturing sector and urged Korean companies to enhance their collaboration in this area.

Vietnamese Prime Minister Le Minh Hung echoed Lee's sentiments, committing to foster practical cooperation between firms from both nations. Hung encouraged Korean companies to increase their investments in high-value sectors, such as semiconductors, artificial intelligence, and clean energy, while also promoting technology transfer to bolster Vietnam's industrial ecosystem.

The business forum saw participation from leaders of South Korea's major conglomerates, including Samsung Electronics Chairman Lee Jae-yong, SK Group Executive Chair Chey Tae-won, LG Group Chairman Koo Kwang-mo, and Lotte Group Chairman Shin Dong-bin. Seventy-four memorandums of understanding (MOUs) were signed, covering areas like artificial intelligence, energy, infrastructure, and technology, as reported by the Korea Chamber of Commerce and Industry, the event's organizer.

Among the notable agreements, SK Innovation and SK Telecom reached an understanding with Vietnam's National Innovation Center for the develop ment of an AI data center in Nghe An province. Daewoo Engineering and Construction partnered with Vietnam's SaigonTel for a joint data center project, while nuclear power plant builder Doosan Enerbility signed an agreement with Vietnam's PetroVietnam Technical Services Corporation and PetroVietnam Construction Joint Stock Corporation to collaborate on new nuclear power projects in Vietnam.