South Korean President Lee Jae Myung and Vietnamese Communist Party chief To Lam have pledged to deepen economic and strategic cooperation amid ongoing global trade challenges. The leaders met in Seoul and agreed to nearly double bilateral trade from $81.5 billion in 2024 to $150 billion annually by 2030. Their cooperation will span multiple sectors including diplomacy, security, defense, nuclear power, high-speed railways, renewable energy, critical minerals, science, and digital technology. The summit resulted in the signing of 10 memorandums of understanding (MOUs) aimed at strengthening ties between the two Asian export powerhouses. Additionally, South Korean President Lee is scheduled to visit the United States from August 24 to 26 for his first meeting with U.S. President Donald Trump since taking office in June 2025. The summit in Washington on August 25 will focus on security alliance and economic issues, highlighting the evolving strategic alliance between South Korea and the United States.