Vietnamese State President Luong Cuong. Photo: Vietnam News Agency

The visit comes at the invitation of South Korean President Lee Jae Myung.

This will be President Cuong’s second time attending the APEC Leaders’ Week, following his participation in Peru last year.

APEC brings together 21 member economies to promote trade, investment, and economic development.

Together, APEC members account for nearly 40 percent of the world’s population, about half of global trade, and around 60 percent of global GDP.

Under the theme ‘Building a Sustainable Tomorrow,’ this year’s summit, held in Gyeongju, South Korea, from October 28 to 31, will focus on addressing common challenges for future generations, including artificial intelligence and demographic change.

The event is expected to attract more than 1,700 delegates, including government officials and business leaders from across the region.

Vietnam and South Korea established a comprehensive strategic partnership in 2022.

South Korea remains Vietnam’s largest foreign investor, the second-largest ODA provider and tourist source market, the third-largest trading partner, and the third-largest destination for Vietnamese workers.

In 2024, bilateral trade reached US$81.5 billion, up 7.3 percent from the previous year.

Major South Korean technology conglomerates have deepened their presence in Vietnam.

Among them, SK Group has provided capital and R&D support for Vietnamese startups, while Samsung established Samsung Innovation Campus labs in cooperation with the National Innovation Center in Hanoi.