Vietnam, RoK sign fisheries cooperation pact, targeting sustainable development

The agreement was inked during Acting Minister of Agriculture and Environment Tran Duc Thang’s first overseas mission in his new position, in bilateral talks with South Korean Minister of Oceans and Fisheries Chun Jae-Soo. The meeting underscored the friendship between the two nations while marking a new phase in their fisheries partnership.

Minister Chun welcomed the Vietnamese delegation and praised the country’s abundant marine potential and its role in global seafood trade. He noted that relations have steadily advanced since the first cooperation MoU was signed in 2002. The latest MoU, he said, is an important milestone that will usher in broader and deeper cooperation in the fisheries sector.

On behalf of Vietnam’s Ministry of Agriculture and Environment, Acting Minister Thang congratulated Minister Chun on his recent appointment by the South Korean government and expressed hope that bilateral cooperation would be elevated to new heights following the signing.

Expanding cooperation for 2026–2030

The two ministers discussed a wide range of practical and strategic cooperation areas. Thang emphasized the substantial potential for fisheries investment and trade between the two countries and proposed that South Korea introduce businesses to invest in Vietnam’s marine aquaculture sector. South Korea is currently the largest foreign investor in Vietnam, with more than 9,700 FDI projects, and the country’s third-largest trading partner.

The ministers agreed to intensify cooperation in marine aquaculture, sustainable fisheries development, and the sharing of technology for catch monitoring and traceability to address the EU’s IUU yellow card. Vietnam expressed interest in adopting environmentally friendly, industrial-scale cage farming technology and invited South Korean businesses to invest through public-private partnership (PPP) models.

Minister Chun affirmed South Korea’s readiness to transfer technology, including the application of artificial intelligence in fisheries, expand training programs, and transfer modern technical expertise to Vietnam.

Both sides committed to continuing substantive cooperation in sustainable fisheries management, resource conservation, and expanding seafood trade and investment for the 2026–2030 period.

Strategic links for the future

Since establishing diplomatic ties more than 30 years ago, Vietnam and South Korea have upgraded their relationship to a comprehensive strategic partnership, achieving notable successes in multiple sectors. South Korea is Vietnam’s largest foreign investor, with total registered capital nearing USD 85 billion. In 2024, bilateral trade reached USD 82.1 billion, with seafood accounting for over USD 890 million, more than USD 800 million from Vietnam’s exports. Both sides see significant untapped potential for trade and investment in the fisheries sector and have pledged to create favorable conditions for further growth.

“Vietnam considers fisheries a key pillar in its sustainable marine economic development strategy,” Thang said. “We look forward to learning from South Korea’s experience, and propose key cooperation priorities including sustainable fisheries development, modern marine aquaculture technology transfer, ocean plastic waste management, human resource training, and seafood trade promotion.”

He pledged to direct the effective implementation of the MoU and related cooperation programs, and extended an invitation for Minister Chun to visit Vietnam to explore opportunities and discuss strategic directions for elevating the partnership.

Details of the agreement

The MoU aims to promote and enhance the existing friendly relations between the two ministries in fisheries, based on equality and mutual benefit. It covers:

Development of sustainable fisheries and aquaculture;

Promotion of fish and fish product processing and trade;

Policy exchange and capacity building, including fisheries and aquaculture training;

Safety and quality management of fish and fish products;

Prevention, deterrence, and elimination of IUU fishing;

Any other areas jointly agreed upon.

Minister Chun appreciated the cooperative relationship and affirmed his willingness to visit Vietnam when possible. Both sides acknowledged the effectiveness of recent fisheries cooperation, particularly in trade and aquaculture, and voiced commitment to building on this foundation in the years ahead.