Gate News message, April 23 — South Korea and Vietnam signed more than 70 memoranda of understanding (MOUs) during President Lee Jae Myung’s state visit to Hanoi on April 23, covering AI, energy, infrastructure, and telecommunications. A business forum attended by over 500 executives discussed AI and power industry ecosystems, with major Korean conglomerates including Samsung, SK, LG, and Hyundai represented.
Samsung C&T and Vietnamese telecommunications company CMC signed an MOU to build a hyperscale data center in Ho Chi Minh City, with the first 30-megawatt phase carrying a planned investment of $250 million. LG CNS also partnered with Vietnam Posts and Telecommunications Group (VNPT) to develop a separate hyperscale data center facility. Additionally, two MOUs from the state visit outlined early cooperation on nuclear energy, covering technical collaboration and financing discussions for nuclear power plant projects in Vietnam.
The agreements reflect South Korea’s broader expansion strategy in the Global South, with Vietnam serving as a key production hub in Korean supply chains. The deals align with Vietnam’s efforts to diversify suppliers and reduce reliance on Chinese electronic components, while advancing its transition to more advanced technologies and strengthening supply-chain resilience.
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