On 11 August, South Korean President Lee Jae Myung hosted Vietnamese leader To Lam in Seoul to discuss deeper economic and strategic cooperation. The leaders agreed to promote trade and investment, with a goal of expanding trade to $150 billion by 2030. The two countries signed at least 10 memoranda of understanding covering cooperation in areas such as nuclear and renewable energy, monetary and financial policies, and science and technology. The visit is seen as a way to create favorable conditions for South Korean businesses, to invest in Vietnam’s planned infrastructure and energy projects. This comes as both nations face uncertainty from new U.S. tariffs on their goods.