Vietnam’s ‘Independence, Self-Reliance and Peace’ Indo-Pacific Strategy ‘Rejection’ Vs Yoon Seok-Yeol ‘Freedom, Peace and Prosperity’ Strategy ‘Core’
President Yoon Seok-yeol said at a meeting with compatriots in Hanoi on the 22nd that Vietnam is a key partner of the Republic of Korea in building the Indo-Pacific of freedom, peace and prosperity.
Nguyen Phu Trong, president of the ruling Communist Party of Vietnam, said in a phone call with US President Joe Biden on March 29, “Vietnam is independent, self-reliant, peace, friendship, cooperation, diversification and multilateralization of relations, active and active "We are consistently pursuing a foreign policy of global integration," Reuters reported on March 30.
Regarding President Yoon’s Vietnam summit, Reuters said on the 22nd, “The talks will be held at an important time in the relationship between the two countries as trade between the two countries declines and Hanoi plans to raise taxes on Korea’s top manufacturers.” stated on the subject.
Korea's current account balance with Southeast Asia last year was $80.23 billion in surplus, down $22 billion from the previous year (+$102.36 billion).
On the other hand, the current account surplus with the US was $67.79 billion, expanding by $22 billion from the previous year (+$45.54 billion).
In particular, the Bank of Korea announced on the 22nd that the current account balance with China rapidly changed to a deficit of 7.78 billion dollars last year, a sharp drop of more than 30 billion dollars from the surplus of the previous year (+23.41 billion dollars).
Derek Grossman, chief defense analyst at Land Corporation, told Reuters about Secretary of State Blincoln's April 30 meeting with the Vietnamese prime minister, saying "Hanoi wants to avoid open participation in the US Indo-Pacific strategy designed to counter China." said.
Vietnamese state media Nhan Dan reported on a March 30 phone call with President Biden that the two countries agreed to "promote, develop and deepen" relations at the time.
A statement at the time of the White House said, “President Biden will work together to resolve regional issues and ensure a free and open Indo-Pacific while strengthening the United States’ commitment to a strong, prosperous, resilient and independent Vietnam.” ' to solve local problems.
The White House statement continued, “Biden also emphasized the centrality of the Association of Southeast Asian Nations (ASEAN), respect for human rights, and the United States’ commitment to cooperation on climate goals.”
Reuters said at the time, “The phone call, which is Biden’s rare meeting with a foreign leader who is not a head of state or head of government, came as the US president was hosting a second summit for democracy.”
The four countries of the Quad, the United States, Australia, India and Japan, said in a statement in April that they "maintain peace and stability in the Indo-Pacific region and oppose unilateral actions that seek to maintain the status quo by force." It expressed serious concern about efforts to obstruct other countries' offshore resource exploitation activities."
U.S. Secretary of State Blincoln, who visited Vietnam on April 15, right before the Quad statement was announced, met with Vietnamese Prime Minister Pham Minh Chin and told reporters, “As the United States seeks to solidify its alliance against an increasingly arbitrary China, we want to deepen our relationship.” “Security is one of the key components of our bilateral relationship. We have completed the third naval cutter shipment to support the Vietnam Coast Guard and this is increasing.”
Reuters reported at the time that “Washington and U.S. defense contractors have said publicly that they want to bolster their munitions to Vietnam, which so far have been limited to the Coast Guard and trainers, as Vietnam seeks to diversify away from Russia, which is now a major supplier.”
President Yoon's public announcement that "Vietnam is a key partner of the Republic of Korea in fostering the Indo-Pacific of freedom, peace and prosperity" seems to be an attempt to transform Vietnam's free market economy system with the Indo-Pacific strategy.