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April 22 (Asia Today) — South Korean President Lee Jae-myung held summit talks with Vietnam’s top leader on Tuesday to strengthen cooperation in nuclear energy, infrastructure and supply chains, as both countries seek to navigate rising global uncertainties.

Lee met with To Lam in Hanoi during a state visit, where the two sides discussed expanding strategic cooperation across key sectors, including energy security and critical minerals.

The talks come as prolonged conflict in the Middle East heightens concerns over global energy supply disruptions, prompting both countries to pursue more resilient and diversified supply chains.

South Korea and Vietnam, each among the other’s top three trading partners, agreed to deepen cooperation not only in trade and investment but also in nuclear power, infrastructure, defense and other strategic industries.

The two countries have set a goal of increasing bilateral trade from $94.6 billion in 2025 to $150 billion by 2030.

Lee is expected to express support for South Korean companies seeking to participate in major Vietnamese infrastructure projects, including a new urban development project valued at about 1.1 trillion won ($740 million) and a new airport project estimated at 102.7 billion won ($69 million).

The leaders are also expected to discuss expanding cooperation in science and technology, climate response, artificial intelligence semiconductors and cultural industries, as well as boosting people-to-people exchanges such as tourism.

Ahead of the summit, Lee said relations between the two countries had reached a “comprehensive strategic partnership” following the 30th anniversary of diplomatic ties in 2022.

“Through this visit, we aim to further develop our highest-level cooperation into a more future-oriented and strategic partnership,” Lee said during a meeting with Korean residents in Vietnam.

Lee also paid tribute at the mausoleum of Ho Chi Minh before the summit and is scheduled to attend a state banquet hosted by the Vietnamese leadership.

On Wednesday, Lee is expected to meet Vietnam’s prime minister and National Assembly chair, and attend a business forum with executives from major South Korean conglomerates, including Lee Jae-yong, Chey Tae-won and Koo Kwang-mo.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260422010007161

SEOUL, April 1 (UPI) — South Korean discount chain Home Plus said Tuesday that a court has begun to review the sale of its neighborhood grocery store chain, Home Plus Express.

Home Plus, which is under receivership, said the court started the procedure of selecting a preferred bidder after receiving reports from its sales adviser, Samil PricewaterhouseCoopers.

“Prior to the March 31 deadline, multiple companies were confirmed to have participated in the bidding process to acquire Home Plus Express,” the firm said in a statement.

Home Plus did not disclose further details, including the number of bidders and their identities.

However, Mega MGC Coffee has reportedly presented a bid for Home Plus Express. The budget coffee chain, which is owned by MGC Global, operates nearly 4,000 stores across South Korea.

Both MGC Global and Home Plus declined to confirm the reports.

Following unsuccessful attempts to sell Home Plus as a single entity, the divestment of Home Plus Express has emerged as a key pillar of its rehabilitation plan. The unit generated $730 million in revenue in 2024.

The Express division has a network of almost 300 stores and most of them are located in high-density urban areas. Home Plus also runs more than 100 large-format outlets.

In 2015, South Korea’s leading private equity fund, MBK Partners, purchased Home Plus from Tesco in a landmark $5 billion deal. In recent years, the retailer has struggled amid pandemic-related disruptions and the rise of e-commerce giants.

Since early last year, MBK Partners has tried to dispose of Home Plus to little avail. As a result, the company has shifted its focus to the sale of Home Plus Express.