By Diplomacy Journal Lee Kap-soo

Cho Hyun-sang, vice chairman of HS Hyosung and chair of the APEC Business Advisory Council (ABAC), met with Vietnamese President Luong Cuong on July 15 in Haiphong to discuss enhancing economic exchange between Korea and Vietnam and ensuring the successful hosting of the upcoming APEC Summit.

During the meeting, CHO expressed gratitude to President Luong Cuong for Vietnam’s vital role as the host of the third ABAC meeting. He also delivered an official APEC invitation, requesting the President to serve as a keynote speaker at the APEC CEO Summit scheduled for this October.

“ABAC plays an important role in conveying the voice of the private sector to governments worldwide, fostering global economic cooperation,” President Luong Cuong said. “I will positively consider your invitation to deliver the keynote address.”

He also expressed appreciation for Korea and Vietnam’s partnership, noting, “Vice Chairman Cho, as Chair of the Korea-Vietnam Economic Cooperation Committee, and HS HYOSUNG have made significant contributions to Vietnam’s economy in terms of investment and employment.”

As ABAC Chair, Cho led the third ABAC meeting from July 15 to 18 in Haiphong, discussing key global trade and economic issues.

Ahead of this year’s APEC Summit, which marks Korea’s first time hosting the event in 20 years since the 2005 Busan meeting, Cho has been actively engaging in private diplomacy since his election as ABAC Chair in November last year.

Notably, he attended the Korea-US Business Council meeting in December 2024 and led an economic delegation to Washington D.C. in February 2025. During these visits, CHO emphasized the importance of Korea-US economic and security cooperation, highlighting Korea’s role as one of the United States’ largest investors and the critical position of Korean companies in key supply chains including semiconductors, secondary batteries, and energy.