The State Bank of Vietnam reported that Deputy Governor Doan Thai Son and Bank of Korea Governor Chang Yong Rhee signed and exchanged a new memorandum of understanding on cooperation and technical assistance for central banking activities, replacing the two central banks’ 2024 memorandum. The new memorandum broadens the scope of cooperation and sets a framework for delegation exchanges, experience sharing and coordination on specific research topics aligned with practical needs and implementation resources. Separately, during a 12 August 2025 visit to the Bank of Korea, Doan Thai Son met Deputy Governor Chae Byung Deuk, with discussions covering ongoing bilateral monetary and banking cooperation, the role of Korean financial institutions operating in Vietnam, and capacity-building support including the Bank of Korea Knowledge Partnership Programme across areas such as monetary policy operations, exchange rates, foreign exchange management, systemic risk oversight, payment system supervision, cash supply forecasting and management, and balance of payments statistics. The two sides tasked relevant units to study and propose further expansion of cooperation and exchanges at both senior and technical levels on topics of mutual interest.
State Bank of Vietnam 2025-08-14
State Bank of Vietnam signs expanded technical assistance and central banking cooperation memorandum with the Bank of Korea
The State Bank of Vietnam and the Bank of Korea signed a new memorandum of understanding to enhance cooperation and technical assistance in central banking, replacing their 2024 agreement. The memorandum expands cooperation scope, including delegation exchanges and research coordination. Discussions also covered bilateral monetary cooperation and capacity-building support through the Bank of Korea Knowledge Partnership Programme.