With the risk of domestic electricity shortages intensifying and Japan recently withdrawing from key infrastructure plans, Việt Nam is now looking to South Korea to help revive its nuclear power ambitions.
Latest Developments: On the afternoon of April 22 in Hà Nội, President Tô Lâm and South Korean President Lee Jae Myung presided over a ceremony to exchange 12 directional cooperation documents between the two nations. While the agreements span technology, security, agriculture, and healthcare, the energy sector dominated the diplomatic exchange.
During the event, the two leaders also reaffirmed their mutual goal of nearly doubling bilateral trade turnover, pushing it from $89.5 billion in 2025 to $150 billion by 2030.
The Details: Two highly significant memoranda of understanding anchored the energy discussions regarding nuclear infrastructure.
- The first outlines joint research into the development of nuclear power plants, which Petrovietnam (PVN) and the Korea Electric Power Corporation (KEPCO) signed.
- The second focuses on establishing the necessary financial cooperation research for these massive projects, creating a coalition between PVN, KEPCO, the Export-Import Bank of Korea (KEXIM), and the Korea Trade Insurance Corporation (KSURE).
The Backstory: In 2010, Việt Nam successfully surveyed and prepared infrastructure for two major projects: Ninh Thuận 1 (assigned to Russia) and Ninh Thuận 2 (assigned to Japan). By 2016, the government abruptly suspended both projects over escalating costs and global safety concerns.
Why It Matters: Việt Nam has been actively seeking new partners ever since Japan withdrew from cooperation plans to build nuclear power plants, citing concerns over Hà Nội’s accelerated implementation timeline.
Meanwhile, in late December 2025, Russia’s Rosatom announced its readiness to step in and implement the Ninh Thuận 1 project using “the most advanced technology currently available.”
The Timeline: On Aug. 20, 2025, the Politburo issued Resolution 70 on national energy, formally mandating the urgent implementation of the Ninh Thuận 1 and Ninh Thuận 2 nuclear power projects. The resolution dictates that the state must secure suitable international partners to ensure the plants achieve operation between 2030 and 2035.
Thạch Hãn wrote this article in Vietnamese and published it in Luật Khoa Magazine on April 23, 2026. The Vietnamese Magazine has the copyrights of the English translation.
