Yoon signs multiple deals in first visit as president to Vietnam
Vietnam agrees to support denuclearisation of Korean peninsula
Leaders commit to boosting trade which this year is slumping

HANOISEOUL, June 23 Reuters South Korea and Vietnam agreed on Friday to boost security cooperation, citing North Korea39;s nuclear threat, and committed to increasing bilateral trade and investment despite a slump this year and Vietnam39;s planned tax hikes on large firms.

In his first visit to Vietnam as president, South Korean leader Yoon Suk Yeol acknowledged economic woes but reiterated Vietnam39;s key role for Seoul39;s growth strategy.

He signed 17 agreements with Vietnam39;s President Vo Van Thuong on a number of issues, from critical minerals to Vietnamese workers in Korea, and said Seoul would step up cooperation with Vietnam against North Korea39;s nuclear threat.

Vietnam is one of few countries which can boast close relations with Pyongyang. Vietnam is ready to participate in the process of denuclearisation of the Korean peninsula, Thuong said in a joint press conference.

The two nations also agreed to boost defence industry relations and security cooperation in the South China Sea. South Korea is one of many countries discussing possible arms sales to Vietnam as it seeks to modernise its arsenal.

Korea and Vietnam over the last few decades have developed almost symbiotic industrial ties, with South Korea being the largest foreign investor in Vietnam. Seoul also…