On July 4, the two flags were cut down and burned in the Veterans Memorial Plaza at Del Valle Park.
City leaders, veterans and families came out to watch the raising of new flags.
The city's mayor called the act disgusting, especially considering Lakewood was founded by veterans.
"Every Memorial Day we come together at this very memorial to commemorate those who made the ultimate sacrifice in defense of our freedom, including the 43 young men who died in the Vietnam War from the city of Lakewood," said Mayor Todd Rogers. "So this is hallowed ground for us in the city of Lakewood and we're going to defend it."
The vandalism happened close to midnight last Thursday. Burn marks on the concrete and the flag pole were left behind and suspects seem to have burned the flags on top of a sawhorse barrier with a message to respect the memorial.
"The POW flag really upset me more than even the American flag," said James Stewart, commander of American Legion Post 496. "Because a lot of people lost their lives in Vietnam. Over 58,000 soldiers lost their lives and they're still unaccounted for, some of them, and that's why we still fly the flag."
After the flag raising - the community joined together to sing "God Bless America."
The mayor says they are committed to finding whoever did this and are asking the community to help by submitting any video evidence. Anyone with information can call the Lakewood sheriff's station at (562)623-3500.