More South Korean enterprises seek business opportunities in Vietnam

Samsung Bac Ninh photo Dantri

At the event, which attracted over 100 Vietnamese enterprises, the South Korean enterprises introduced products, such as medical and electric equipment, cosmetics, while reserving a special spot for machinery and equipment for the chemical and petrol industries.

“I know Vietnam is a potential market for trading. However, I think it is difficult for South Korean enterprises to find Vietnamese partners without an information channel such as KOTRA Hanoi. After the event, I hope to find Vietnamese partners,” Kim Dong-hwa, managing director of DongA Electric Device Co., Ltd said.

A representative of Hyundai Entec, which specialises in manufacturing cosmetics of eco-friendly origin, said the signing the Korea-Vietnam Free Trade Agreement (KVFTA) will open corporate opportunities between Korea and Vietnam.

“Notably, the import tax will be reduced, so Vietnamese consumers will have better access to Korean cosmetics at better prices,” he said, adding that KOTRA Hanoi’s event was a good opportunity to expand Hyundai Entec’s business activity in the Vietnamese market.

Dinh Van Tuan, deputy director of Petrolimex Construction Joint Stock Company-1 (PCC1), said that PCC1 was currently cooperating with two Korean enterprises. Through this event, the company wanted to expand its connections with more South Korean enterprises.

Lee Sung Hun, deputy director of the Korea Business Centre in Hanoi, said that KOTRA Hanoi played an important role in increasing trade between the two countries, especially after the KVFTA was signed.

“We absolutely believe in and highly appreciate the development potential of the Vietnamese market,” he added.

In 2015, KOTRA Hanoi will hold ten trading events and three large-scale exhibitions in Hanoi.