Exhibition promotes Korean trade opportunities

(VEN) - An exhibition presenting outstanding Vietnamese brands took place at the South Saigon Lotte Mart, District 7, Ho Chi Minh City from June 24-28.

Exhibition promotes Korean trade opportunities

The exhibition was organized by the Industry and Trade Review in association with the Lotte Mart Trade Center Company Ltd, Small and Medium Enterprises Development Support Center 2, and the Ho Chi Minh City Center for Trade and Investment Promotion. Participants included 54 businesses from sectors such as food, textiles and garments, and handicrafts.

Industry and Trade Review Editor-in-Chief Nguyen Huu Quy said with the aim to help businesses take advantage of the Korea-Vietnam Free Trade Agreement (KVFTA), the exhibition was held to create favorable conditions for businesses of the two countries to promote trade and investment through effective communications. Businesses participating in the exhibition had a chance to meet and discuss trading opportunities with Korean importers which supplied goods for Lotte Mart.

Consul General of the Republic of Korea (RoK) in Ho Chi Minh City Park Noh Wan said that the exhibition offered Korean and Vietnamese manufacturers and importers a good chance to tighten relations, opening opportunities for products of the two countries to enter each other’s markets.
According to Lotte Mart Vietnam General Director Hong Won Sik, the exhibition was held not only to sell products of Vietnamese origin but also to present outstanding Vietnamese brands and open export opportunities to the RoK for Vietnamese businesses. “We have a plan to present outstanding Vietnamese brands through over 100 Lotte Mart stores in the RoK,” he said.

Ho Chi Minh City Investment and Trade Promotion Center Deputy Director Ho Xuan Lam said that over the last two decades, trade between Vietnam and the RoK had grown by 44 times, bilateral investment had increased by 250 times, the exchange of human resources had grown by 80 times, and that Vietnam was the largest recipient of Korean official development assistance (ODA). He believes the KVFTA will open a lot of bilateral investment and trade opportunities. Korean businesses will make the most of these opportunities to increase investment in Vietnam, and Vietnamese businesses will promote exports to the RoK, especially the export of agricultural, forestry and seafood products.

In conjunction with the exhibition, a workshop was held at Lotte Legend Hotel Saigon, Ho Chi Minh City, to create a business connection between Vietnam and the RoK. This activity was aimed at helping managers, associations, and businesses realize the opportunities as well as challenges that would face them in the process of implementing the KVFTA. The workshop also helped Vietnamese businesses learn about the demand of the Korean market as well as Korean regulations on the quality of products.

Workshop participants attended the signing ceremony for an agreement on the management over the Vietnam-Korea Trade and Investment Connection Program (VK Connect). A cooperation agreement was also signed between VK Connect founders and the Korea Chamber of Commerce and Industry in Vietnam (Kocham).

The RoK is the third largest trading partner for Vietnam and the largest direct investor in the country. It is also one of the largest ODA providers for Vietnam (about US$21 billion). Last year, Vietnam exported to the RoK US$7.11 billion worth of goods and imported US$21.74 billion worth of Korean products.

The Vinh

ven.vn

See also

Vietnam’s rice export forecast to enjoy another successful year

Vietnam’s rice export forecast to enjoy another successful year

Vietnam’s rice export is forecast to continue reaping successes this year as the world's rice prices remain high at least in the short term as global economic and political uncertainties have resulted in a high demand for rice reserves, according to experts.
Garment, footwear exports aim to reach US$80 billion by 2025

Garment, footwear exports aim to reach US$80 billion by 2025

Under the development strategy approved by the Government, for the long term, the garment, textile, leather and footwear sectors are still key export industries of the economy.
Vietnam pursues green foreign trade

Vietnam pursues green foreign trade

(VEN) - Vietnam reached a record foreign trade value of an estimated US$750 billion in 2022. Vietnam Economic News’ Phuong Lan spoke with Tran Thanh Hai, Deputy Director of the Ministry of Industry and Trade’s Agency of Foreign Trade about export growth and efforts to promote green, sustainable foreign trade.
Bright future for wood pellet exports: experts

Bright future for wood pellet exports: experts

With the trend of green consumption, the demand for wood pallets will continue to rise in the future, experts said.
Vietnam posts trade surplus of 3.6 billion USD in January

Vietnam posts trade surplus of 3.6 billion USD in January

Despite decreases in both imports and exports, the country still enjoyed a trade surplus of 3.6 billion USD in the first month of 2023, according to the General Statistics Office (GSO).
Agro-forestry-fishery exports set new record in 2022

Agro-forestry-fishery exports set new record in 2022

Agro-forestry-fishery exports set a new record of over 53.22 billion USD in 2022, according to the Ministry of Agriculture and Rural Development.

See more news

Trade with UK: Record growth, untapped potential

Trade with UK: Record growth, untapped potential

(VEN) - The UK-Vietnam Free Trade Agreement (UKVFTA) officially came into force on May 1, 2021. The two countries have seen bilateral trade growth despite the COVID-19 pandemic, and the UK is forecast to remain a promising export market for Vietnamese goods.
2022 foreign trade reaches a record high

2022 foreign trade reaches a record high

In 2022, Vietnam import and export turnover reached an estimated US$732.5 billion, the highest ever recorded. This is a great effort of ministries and sectors, including the Ministry of Industry and Trade in facilitating the domestic businesses to make effective use of free trade agreements (FTAs) and administrative reform, creating the most favorable conditions for import and export activities.
Garment exports expected at more than US$45 billion in 2023

Garment exports expected at more than US$45 billion in 2023

An important factor underpinning the growth of the textile and garment industry is the growth of the domestic supply of raw materials, which increases year over year.
First cargo welcomed in Hai Phong, Da Nang

First cargo welcomed in Hai Phong, Da Nang

Three terminal branches of Hai Phong Port JSC in the northern port city of Hai Phong on January 1 welcomed first cargo of 2023.
Vietnam targets textile-garment export growth

Vietnam targets textile-garment export growth

(VEN) - Free trade agreements (FTAs), especially new-generation ones, are expected to help Vietnam reach a textile and garment export value of US$45-47 billion in 2023.
The path to fostering green exports

The path to fostering green exports

(VEN) - Data from the recent Vietnam Export Promotion Forum 2022 organized by the Ministry of Industry and Trade and the European Chamber of Commerce (EuroCham) in Vietnam show that businesses in various sectors have renewed production to meet green manufacturing standards for exports, enhancing the competitiveness of Vietnamese goods in the international market. 
Agro-forestry-fishery exports to UK overcome barriers

Agro-forestry-fishery exports to UK overcome barriers

(VEN) - The UK-Vietnam Free Trade Agreement (UKVFTA), effective since May 1, 2021, has created favorable conditions as well as challenges for Vietnamese agro-forestry-fishery exports to this market.
Trade promotion helps export growth

Trade promotion helps export growth

(VEN) - Trade promotion has significantly contributed to Vietnam’s export achievements. Vietnam Economic News’ Viet Nga spoke with Vu Ba Phu, Head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE) about the agency’s work.
Trade deals: The good, bad and unpredictable

Trade deals: The good, bad and unpredictable

(VEN) -  Free Trade Agreements (FTAs) provide ample opportunities for trade. However, since many countries are constantly changing their policies with the aim of sustainable growth, businesses need to be more innovative to effectively penetrate these markets.
Vietnamese goods increase foreign presence

Vietnamese goods increase foreign presence

(VEN) - The volume of Vietnamese goods in the global trading system is on the rise, but their competitiveness remains weak. Vietnam Economic News’ Hoang Lan spoke about this issue with Deputy Director of the Ministry of Industry and Trade’s Domestic Market Department Le Viet Nga.
View more
Latest Most Read
Hai Phong pledges optimal conditions for investors

Hai Phong pledges optimal conditions for investors

Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
Việt Nam to further contribute to strengthening ASEAN solidarity: ambassador

Việt Nam to further contribute to strengthening ASEAN solidarity: ambassador

ASEAN foreign ministers are expected to propose initiatives and solutions to cope with challenges in the region and the world, strengthen the bloc's solidarity during their meeting in Jakarta on Feb 3-4.
Vietnam’s rice export forecast to enjoy another successful year

Vietnam’s rice export forecast to enjoy another successful year

Vietnam’s rice export is forecast to continue reaping successes this year as the world's rice prices remain high at least in the short term as global economic and political uncertainties have resulted in a high demand for rice reserves, according to experts.
Trade surplus with America exceeds US$100 billion

Trade surplus with America exceeds US$100 billion

Viet Nam enjoyed a trade surplus of US$100 billion with the Americas for the first time in 2022, according to the Ministry of Industry and Trade (MoIT).
Vietnam listed among top places to visit in the New Year

Vietnam listed among top places to visit in the New Year

Vietnam has been named one of the top 20 places to visit at the beginning of the new year by UK travel magazine Wanderlust for its beautiful natural sights, festive atmosphere, and favorable weather.
Calligraphy for the new year

Calligraphy for the new year

The sight of old men in traditional costumes writing calligraphy during Lunar New Year was once very popular in the days gone by. The tradition has long disappeared in modern times but it is being revived at the Spring Calligraphy Festival held in the capital Hà Nội. After two-year hiatus due to COVID-19, calligraphers, both local and international, are excited to be able to write again.
The joy of Tết for Mông people

The joy of Tết for Mông people

Unlike the majority of Vietnamese Kinh people, every year the Mong people often welcome the Lunar New Year around one month earlier. This year, the Mong people in mountainous Ha Giang Province have had a happier and better Tet after two years of COVID.
My Phong Nha

My Phong Nha

Phong Nha stands out with more than 300 caves, some of which are internationally famous. The caves and jungle create a unique landscape and terrain that you can rarely find in other places in the world.
Fireworks show to welcome the New Year 2023 in HCMC

Fireworks show to welcome the New Year 2023 in HCMC

(VEN) - Residents in Vietnam’s southern hub – Ho Chi Minh City (HCMC) – gathered for a countdown event with a beautiful fireworks show to welcome the New Year 2023 at the Bach Dang Speed Ferry Terminal.
Vietnam – Potential destination for Italian businesses

Vietnam – Potential destination for Italian businesses

This year, Vietnam and Italy celebrate the 45th founding anniversary of the Vietnam-Italy diplomatic ties with many achievements in all fields, including the growth of economic cooperation. The remarkable achievements were contributed by trade and investment promotion activities organized by the Italian Chamber of Commerce in Vietnam (ICHAM). Vietnam Economic News’ reporter talked with Mr. Michele D'Ercole - Chairman of ICHAM in Vietnam about these matters.
Prime Minister demands faster disbursement of public investment capital

Prime Minister demands faster disbursement of public investment capital

Prime Minister Pham Minh Chinh demanded faster pace of public investment capital disbursement while chairing the Cabinet meeting on Thursday.
Deputy FM highlights role of economic diplomacy in service of national development

Deputy FM highlights role of economic diplomacy in service of national development

The Ministry of Foreign Affairs has accompanied the Ministry of Planning and Investment and agencies to attract high-quality investment, connect and support foreign enterprises to invest and expand operations in Việt Nam, as well as to strengthen exchange and cooperation with investment funds and study international investment trends.
Việt Nam supports expansion of UN Security Council

Việt Nam supports expansion of UN Security Council

Addressing the first meeting of the Intergovernmental Negotiations on Security Council reform at the 77th UN General Assembly on January 26 (local time) in New York, Ambassador Nguyễn Phương Trà also emphasised improving the working method of the UNSC and limiting the use of veto power.
Prime Minister assigns tasks to Deputy Prime Ministers

Prime Minister assigns tasks to Deputy Prime Ministers

Prime Minister Pham Minh Chinh has signed decision 19/QD-TTg assigning tasks to the Deputy Prime Ministers.
Food and beverage industry to do well this year despite modest economy

Food and beverage industry to do well this year despite modest economy

The food and beverage market is forecast to grow by over 18% this year to 720 trillion VND (30.7 billion USD).
Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

Moving ahead with 2023’s Global Priorities: Electrification and Decarbonization

In 2023, the United Arab Emirates is taking center stage in the global efforts to address climate change and sustainability. Recently, leaders have gathered for Abu Dhabi Sustainability Week, kicking off a year of events leading up to the UAE-hosted COP28 at the end of the year.
Hanoi eyes 950 firms in support industries this year

Hanoi eyes 950 firms in support industries this year

Hanoi has set a target to have about 950 enterprises operating in the field of supporting industries this year, an increase of approximately 20 compared to 2022.
Vietnam to reduce environmental impact of textile-garment industry by 2030

Vietnam to reduce environmental impact of textile-garment industry by 2030

The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.
Hai Phong pledges optimal conditions for investors

Hai Phong pledges optimal conditions for investors

Hai Phong will always accompany with and create optimal conditions for investors, vowed Nguyen Trung Kien, head of the Economic Zone Management Board of the northern port city, during a meeting with foreign-invested businesses in the city on January 31.
Greening foreign investment

Greening foreign investment

(VEN) - The government’s declared commitment to reduce net carbon emissions to zero by 2050 has prompted a wave of high-quality, sustainable foreign direct investment (FDI) projects.
Southeast region prepares for new FDI wave

Southeast region prepares for new FDI wave

The southeast region is preparing necessary conditions in infrastructure, administrative procedures and human resources to welcome a new wave of foreign direct investment (FDI), as investors have flocked to the region right from the beginning of this year.
January FDI nears US$1.7 billion

January FDI nears US$1.7 billion

Vietnam attracted foreign direct investment (FDI) worth US$1.69 billion as of January 20 this year, down 19.8 percent annually, according to the General Statistics Office (GSO).
Tax revenue up 4.4 percent year-on-year in January

Tax revenue up 4.4 percent year-on-year in January

Tax revenue in January was estimated at VND165.7 trillion (US$7.06 billion), or 12.1 percent of the ordinance estimate, up 4.4 percent year-on-year, the General Department of Taxation reported on January 31.
State-owned banks under capital increase pressure

State-owned banks under capital increase pressure

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders.
Positive prospects for Vietnam’s stock market this year

Positive prospects for Vietnam’s stock market this year

2022 was an eventful year for the Vietnamese stock market with many records set.
Positive 2023 securities market forecasts

Positive 2023 securities market forecasts

(VEN) - Vietnam’s securities market experienced strong volatility in 2022, stemming from investor caution in the face of global economic and political uncertainties.
Vietnam looks ahead to 2023 climate summit

Vietnam looks ahead to 2023 climate summit

(VEN) - World leaders are hoping the COP28 Climate Change Summit, scheduled for November 30 to December 12, 2023, in the UAE will achieve expectations not met at the COP27 summit held in Egypt in November 2022.
Preserving nature, facilitating business

Preserving nature, facilitating business

(VEN) - In the past few years, the natural resources and environment sector of Hung Yen Province has advised authorities on state management of natural resources and the environment, contributing to provincial economic growth, industrialization and modernization.
AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

AkzoNobel Vietnam protects Cu Lao Xanh lighthouse against harsh weather

AkzoNobel, a leading global paints and coatings company and the major producer of Dulux brand, has completed repainting the Cu Lao Xanh Lighthouse project with Dulux Weathershield®. It is the third lighthouse in Vietnam recoated under the “Lighthouse Protection Campaign” of AkzoNobel.
JTI Vietnam commits to net zero greenhouse gas emissions

JTI Vietnam commits to net zero greenhouse gas emissions

Climate change is the most urgent issue of our time, and to limit its impact on life on earth, the rise in mean global temperature should not exceed 1.5°C above pre-industrial levels. The private sector plays a huge role in helping to achieve this goal, and companies must commit and take concrete action in accordance with the Paris Agreement.
Managed security provides IT talent gap solution for businesses in SEA

Managed security provides IT talent gap solution for businesses in SEA

Global cybersecurity company Kaspersky today reveals the state of MSSP in the region, particularly the main benefits that local SMBs and enterprises gain from this outsourcing model.
Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated

Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated

An inauguration ceremony of the headquarters of the Vietnam-Korea Institute of Science and Technology (VKIST) was held at the Hoa Lac Hi-tech Park in Ha Noi on January 17.
WHO to share mRNA vaccine technology with VietNam

WHO to share mRNA vaccine technology with VietNam

Vietnam, along with Bangladesh, Indonesia, Pakistan and Serbia will receive support from the World Health Organization (WHO)'s mRNA technology transfer hub in South Africa, announced the World Health Organization (WHO) on February 23.
Welcoming the year of digital data for Vietnam

Welcoming the year of digital data for Vietnam

(VEN) - In 2022, the government assigned more important functions and tasks in digital transformation, government, economy, society, technology, and electronic transactions to the Ministry of Information and Communications.
Hunting for real estate investment opportunities after Tet

Hunting for real estate investment opportunities after Tet

Although the market faced a standstill at the end of 2022, wealthy investors are still hunting for potential business opportunities after the Lunar New Year holiday.
Vietnamese university up 97 places in Webometrics ranking

Vietnamese university up 97 places in Webometrics ranking

Vietnam National University (VNU) - Hanoi climbed 97 places to rank 661st in the latest Webometrics Ranking of World Universities in 2023, which was announced on February 1 by the Cybermetrics Lab, a member of the Spanish National Research Lab.
PM inspects national key transport projects

PM inspects national key transport projects

The first phase of the 652.86km North-South Expressway has 11 component projects, three of which are invested in public-private partnerships (PPP). The rest, including the Mai Sơn-National Highway 45 project, are funded with public investment.
A great chance to invest in commercial property

A great chance to invest in commercial property

Vietnam's commercial real estate sector is still in its infancy and is mostly focused on Ho Chi Minh City and Hanoi. However, industry analysts assert that the market area has a great deal of untapped potential.
Nestlé Vietnam and the journey to sustainable development

Nestlé Vietnam and the journey to sustainable development

(VEN) - With nearly three decades of operation in Vietnam, Nestlé Vietnam has been implementing many initiatives to improve human health and protect the planet through its commitments and sustainable development strategy. Recently, the company has continued to be honored as the Most Sustainable Business in Vietnam.
VIMC embarks on strong recovery

VIMC embarks on strong recovery

(VEN) - In the context of the strong recovery of the maritime transport market, the Vietnam Maritime Corporation (VIMC) has brought into play its internal strength to achieve successful business results in 2022.
MM Mega Market launches a new modern Giá tốt business model

MM Mega Market launches a new modern Giá tốt business model

Recognizing changes in shopping behaviors, MM Mega Market has publicly launched its new business model – Giá tốt. Giá tốt is currently present in big cities and provinces in Vietnam with more than 250 Giá tốt partners, including Ho Chi Minh City, Hanoi, Da Nang, Binh Duong, Bien Hoa, Quy Nhon, Buon Ma Thuot, Rach Gia, etc.
PVCFC develops experts’ system

PVCFC develops experts’ system

(VEN) - The PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) recently held its annual review on accreditation of professionals and on the competency gap for experts at its headquarters in Ho Chi Minh City and Ca Mau Province.
The woman who revived Kim Hoang folk paintings

The woman who revived Kim Hoang folk paintings

(VEN) - Researcher and art collector Nguyen Thi Thu Hoa has made intense efforts to revive the 18th century Kim Hoang woodcut folk painting genre, which had all but disappeared over time.
Khmer

Khmer's ginger cake of love and faithfulness

According to legend, the cake is also a symbol of faithfulness between husband and wife.
Dutch diplomat donates Vietnamese paintings to national museum

Dutch diplomat donates Vietnamese paintings to national museum

The ambassador collected the two lacquer paintings Kieu Hanh (Proud) and Nhung Nu Hon Tinh Yeu (Kisses of Love) when she worked in Vietnam from 1997-2001.
Tet impressive in foreign ambassadors

Tet impressive in foreign ambassadors' eyes

Tet (Lunar New Year holiday) is always an interesting experience for foreigners in Vietnam. Enjoying the Tet atmosphere, foreign ambassadors have shared their feelings about the biggest traditional festival in the country.
Vietnam listed among top places to visit in the New Year

Vietnam listed among top places to visit in the New Year

Vietnam has been named one of the top 20 places to visit at the beginning of the new year by UK travel magazine Wanderlust for its beautiful natural sights, festive atmosphere, and favorable weather.
Five-day holiday for workers during Reunification Day period

Five-day holiday for workers during Reunification Day period

As the Hùng Kings' festival coincides with Reunification Day and International Workers' Day, workers will enjoy a rare five-day holiday.
Vietnam plans to attract Chinese tourists

Vietnam plans to attract Chinese tourists

Vietnam's tourism industry has targeted to serve about 110 million tourists in 2023, including 8 million foreign visitors.
The lure of Pu Luong

The lure of Pu Luong

(VEN) - Surrounded by high mountains and offering a cool climate all year round, the Pu Luong National Nature Reserve in the northern province of Thanh Hoa offers wild scenery and unique culture.
Mobile Version