Mega Us Expo 2022 - Business Day connecting Korea - Vietnam trade

DNHN - Korea-Vietnam Business Day (Mega Us Expo 2022) coordinated by Jeonbuk Economic and Creative Innovation Center (JBCCEI), Saigon Innovation Hub (SIHUB), Koretoviet Trade Promotion Center and JYGlobal organization union.

On the morning of August 23, 2022, in Ho Chi Minh City, Jeonbuk Creative Economy Innovation Center - Korea (JBCCEI), Ho Chi Minh City Innovation Startup Support Center (Sihub) held a press conference to announce the “End of Business Day” Korea-Vietnam trade link” (Mega Us Expo 2022). 

Korea-Vietnam Trade Connection Business Day - MEGA-US EXPO 2022 will be held on September 21 and 22, 2022 at Gem Center, No. 08 Nguyen Binh Khiem, Da Kao Ward, District 1, Ho Chi Minh City.

This is a program organized with the support of the Korean Government to strengthen the commercial capacity of enterprises to expand the market and increase cooperation with Vietnamese enterprises. Mega Us Expo 2022 brings benefits to both buyers and suppliers. Businesses and program attendees not only have access to top businesses but also use all the exclusive utilities only available at Mega Us Expo 2022 such as Talkshow from leading industry speakers: listen to sharing from leading experts in the field, learning experiences and answering questions about business cooperation; assisting in scheduling appointments, finding out information about potential partners, opening up opportunities to connect with Korean companies/enterprises through booths in the exhibition space; ODM/OEM cooperation: support contact with ODM/OEM partners, improve product finishing ability;

Marketing support: providing a professional, creative and professional marketing team to meet the diverse marketing needs of businesses; Supporting 1:1 interpretation: a team of experienced interpreters, agile processing thinking, helping to remove the language barrier between businesses of the two countries.

At the press conference held on the morning of August 23, Mr Shim Jae Yoo - Consulate General of the Republic of Korea in Vietnam said: “The program is the result of the cooperation relationship between the provincial creative economic innovation centre and the economic innovation centre of the province. Through the Mega Us Expo 2022, Korean and Vietnamese companies will have more opportunities to exchange, build trust and develop business. successful”.

Citing data from CB Insights, Mr Shim Jae Yoo emphasized: Among 1,180 unicorn businesses worldwide, it is impossible not to mention famous businesses like Facebook. Also on this list, Korea has 15 unicorns - Coupang is a typical business. Vietnam is not inferior to unicorns like MoMo, VNG, etc. Not only that, the entry of Korean start-ups like Baemin, and Toss... into the Vietnamese market is a positive signal in Korean-Vietnamese trade.

Nguyen Manh Cuong, deputy director of the Southern Department of Work (Ministry of Science and Technology), said that over the past time, organizations and businesses of the two countries have signed many new technologies transfer cooperation agreements, high technology, forming R&D research and development centres, training high-tech human resources, building factories and workshops to serve the production chain of high-tech industrial products, enough standards for global supply chains…

Ho Chi Minh City Innovation and Entrepreneurship Support Center Ho Chi Minh - Saigon Innovation Hub (SIHUB) was established on August 5, 2016, by the City Department of Science and Technology. This is Vietnam's first start-up - innovation model supported by the State in the form of connecting and sharing resources. SIHUB is the place to receive resources from Ho Chi Minh City to deploy and support start-up activities, aiming to be the start-up city of the nation.

Also, at the press conference this morning, Mr Huynh Kim Tuoc - CEO of Saigon Innovation Hub informed us that SIHUB and JBCCEI had signed cooperation agreements to promote trade and expand markets for Vietnamese and Korean start-ups.

Notably, the two sides established the Koreatoviet Creative Startup Product Promotion Center, supporting the promotion of more than 200 products of more than 120 projects from the two countries and more than 565 B2B matching sessions for businesses.

“The cooperation between SIHUB, JBCCEI and Korean partners has also opened up opportunities for universities and start-ups of the two countries to learn about each other's markets and access investment funds. Thereby effectively developing technological innovations for businesses and start-ups of the two countries to make stronger strides, “said Mr Tuoc.

Up to now, Vietnam has become the 4th largest trading partner of Korea. Korea is currently the number one country in terms of direct investment in Vietnam; second on cooperation in the development of ODA, labour and tourism; commercial third.

After 30 years, trade cooperation between Vietnam and Korea has increased 160 times, from 500 million USD to 80.7 billion USD in 2021. The two countries set a target to increase the turnover to 100 billion USD by 2023 and $150 billion by 2030.

Tran Linh (T/h)