Trade Conference Connecting Vietnamese - Korean businesses

DNHN - The Vietnam-Korea Economic and Cultural Center (Vikocen), in cooperation with the Korea Blue Reborn Campaign Association, held the Global Connection Workshop "Blue Lounge" in the morning of December 2 in Hanoi in order to deepen the relationship, promote trade and investment exchanges, and help Vietnamese and Korean businesses realize their potential for collaboration.

The Vietnam-Korea Economic and Cultural Center (Vikocen), in cooperation with the Korea Blue Reborn Campaign Association, held the Global Connection Workshop "Blue Lounge" in the morning of December 2 in Hanoi in order to deepen the relationship, promote trade and investment exchanges, and help Vietnamese and Korean businesses realize their potential for collaboration.

On the Vietnamese side, Mr. Pham Van Yen, Director of the Vietnam-Korea Economic and Cultural Center (VIKOCEN), as well as representatives of the Business & Integration Magazine and companies including Rosa Bonita, Fancy, GIMI, LAP, Moc Huong, and Emi Balance, attended the seminar. Participants on the Korean side included Mr. Teawon Jeong, the chairman of Blue Reborn, as well as Cheuda SMP, Haewum, Hygge Farm, and Korea Thistle.

A strategic cooperation agreement in cultural and political exchanges between Vikocen and Blue Reborn was signed at the event with the aim of fostering future trade and investment between the two nations.

Although the global economy still faces many difficulties and challenges, Mr. Pham Van Yen, Director of the Vietnam-Korea Economic and Cultural Center (VIKOCEN), said in his speech at the conference that trade between Vietnam and Korea still affirms the potentials and strengths of each nation. In particular, the trade turnover between Vietnam and the Republic of Korea exceeded 60 billion USD in the first eight months of 2022, an increase of 22% from the same period in 2021. The bilateral trade turnover is anticipated to reach 90 billion USD in 2022. Thus, it is likely that the two sides will soon reach the goal of 100 billion USD in trade turnover by 2023 that was set by the senior leaders of the two nations.As a result, Korean investors have also put in close to 3.5 billion USD, or close to 21% of the total investment capital, placing them second among all the nations and territories that have put money into Vietnam over the past eight years.

Business representatives from Korea come from a wide range of sectors with strengths in this nation, including cosmetics, F&B services, health care, etc. One example is Haewum Cosmetics Company, which has a line of anti-inflammatory goods. Sunshine just for golfers, Shine Muscat Sweet Grape Product Line from Hygge Farm, and Milk Thistle Foods from Korea Thistle Company... Tattoos in particular took part in the introduction, with the world's best and most recent tattoo technology, Scalp Micropigmentation (SMP), introduced by Cheuda Company to the Vietnamese market.

There are a lot of well-known businesses on the Vietnamese side as well, including Fancy, Rosa Bonita, Moc Huong, Minh Trang Dental Clinic, Emi Balance, CEO Training Organization Company DT Group, Co. LAP Import Export Company, GIMI Development Investment Company, TT & G Vietnam Trading Service Company, and many others.

Vietnam is Korea's third-largest trading partner after China and the US, and it is the largest investment destination in Southeast Asia, according to Mr. Teawon Jeong, Chairman of Blue Reborn. Due to the close guidance of the Vietnamese government, local authorities at all levels have drastically improved the business investment environment by adjusting and supplementing many policies and opening up the best possible conditions for Korean companies to invest and produce in Vietnam.

CEO of Fancy Miss Hong Nhung shared: "The 30th anniversary of diplomatic ties between Korea and Vietnam is this year. I have attended numerous events aimed at bridging Korean and Vietnamese industry, but this is one of them. impresses me greatly. Although there are not many Korean businesses participating, they are of high caliber. In order for me to understand the product and the best way to collaborate, the organizers also set up opportunities for businesses to interact and work directly with one another. In the upcoming years, I hope that Korean businesses can invest more in Vietnam and transfer more technology, allowing Vietnamese consumers to purchase a wide range of high-quality Korean goods at the best prices ".

It is clear that this is a good chance for businesses from the two nations to interact, share ideas, and look for chances for investment and economic cooperation. The workshop was held in conjunction with the two nations' numerous celebrations of the 30th anniversary of the establishment of diplomatic ties between Vietnam and Korea.

Among the events at the business gathering between Korean and Vietnamese companies:

Hanh Nguyen