BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) Busan announced that 10 regional businesses are attending the Vietfood and Beverage, an international food and beverage exhibition taking place in Saigon Exhibitions and Convention Centre, Ho Chi Minh City, to pioneer the new market in Vietnam.

Ten of Busan's companies including MatDdeulAn Food, Daesun Distilling Corporation, Shinheung F&D, Korina Trade, Hanji, Ilkwang Confectionery, Kimmaru, Bora Trade, HB Corporation and Hansung Enterprise Co., Ltd. are attending the exhibition and set up group booths. 

The Vietfood and Beverage is an exhibition where various kinds of food and beverage from Asian region including Vietnam are featured, and 96 Korean businesses participated last year.

Vietnam is the 4th largest food importer to South Korea and it is showing a big growth rate in food consumption due to rapid economic growth and young population.

Korean food has high possibility of successfully entering the new export market because K-Food is now popular thanks to the Korean Wave, and has competitive price following the Korea-Vietnam FTA negotiation.

In cooperation with KOTRA, Busan City and Busan Chamber of Commerce and Industry will provide support, such as providing local market information, in order to raise export outcomes of the Korean participants.

A City official said, "To target the big Vietnamese market that has great growth potential, we plan to carry out support policy for exports, such as expanding cooperative projects with large distributors in the local market including Lotte Mart."

joseph@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (August 8, 2018)