Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) The Korea Trade Investment Promotion Agency (KOTRA) announed on August 21 that it will host a seminar on the investment environment of food market in Vietnam on August 22 jointly with the Vietnam Trade Promotion Agency (VIETRADE) at KOTRA office in Seoul.

The sessions include, the opportunities to entering Vietnam's food processing industry, the increase of population and growth of food industry in Vietnam, process of corporation establishment in Vietnam, and status of M&As of the industry, with about 200 expected participants from companies interested in Vietnam's food market.

According to KOTRA, the size of Vietnam's food industry showed an year-on-year increase by 8.1% to USD 10.6 billion.

As the income level rises, the interest in food safety is rising and the preference of quality food is becoming clearer.

In particular, preferences of Korean food such as ramyeon and dairy products are quite high.

"Since the Vietnamese market has young consumers as 60% of the population in Vietnam is below 35 years old, food industry possesses high potential and can play as a driving force for new investments," said Kim Yong-guk, Head of Invest Korea, KOTRA.

bluekey@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (August 21, 2018)