JEOLLABUK-DO < invest Korea

According to Newsis,

Startups from Jeollabuk-do are speeding up to enter the Vietnam market.

The province announced on September 5 that it has more than tripled its performance from a year ago at the 2023 Korea-Vietnam Mega Us Expo held jointly by the two governments at the GEM Center in Ho Chi Minh, Vietnam, producing export contracts worth USD 8 million and 104 MOUs worth USD 28 million.

This expo was jointly promoted by start-up support organizations in the province, including Jeonbuk provincial government, Jeonbuk branch of MSS (Ministry of SMEs and Startups), Jeonbuk Creative Economy Innovation Center, and Jeonbuk National University, and Saigon Innovation Hub, a start-up support organization under Ho Chi Minh City, Vietnam. It is a special cooperative project between the two countries to help startups in the province who want to enter the Vietnamese market secure potential partners such as local buyers, investors, and partners.

This year's Expo was attended by 128 local startups engaged in such fields as agricultural & life, bio, ICT, and manufacturing innovation who want to enter the Vietnamese market and 20 local start-up support organization. More than 4,000 people, including those from local institutions, buyers and investors, visited the Expo and drew huge popularity and attention from local media outlets.

In particular, there were lectures and live shows by famous Vietnamese influencers such as famous hackers in the ICT field and YouTubers with more than 1 million followers, garnering greatly positive response. According to the province, Medi N Research (Jeonju) and Cospreen (Jeonju), which specialize in beauty in the province, signed an export contract worth USD 2 million and USD 1 million, respectively, while Gunsan Cultural Cooperative (Gunsan) 'G Local i' signed a content export contract worth about USD 100,000.

An official from Jeonbuk government office said, "It seemed the energy of Ho Chi Minh City, a dynamic market, is rejuvenating startups from our province," adding "we will keep cooperating at working-level with Vietnam to build a win-win relationship between the two local governments".

leo@newsis.com

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Source: Newsis (September 5, 2023)