Going to Vietnam... Gyeongbuk's Excellent Agricultural Products Fully Enter Asia's Largest Market

Gyeongbuk Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Koo Dae-sun] Gyeongbuk Province is accelerating its entry into the Vietnamese market, the largest agricultural and food export country in the ASEAN region, as it resumes overseas local market development activities that were suspended due to COVID-19.

On the 28th, Gyeongbuk Province visited the first Lotte Mart store in Vietnam, Nam Saigon Branch, and signed a business agreement with Lotte Mart Vietnam Corporation to expand exports of Gyeongbuk agricultural and food products to Vietnam.

At the signing ceremony, Gyeongbuk Governor Lee Cheol-woo, Lotte Mart Executive Director Kim Chang-yong, Vice Chairman of the Ho Chi Minh City District 7 People's Committee Tran Quoc Xuan, and Han Chang-hwa, Chairman of the Gyeongbuk International Friendship Parliamentarians Federation, attended and held promotional events for excellent local agricultural products such as Shine Muscat grapes and apples, agreeing to closely cooperate to expand exports.

In this agreement, Gyeongbuk Province and Lotte Mart agreed to join forces in discovering promising export items and utilizing online and offline distribution networks for promotion, sales promotion, and sales expansion to pioneer the Vietnamese market.

Lotte Mart currently operates three corporations and 64 stores in two countries, Vietnam and Indonesia.

Lotte Mart entered Vietnam in 2008 as the first Korean distribution company, operating 15 stores and an online mall, continuously targeting overseas markets and growing alongside the increasing demand for K-Food.

Prior to this, on the 27th, Gyeongbuk Province visited the headquarters of Market Saigon, a Vietnamese e-commerce specialist company, to hold a consultation meeting for the online entry of Gyeongbuk agricultural and food products, discussing collaboration plans such as discovering specialized products for the local online market and marketing.

Market Saigon, established in 2020, is an e-commerce company based in Ho Chi Minh City, Vietnam, engaged in K-Food import and distribution as well as fulfillment services.

Market Saigon is a rapidly growing company whose monthly sales increased more than fourfold last year during the COVID-19 lockdown in Vietnam, a country that previously lacked a distribution system like Korea.

Gyeongbuk Province plans to use this collaboration as a foothold to expand the ASEAN market by expanding overseas online and offline distribution channels, discovering promising export items, revitalizing overseas antenna shops, and increasing participation in international food fairs, nurturing Gyeongbuk agricultural and food products as a leading model of K-Food in the new Korean Wave era.

Governor Lee Cheol-woo of Gyeongbuk Province said, “Despite the global economic downturn, Vietnam showed outstanding growth with 13.67% in the third quarter and is expected to demonstrate vigorous purchasing power in the online and premium markets in the future,” adding, “Based on overseas consumers’ interest and trust in K-Food, we will accelerate the overseas market penetration of Gyeongbuk premium agricultural products.”

This content was produced with the assistance of AI translation services.