Korea SMEs and Startups Agency Holds Vietnam Export Consultation... "Supporting Chungcheong SMEs' Exports"

[Asia Economy Reporter Kwak Minjae] The Korea Federation of SMEs announced on the 31st that it held the '2022 Chungcheong Region TJB Vietnam Business Partnership Matching Day' in Hanoi and Ho Chi Minh City, Vietnam, from the 24th to the 29th.

This event saw the participation of 33 Chungcheong region SMEs, including 10 companies from Daejeon, 20 from Chungnam, and 3 from Sejong, showcasing a variety of products ranging from industrial goods such as water valves and BMS to consumer goods like cosmetics and red ginseng.

Organized to jointly develop overseas sales channels for Chungcheong region SMEs, the event had been held online for the past two years due to the COVID-19 pandemic but was held again in Vietnam this year.

Combining the know-how accumulated by participating companies over the past three years, as well as networks with the Vietnamese government and local organizations, 419 consultations were conducted between Chungcheong region SMEs and local buyers, resulting in consultations worth approximately $99.74 million. Successful outcomes included 41 MOUs and on-site contracts worth $29.84 million.

Additionally, to enhance participating companies' understanding of the Vietnamese market, a collaborative conference with the Vietnamese Ministry of Planning and Investment and a networking forum between Chungcheong companies operating locally and participating companies were held. After the consultation event, follow-up services such as trade association insurance enrollment and sample contract reviews were provided to support companies in continuing their overseas marketing efforts.

Kim Cheol-woo, Director of the International Trade Department at the Korea Federation of SMEs, stated, “Through this event, we confirmed that the overseas expansion of our SMEs, which had been stagnated due to the COVID-19 pandemic over the past two years, and the interest of local distributors have been reactivated. We plan to continuously support participating companies through active follow-up management by our local office in Vietnam.”

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