Home&Shopping Signs MOU with K-Market to Support SME Market Expansion in Vietnam

Developing New Overseas Distribution Lines to Expand Market Access for SMEs
Providing Product Information, Promotional Materials, and Export Support Services

Lee Won-seop, CEO of Home&Shopping, Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, and Go Sang-gu, Chairman of K-Market (from left), signed a memorandum of understanding (MOU) to support market access for small and medium enterprises in Da Nang, Vietnam, on the 7th.

[Asia Economy Reporter Donghyun Choi] "Today (the 7th), I came to Vietnam early and visited K-Market, where almost all the products on display were Korean goods. There were also many customers. I thought it could serve as a foothold for exporting Korean food and industrial products."

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated this on the afternoon of the 7th at 5 PM (local time) at the 'Shilla Monogram Danang' in Danang, Vietnam, during the signing ceremony of the 'Home&Shopping-K-Market Memorandum of Understanding (MOU)'. This ceremony was held to promote cooperation between K-Market and Home&Shopping in various fields to support the overseas expansion and sales channels of domestic SMEs.

Established in 2002, K-Market is the largest Korean distribution company in Vietnam, operating about 136 Korean food distribution stores nationwide. It employs about 1,400 local Vietnamese staff. It was also the first Korean-Vietnamese business to be selected as one of Vietnam's top 100 brands.

Since its establishment in 2011, Home&Shopping has supported SMEs in securing sales channels by offering the industry's lowest sales commission rates and maintaining an 80% ratio of SME programming. Through this agreement, Home&Shopping will recommend excellent SME products, provide product information, videos, promotional materials, and support export-related tasks.

Going forward, K-Market will purchase and sell products recommended by Home&Shopping and plans to set up a dedicated Home&Shopping section in major stores across Vietnam to actively promote outstanding domestic SME products.

Ko Sang-gu, Chairman of K-Market, said, "Over 10,000 of our SMEs have entered Vietnam alone, and despite harsh and difficult conditions, they are gradually expanding their economic territory. We will actively cooperate so that SMEs abroad can operate in better environments and work for the Republic of Korea."

Lee Won-seop, CEO of Home&Shopping, said, "Through this MOU signing, practical measures have been established to support overseas sales channels for excellent domestic SMEs. We will continue to spare no effort to support Home&Shopping, K-Market, and domestic SMEs to achieve a win-win and coexistence."

About 70 guests attended the signing ceremony, including Kim Ki-moon, Chairman of the Korea Federation of SMEs, Lee Won-seop, CEO of Home&Shopping, and Ko Sang-gu, Chairman of K-Market.

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