KOTRA Holds Trade Consultation and Showcase in Vietnam to Coincide with Yoon's Visit

'Korea-Vietnam Partnership Expo' Side Events

The Korea Trade-Investment Promotion Agency (KOTRA) held the 'Korea-Vietnam Trade Consultation' and 'K-Industry Showcase' as side events of the 'Korea-Vietnam Partnership Expo' in Hanoi, Vietnam on the 22nd, coinciding with President Yoon Suk-yeol's state visit to Vietnam.

The trade consultation featured 100 Korean companies participating in sectors including ▲intermediate goods and components such as manufacturing, power, and plant infrastructure ▲new technologies such as ICT, smart farms, and cultural contents ▲premium and essential consumer goods ▲agricultural and marine products ▲medical and bio industries. On the Vietnamese side, 200 buyers participated. Through this, a total of about 540 one-on-one business consultations were conducted. Contract amounts worth approximately 56 million USD and consultation amounts totaling about 110 million USD were recorded.

The venue of the 'Korea-Vietnam Business Consultation' and 'K-Industry Showcase' held in Hanoi, Vietnam on the 22nd / Photo by KOTRA

The showcase consisted of a total of 10 booths, including 9 booths from large corporations and a Future Cooperation Pavilion (5 small and medium-sized enterprises and mid-sized companies), exhibiting products and services familiar to Vietnam such as future cars, eco-friendly technologies, and premium consumer goods. In particular, the Future Cooperation Pavilion was composed of a joint pavilion of domestic small and medium-sized enterprises and mid-sized companies that have entered the local market using new technologies such as ▲OKXE (used motorcycle trading platform) ▲Coconut Silo (cargo transportation brokerage platform) ▲Uvalve (smart farm AI control solution) and others.

KOTRA President Yoo Jung-yeol said, "Through this event, we confirmed that cooperation between the two countries is expanding beyond manufacturing to high value-added advanced and service sectors," adding, "KOTRA will do its best to support so that Vietnam's interest in our companies' products and services can lead to tangible export results and become an important opportunity for South Korea's 'trade surplus transition.'"

Last year, the 30th anniversary of diplomatic relations, Korea-Vietnam trade volume reached a record high of 87.7 billion USD. Over time, the trade volume has increased 175 times, and 8,800 Korean companies have entered Vietnam, maintaining a close economic cooperation relationship. Locally, there is high interest in Korean consumer goods, digital content, and services. With infrastructure development industries led by the Vietnamese government such as smart cities and smart farms expected to be activated in the future, economic cooperation between the two countries is anticipated to increase further.

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