Namwon Bioindustry Research Institute Signs MOU with Korean Business Association in Vietnam

Strengthening Cooperation for Entry and Marketing in Vietnam

Namwon Bioindustry Research Institute (Director Lee Youngcheol) announced on August 12 that it recently signed a business agreement at the Secretariat of the Korean Business Association in Vietnam to strengthen cooperation for the entry and marketing of Jeonbuk bio beauty companies into Vietnam.

Namwon Bioindustry Research Institute recently signed a business agreement at the Secretariat of the Korean Business Association in Vietnam to strengthen cooperation for the entry and marketing of Jeonbuk bio beauty companies into Vietnam. Photo by Namwon City

The MOU (Memorandum of Understanding) agreed upon by the two organizations includes: the exchange of information to support Jeonbuk bio beauty companies entering Vietnam; cooperation in providing local market trends and consulting; establishing practical cooperative relationships through joint seminars and workshops; strengthening partnerships to promote product trade; and maintaining information exchange and confidentiality based on mutual trust.

The Korean Business Association in Vietnam, the largest Korean business organization in Vietnam established in 2003, has about 400 Korean companies and organizations as its members. It carries out various support activities, including protecting the rights and interests of companies operating in Vietnam, improving the business environment, and promoting Korea-Vietnam economic cooperation.

Meanwhile, Namwon Bioindustry Research Institute, together with local bio beauty companies, participated in the Cosmo Beauty Vietnam Export Fair held in Ho Chi Minh City, Vietnam, from July 24 to 26. During the event, they held a total of 51 buyer meetings and achieved significant results, including signing business agreements and Letters of Intent (LOIs) worth a total of $2.9 million.

The participating companies were SBC Co., Ltd., SEI Co., Ltd., ROK Co., Ltd., and KOBICS Co., Ltd.?a total of four companies. They promoted their products and held buyer consultations at a joint exhibition booth, focusing on functional skincare, mask packs, and sun care product lines.

This initiative was carried out as part of the 2025 Cosmetics Companies Export and Talent Development Support Project, which was launched for the first time this year. Before participating in the fair, the Bioindustry Research Institute focused on increasing the likelihood of export contracts by arranging pre-matching with overseas buyers and translating promotional materials.

Lee Youngcheol, Director of Namwon Bioindustry Research Institute, stated, "Through this project, we were able to directly confirm the real export potential and establish a foundation for export cooperation with local organizations, making this a very meaningful achievement." He added, "Going forward, the institute will continue to strategically respond to the global export market for bio beauty companies by working in collaboration with Namwon City and related organizations."

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