The pavilion named “Vietnam – Korea Design Sharing” is a joint effort of the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade and the Korea Institute of Design Promotion (KIDP) under the Ministry of Trade, Industry and Energy.
The pavilion will feature products from seven selected Vietnamese and RoK companies.
Korean trade promotion organisations such as Korea Trade-Investment Promotion Agency (KOTRA), Gyeonggido Business & Science Accelerator (GBSA), SeongNam Industry Promotion Agency (SNIP), Gyeongbuk Economic Promotion Agency (GEPA) and Korea Design Centre have long been reliable partners of VIETNAM EXPO.
According to the Vietnam National Trade Fair & Advertising Company (VINEXAD), there has been a wave of Korean investment in Vietnam in the support industry, automobiles, electricity, electronics, garment-textiles and footwear.
Popular Korean brands such as GS25, K-mart, K-market, Lotte, Circle K, Emart, and FamilyMart have also become popular in Vietnam.
Vietnamese consumers are attracted by made-in-Korea products due to their quality, safety, environmental friendliness, eye-catching designs and reasonable prices.
The VIETNAM EXPO will create a chance for businesses to seek partners and introduce their products to customers.
Trade experts said the Vietnam-Korea Free Trade Agreement (VKFTA) will allow Vietnamese businesses to make use of tariff cuts while exporting agro-fishery products.
Businesses from 21 cities and provinces across Vietnam as well as 12 trade and investment promotion centres from Hanoi, Hai Phong, Quang Nam, Bac Giang, Nam Dinh, Ninh Binh, Yen Bai, Lao Cai, Binh Thuan, Thanh Hoa, Dong Thap and Dak Nong are expected to partake in the event.
A series of trade, investment promotion and exchange activities will be held as part of the expo, which will contribute to win-win economic cooperation between Vietnam and the RoK.
Two-way trade between Vietnam and the RoK hit US$61.5 billion in 2017, a year-on-year increase of 41.3%.
The two countries are working to raise the turnover to US$100 billion by 2020.