RoK businesses seek to promote tourism market in Vietnam

According to business representatives, amid increasingly diverse Vietnamese tourist destinations favoured by Koreans such as Da Nang, Nha Trang, Phu Quoc, and Da Lat, the two firms have co-operated to create synergy such as expanding customer interaction points and developing products aimed at serving tourists and combining duty-free shopping and tourism.

In particular, Lotte Duty Free and Modetour have devised a co-operation plan to promote tourism in Vietnam by coming together to sell package travel products nationwide.

The two sides are set to carry out joint marketing activities, including advertising and using social network services, while simultaneously setting up close linkages in a bid to ensure development strategies and long-term benefits for both sides.

According to statistics, by 2023 the highest proportion of passengers from Southeast Asia in terms of the total number of passengers on package tours provided by Modetour stood at 53%. The number of visitors to Vietnam was the highest among Southeast Asian nations at 44%.

Lotte Duty Free currently operates four branches in the Vietnamese market, including two in Da Nang, one in Nha Trang, and one in Hanoi. In 2023, the revenue of Lotte Duty Free branch in the country soared by 351% compared to the same period in 2022, of which revenue from Korean tourists accounted for roughly 60%.

Lee Seung-jun, head of global operations of Lotte Duty Free, said the company is working alongside Modetour to keep up with the growing demand of domestic customers after the COVID-19 pandemic.

As a means of meeting customer needs, the company will continue to research and provide special services, exclusively for Lotte Duty Free customers.

Meanwhile, Lee Woo-yeon, head of Modetour’s business department in Southeast Asia, said that, "Vietnam is the tourist destination most visited by Korean tourists and we hope to provide better services through this business cooperation agreement with Lotte Duty Free."

According to Lee Woo-yeon, Modetour will continue to collaborate closely with Lotte Duty Free as part of efforts to develop the markets in Vietnam, Guam, and Singapore, thereby helping customers to enjoy greater benefits.