Overall objectives

Establish a partnership between companies from Vietnam and Korea in order to satisfy the demand for high quality products of Vietnamese firms and the urge to enhance the relationship between 2 nations.

Background and specific objectives

Korea and Vietnam established the strategic partnership in 2014. Since then, there have been several decrees passed to enhance the commercial state between 2 nations. One of the most signigicant decision was to issue the VKFTA in May, 2015 and it also become effective as from the December of that year. VKFTA implied a number of contents including loosening the customs barrier, establishing new markets, and  applying the MFN on investors from Korea and vice versa.

In the social-economic context, the Vietnam-Korea relationship has been affably maintained. As a matter of fact, the relationship has showed the potential of the sustainable development. According to the Ministry of Industry and Trade, the total trade turnover between 2 countries had reached the rate of $US 68.2 billion by the end of last year and it is expected to overpass $US 100 billion in 2020.

As for enterprises in Vietnam, perceived demands for high technology, organic ferilizer and other microbiology products has been rising for years as a result of the competive international market. The economy of Vietnam is an agriculture based economy. Vietnam is one of the top rice and coffee exporting countries in the world, but the limited sophistication of small-scale Vietnamese farmers causes quality to suffer. This phenomenom is widely acknowledged in other domains. Vietnamese industries urgently need game-changing technologies to enhance its state in the international market otherwise it will not meet the market’s rigorous quality requirements.  On the other hand, Korea is a developed country. In addition, Korea possesses progressive technologies and demand for export their finance and technologies to Vietnam

Project Approach and Results

Chungcheongbuk-Do was chosen to represent 9 Korean enterprises specializing in 9 respectively distinct fields. We decided to hold the event at Lotte Legend Saigon Hotel in Hochiminh city. This 5-star hotel was run by Korean Lotte incorporation and capable of hosting such occasion at the international level. Our intention was to create the homelike air to Korean companies. Thus, the hotel would help us display our professionalis and earnest. Furthermore, Hochiminh city was the financial cetrer of Vietnam and it was often chosen to host foreign trade events. A few weeks before the event, we collected information of many Vietnamese companies from various source. Although it was the promptest time of the year, 40 companies and organizations agreed to show up at the seminar. Aparently, the fact indicated the succesful prospect of the seminar.

 

No.

Company name

Email

Business field

Logo

1

Airlon Co., Ltd

airpink.co.kr

airlon.net

 

Insulating materials

2

Nanumbio Co., Ltd

nanumbio.com

Natural friendly fertilizers and devices

3

Baekjo Sink Co., Ltd

baekjosink.com

Stainless sinks

4

Nature Best Foods

Co., Ltd

charmoats.com

Oat product line

5

Joybio Co., Ltd

joybio.co.kr

 

Soil conditioner, deodorant, water supply for cattle...

6

DS Polychem Co., Ltd

dspolychem.com

 

Polycarbonate sheets

7

BI Land

biland.kr

Eco-friendly artificial grass

8

David Aqua System

davidaquasystem.com

Irrigation system

9

JK Global Industry

www.jkg.kr

Sinks and drain fittings

 


The event went smoothly and the cooperative spirit filled the air. Participants have many questions about the features of product, price, insurance policy, maintainance policy. During the meeting, Bao Dai group and Airlon Co reached an agreement about establishing a partnership deal with each other. The Memorandum of Understanding was signed by the representatives from 2 companies and it set a new base of their business relationship in the future.