Vietnamese goods loved more in the RoK

Update: 11/18/2014
Vietnamese goods loved more in the RoK
(VEN) - Talking with Vietnam Economic News’ The Vinh, Lotte Vietnam Shopping Co., Ltd Sales Manager Yoon Byung Soo said that many Vietnamese goods have attracted Republic of Korea (RoK) consumers in the 10 years plus after they first entered the RoK market.

What is your assessment of Vietnamese goods?

Vietnamese goods have rapidly improved in terms of quality, quantity and design and increasingly satisfied consumers inside and outside Vietnam. However, Vietnamese goods in general remain unable to compete with product of the same kind made in a number of foreign countries. With the fast economic growth and the business community’s strong investment in technological development, Vietnamese goods will surely gain customer trust and carve a solid niche on the market in the near future.

How do RoK consumers welcome Vietnamese goods?

Vietnam and the RoK have had good political, cultural and economic relations for a long time. Thousands of RoK businesses have invested in Vietnam, while a large amount of Vietnamese goods, diverse in type, were exported to the RoK. Vietnamese rattan, bamboo and leaf wares, fine art and handicraft articles, farm produce, seafood, fruits and dried fish have attracted RoK consumers. Apart from having good quality, Vietnamese goods in the RoK are diverse in design, have reasonable prices and importantly satisfy demand of the vast majority of consumers in the RoK.

Have Vietnamese goods carved a niche on the RoK market because they are attractive to RoK consumers?

Ten years plus ago, the presence of Vietnamese goods in the RoK remained humble and they were unfamiliar to RoK consumers. In recent years, RoK economic experts and businesses directly arrived in Vietnam to learn about the origin of Vietnamese goods and then ordered Vietnamese businesses to manufacture goods for them. Many kinds of Vietnamese goods have since then been exported to the RoK according to annual contracts. Vietnam-RoK trade relations have been expanded.

Lotte Vietnam Shopping Co., Ltd Sales Manager Yoon Byung Soo said that Vietnamese goods accounted for 95 percent of all foreign goods in RoK-based Lotte marts. Yoon said the group had committed to increasing the presence of Vietnamese goods in Lotte marts in Indonesia and China apart from Vietnam now and in the future.

Does Lotte support Vietnamese goods’ penetration to the RoK and some other countries, apart from strongly investing in major shopping centers in Vietnam?

In July 2014, we worked with the Industry and Trade Review, Small and Medium Enterprises Development Support Center 2, and International Glory Co., Ltd. to open a ‘notable Vietnamese goods’ exhibition in Lotte Ho Chi Minh City, Lotte Binh Duong and Lotte Dong Nai systems. Attracting 100 businesses, the exhibition introduced 1,000 Vietnamese products of good quality. We have selected 200 out of these 1,000 products for a Vietnamese goods exhibition to be held in the RoK from November 6-12, 2014.
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