Business

E-commerce trading floor on Korean products to be launched

An e-commerce trading floor will be set up to sell products from the Republic of Korea, a conference heard in Seoul on April 15.
E-commerce trading floor on Korean products to be launched ảnh 1Vietnamese, Korean firms introduce products on the sidelines of the conference (Photo: VNA)

Hanoi (VNS/VNA) - An e-commercetrading floor will be set up to sell products from the Republic of Korea, aconference heard in Seoul on April 15.

Hoang Ngoc Huan, Chairman of the Vietnam CableTelevision Corp, said his enterprise was preparing for an online/offlineproduct distribution project, backed by a strong marketing network.

The project would establish a new tradingplatform dedicated to selling reliable and quality Korean products, hesaid.

During the event, VTVcab, the Korea SMEs andStart-up Agency (KOSME) and Phu Thai Group signed an agreement aiming tosupport Korean enterprises in advertising and distributing their products in Vietnam.

Pham Dinh Doan, Chairman of Phu Thai Group, saidthe agreement would help Korea small and medium-sized businesses to effectivelylaunch their distribution channels in Vietnam.

Hosted by VTVcab and KOSME, the Vietnam BusinessExport Conference 2019 witnessed the participation of nearly 220 enterprisesfrom the two countries.

KOSME director Lee Sang Jik said hehoped the event will contribute to improving the bilateral trade between thetwo countries. 

Two-way trade has skyrocketed in the pastfrom a modest 500 million USD in 1992 to 60 billion USD in 2017 andapproximately 63 billion USD in the last 11 months of 2018.

Vietnam and the Republic of Korea aimedto boost bilateral trade turnover to 100 billion USD by 2020 with abalanced trade direction, following an action plan signed between the twonations late last year.

Under the plan, from now until 2020, the twocountries will cooperate to support Vietnamese enterprises in enhancing theircompetitiveness in the fields of spare parts manufacturing, automobiles, garmentand textiles, footwear and electronics while facilitating agricultural tradebetween the two sides.

The Republic of Korea is now the biggest foreigninvestor in Vietnam with total direct investment reaching 64 billion USD as ofMarch 2019, accounting for 18.4 percent of the nation’s total foreign directinvestment.-VNS/VNA
VNA
# e-commerce trading floor #sell products #conference #online/offline product distribution project #Korea SMEs and Start-up Agency (KOSME) #Vietnamplus #Vietnam News Agency Korea (RoK)
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