Business

Korean products flood Vietnam’s beauty market

Many cosmetics businesses from the Republic of Korea plan to introduce more products in Vietnam, revealed the Korea Chamber of Business in Vietnam (KORCHAM).
Korean products flood Vietnam’s beauty market ảnh 1Illustrative photo (Source: VNA)

Hanoi (VNA) – Many cosmeticsbusinesses from the Republic of Korea plan to introduce more products inVietnam, revealed the Korea Chamber of Business in Vietnam (KORCHAM).

KORCHAM estimated the value of the RoK’scosmetics products exported to Vietnam would reach 100 million USD this year.

The Vietnam Association of Oils, Aroma andCosmetics said from June 14-16, the Mekong Beauty Show in HCM City attractednearly 200 RoK firms and more than 400 Korean cosmetics brands which have alreadyentered the local market.

Korean firms are seeking partners forproduction and distribution in Vietnam, where consumer scale is now at 33million people and will increase by about 30 percent every year.

RoK beauty products are favoured by Vietnamese consumersdue to their quality and affordable prices.

The Vietnamese cosmetics market’s value isexpected to hit 2.35 billion USD this year.

The Institute for International Trade underthe Korea International Trade Association (KITA) listed Vietnam as one of thetop five importers of the Republic of Korea (RoK) in 2017 in its reportreleased on June 20.-VNA
VNA
#Korea Chamber of Business in Vietnam #Korean products in Vietnam’s beauty market #KORCHAM #RoK’s cosmetics products exported to Vietnam #Mekong Beauty Show #Vietnam’s beauty market #Vietnamese cosmetics market #Vietnam News Agency #vietnamplus Korea (RoK)
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