Nonsan city in Chungcheongnam province of the Republic of Korea (RoK) on February 20 announced the opening of its trade office in Ho Chi Minh City. (Photo: Yonhap) The office, put into operation on February 18, aims to provide administrative and financial support to import-export activities for businesses, along with information about the local market situation.
It is headed by KimJung-min, General Director of JM Group, a distributor of Korean products suchas Cheong Kwan Jang ginseng and Korea Eundan vitamin supplement capsules.
Through the JM Group,Nonsan plans to export 2.6 billion KRW (over 2 million USD) worth ofagricultural products to Vietnam in the next three years.
Nonsan Mayor BaekSung-hyeon said that the launch of the trade office in Vietnam, one of theimportant trade partners of the RoK in Southeast Asia, is expected to open theway for Nonsan’s businesses and agricultural products to the world.
According to the Rok’s Ministry of Trade,Industry and Energy, the RoK posted a trade surplus of 34.26 billion USD withVietnam in 2022, making Vietnam its largest trade partner. Last year, the RoK’sexport turnover to Vietnam totaled 60.98 billion USD, while it spent 26.72billion USD on importing goods from the Southeast Asian nation./.