(VOVWORLD) - Vietnam-Republic of Korea trade ties are flourishing with trade revenue growing from 500 million USD in 1992 to 45 billion USD in September this year. But the number of Vietnamese brands in Korea remains small.
 Export of Vietnamese wood products to South Korea has increased after the Vietnam-Korea Free Trade Agreement took effect in 2015. (Photo: hanoitimes.com.vn) |
Trung Nguyen coffee is the only Vietnamese product widely distributed in the Republic of Korea. Other brands like Trung Thanh chili sauce and Nam Ngu fish sauce are only sold here and there in smaller shops.
Do Kim Lang, Deputy Director of the Trade Promotion Department of the Ministry of Industry and Trade, said Vietnam has 90 enterprises recognized as national brands. But they still pay little attention to promoting their brands globally. Most Vietnamese businesses are small and medium-sized businesses that export products with little added value.
Le An Hai, Deputy Director of the Asian–African Market Department, urged Vietnamese businesses to learn Korean food safety, product quality, and trademark registration in order to secure a firm foothold in the Korean market.
Hai said: “We have to export our products through Korean distributors, who have their own standards and requirements in design and packing. Securing a market share in the Korean market depends on the competence of each company.”
Pham Duy Khuong, Director of SB Law, a law firm specializing in intellectual property, said: “Domestic enterprises should increase their market study and professional evaluation. We need legal experts who will help us check and verify legal issues with our trading partners and whether our trademark and packing meets the host country’s standards.”