Korean and Japanese agricultural products and food enter Vietnam

VCN - Vietnam is an important consumption market for enterprises supplying agricultural products and food from Japan and Korea.
Minister of Finance Ho Duc Phoc works with Korean Ambassador to Vietnam Minister of Finance Ho Duc Phoc works with Korean Ambassador to Vietnam
Strengthening cooperation between Vietnam Tax Agency and Korean Tax Agency Strengthening cooperation between Vietnam Tax Agency and Korean Tax Agency
Ha Nam province facilitates operations of Korean firms Ha Nam province facilitates operations of Korean firms
Korean and Japanese agricultural products and food enter Vietnam
K.food staff "go to the street" to invite customers to try their products. Photo: N.A

Promote marketing

After a period of market access, many agricultural products and foods from Korea and Japan are expanding consumption and conquering Vietnamese consumers. Specifically, after a period of interruption due to the pandemic, recently, Uiseong province in South Korea held a meeting to introduce Korean processed agricultural products to consumers in HCM City.

Since 2019, many product introduction activities have also been organized by this unit and have achieved certain success. The representative of Uiseong province said that this activity was part of a support project for Korean agricultural exporters to overcome the Covid-19 pandemic and develop export channels in the Vietnamese market.

Enterprises assessed that the Free Trade Agreements (FTAs) that Vietnam has joined have reduced import taxes from partners, helping foreign agricultural products and food easily access the Vietnamese market.

In the future, enterprises of Uiseong province wish to promote the export of quality products such as black garlic, red ginseng, ginseng, and some types of fermented fruit drinks with low alcohol content to the Vietnamese market.

According to a representative of K.food, a brand used to promoting food in Uiseong province, previously, marketing and product introduction activities were mainly aimed at corporate customers and distributors, but now they will focus on retail customers.

Accordingly, at the store introducing products of Uiseong province under the brand name K.food, in the past few days, customers could try many high-end products such as Korean ginseng essence and deer antlers.

Similarly, the Japan external trade organization (Jetro) in HCM City was organizing a long-term exhibition of Japanese food products called "Tasty in all of Japan" to introduce to Vietnamese customers and businesses. The exhibition brought together a variety of foods from Hokkaido in the north to Kyushu and Okinawa in the south. Of which, about 70% of products are completely new in the Vietnamese market.

According to the product introduction units, agricultural products and food are all processed with modern technology to retain their natural and healthy flavors. The shelf life of these products is quite long, from six months or more, which is very convenient for distribution and consumption.

Important market for foreign agricultural products

In a Jetro survey on business development abroad, more than 40% of Japanese enterprises have chosen Vietnam. Vietnam surpassed many countries, becoming the second most popular destination of Japanese enterprises, after China. The Jetro office in HCM City regularly receives questions and advises Japanese businesses on bringing their goods into Vietnam for consumption.

In the past few days, thousands of Vietnamese agricultural products have been stuck at northern border gates as China continues to apply strong measures to prevent the Covid-19 pandemic. The situation that agricultural products and fruits after being harvested are transported directly to the border gate is an issue that has been mentioned for many years, but there has been no significant change.

Exporting to difficult markets also faces challenges in terms of technical standards. This makes the export volume, although increasing, still account for a small proportion of the total harvest.

Meanwhile, in the domestic market, many high-quality foods from other countries have gained a certain foothold and are intensifying marketing activities to increase consumption. This poses a problem about the processing industry and quality standards.

Hirai Shinji, Jetro representative in HCM City, said that from being a destination of production activities, Vietnam has become an important consumption market for Japanese enterprises.

Specifically, in 2019, Vietnam ranked sixth in the top 10 import markets for Japanese agricultural, forestry, and fishery products. But in 2021, it has risen to fifth position and is the market with the highest growth in import turnover of this group of products, reaching more than 17%.

According to the representative of Uiseong province, agricultural products of the province in particular and of Korea in general exported to Vietnam are very healthy and easy to use, suitable to the needs and tastes of Vietnamese consumers, including young people. Additionally, hundreds of thousands of Koreans living and working in Vietnam are also a bridge to introduce local specialties to Vietnamese friends, helping to expand the market for these products.

Hairim Yoo, Director of Seoho Company, the representative unit of Uiseong's product distribution project in Vietnam, in recent years also said that compared to other markets Uiseong was exporting to, the Vietnamese market had low purchasing power. However, this company is still confident that the Vietnamese market will continue to grow in the future and the company is focusing more on brand promotion.

Besides, the purchasing power of the Vietnamese people is increasing. Korean strawberry and grape peony are two of the best examples. In particular, peony grapes cost up to millions of VND per bunch but still sell well.

According to Hirai Shinji, Chief Representative of Jetro in HCM City, many Japanese items such as ice cream, seasonings for rice, natto beans, apple cider vinegar, seaweed, mushrooms, and packaged dried foods are popular with consumers in cities in Vietnam with high sales in recent years.

"Although not essential items, they are still consumed during the pandemic, showing that Vietnamese consumers are increasingly preferring Japanese products," said Hirai Shinji.

Despite having a higher price compared to other similar products in the Vietnamese market, goods from Japan and Korea have their own attraction, especially food items. Additionally, many Japanese and Korean businesses and retail groups such as Lotte, Aeon, and Daiso have increased the opening of supermarkets and stores in Vietnam, facilitating the distribution and consumption of their products.

Related News

Regulating goods across Huu Nghi International Border Gate during peak times

Regulating goods across Huu Nghi International Border Gate during peak times

VCN – In order to reduce the pressure on customs clearance of import and export goods for the international border gate pair during peak times, the management agency of Lang Son (Vietnam) has just discussed with the management authority of Pingxiang (China) to strengthen coordination in regulating the means of transporting goods of enterprises on both sides.
Coconut is expected to become a billion-dollar export item

Coconut is expected to become a billion-dollar export item

VCN - Talking to the press at the ceremony to launch the first train carrying fresh coconuts to China, Mr. Luu Van Phi, Director of the Department of Industry and Trade of Tien Giang province, said that Vietnam's agricultural export potential, especially fresh coconuts, is expanding with the appearance of international railway transportation from Song Than station.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Vietnam

Vietnam's daily import expenditure surpasses VND25,000 billion

VCN - From the beginning of the year to mid-October, on average, Vietnam spent more than USUS$1 billion (equivalent to more than VND25,000 billion) each day importing goods.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Plastic exporters interested in converting to recycling technology

Plastic exporters interested in converting to recycling technology

VCN - The Vietnamese plastics industry is facing major challenges in terms of plastic waste and recycling needs. Secretary General of the Vietnam Plastics Association Huynh Thi My (pictured) shared important information about the transformation in production of plastics enterprises to meet increasing export demands.
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version