Vietnam is gold mine for South Korean FCMG manufacturersOver 50 South Korean product items, from chewing gum, instant noodle, cosmetics, and liquor to functional food are available in the Vietnamese market. In 2009-2014, the retail turnover of South Korean groups in Vietnam, estimated at $100 million, ranked fourth among the fastest growing markets, just after Russia, Iran and China.In South East Asia, South Korean manufacturers consider Vietnam the priority market. VietNamNet Bridge - Vietnam’s ranks highly in statistical reports about consumption of South Korean sweets, ginseng and cosmetics.A survey by Euromonitor International conducted of 400 South Korean leading fast moving consumer goods (FCMG) manufacturers shows that 132 manufacturers, or 33 percent, have expanded their business to Vietnam.Vietnam tops the list of 10 countries that South Korean manufacturers are eyeing. Reports all show that the total revenue from FCMG in Vietnam in 2014 was by far higher than that in Singapore, the Philippines and Thailand.With more than 90 million people, Vietnam is the market that most attracts the attention from South Korean manufacturers. Meanwhile, China mainland attracts 112 companies, or 28 percent, which is lower than the figure for Vietnam.Over 50 South Korean product items, from chewing gum, instant noodle, cosmetics, and liquor to functional food are available in the Vietnamese market.

Source: VietNamNet News July 07, 2016 09:00 UTC