Korean SMEs supported to export products to Vietnam
The Ministry of Small- and Medium-sized Enterprises and Startups (MSS) of the Republic of Korea on July 10 signed a tripartite memorandum of understanding with Lotte Mart and Lotte Global Logistics to support Korean SMEs to export products to Vietnam.
Shoppers at a Lotte Mart in Seoul. (Photo: Yonhap/VNA)
Seoul (VNA)🧸 – The Ministry of Small- and Medium-sized Enterprises and Startups (MSS) of the Republic of Korea on July 10 signed a tripartite memorandum of understanding with Lotte Mart and Lotte Global Logistics to support Korean SMEs to export products to Vietnam.
Accordingly, qualified products of Korean SMEs will be supported to be sold at Lotte Mart Vietnam while Lotte Global Logistics will transport the products with its lowest international shipping rates.
Under the MoU, the three sides agreed to establish a cooperation system and support the export of high-quality products of Korean SMEs.
The MSS planned to organise a promotional even called “Companion Festival” in September to stimulate the consumption of excellent Korean products in Vietnam with the support of Lotte Mart and Lotte Global Logistics.
Meanwhile, SMEs will receive consultations from logistics experts to establish logistics strategies that are cost-effective and suited to the products’ characteristics. If needed, logistics services such as storage, management and delivery of products will be provided through overseas warehouses owned by Lotte Global Logistics./.
Lotte Card Co., Ltd, No.5 credit card issuer in the Republic of Korea, said on May 2 that it has funneled 93.7 billion KRW (68 million USD) into its Vietnamese unit - Lotte Finance Vietnam - to expand its business in the Southeast Asian country.
Lotte is on the way to expanding its presence in Asia by launching Lotte Mall West Lake Hanoi – a mega commercial complex with the concept of “A One-Day Trip in the City”, aiming to offer Vietnamese people a number one shopping experience in the region.
President Nguyen Xuan Phuc welcomed Lotte Group’s investment of nearly 5 billion USD in Vietnam and suggested the Republic of Korea’s conglomerate further invest in Vietnam’s large projects, while hosting Lotte Chairman Shin Dong-bin in Hanoi on August 31.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
