GS Home Shopping Pioneers SMB Market in Vietnam

 

$ 23 million export consulting outcome

 

 

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[Kang Shin-woo, the reporter of e-daily]

 

GS Home Shopping said on Monday that it had sent a research team for localization of Asian home shopping to Ho Chi Minh from July 22 to 26, achieving ＄23 million (approximately ￦25 billion) in export counseling.

 

The Asia Home Shopping Localization Research Team is a business that a joint venture business department, a large and small business cooperation foundation and the Korea Trade-Investment Promotion Agency (KOTRA) promote together to provide small businesses with opportunities to enter the Asian market.

 

GS Home Shopping has held localized event twice a year in Malaysia, Indonesia and Thailand since 2015, and the seventh event was held in Vietnam. Vietnam is emerging as a " post-China " based on its population of 100 million and high economic growth rates, and as the epicenter of the Korean Wave, is highly interested in and in favor of Korean products.

 

Eighteen small and medium Korean companies participated in the event, including Beaucre Merchandising Corporation, Hankuk-Bowonbio Co.,Ltd,, and ICURE Pharm. Inc. and GS Home Shopping helped them access to Vietnam and other countries.

 

 

The participating small and medium companies conducted one-to-one shopping consultations with buyers from some 50 leading companies of Vietnam, and five country joint Home Shopping MD of GS Home Shopping from Vietnam, India, Thailand, Malaysia and Indonesia. In addition, they studied Asian distribution markets and home shopping prospects, cases of inroad into each country, and conducted market research aimed at identifying popular products and prices of local distribution channels through its 'Overseas Home Shopping Market Strategy Meeting'.

 

As a result, the number of events in Vietnam was 217, totaling $ 23 million. “Beaucre Merchading”, a fashion clothing company with brands like “on&on” and “olive de olive”, has achieved $ 44.2 million in export counseling and “Lab, 12” has achieved $ 1,550,000 in export counseling and made a $ 16 thousand contract on the spot which includes supplying beauty masks to the local spa.

 

"I didn't know how to export our products overseas, but I gained confidence through consulting with several local buyers in this event.", said CEO Kim Jung-wook of “Lab, 12”.

 

" The response of local buyers who participated in the consultation were very good.", said Kim Tae-seo, the head of VGS Shop, a Vietnam Home Shopping joint company, and said “GS Home Shopping will completely support small and medium companies to enter Vietnam Home Shopping”.

 

GS Home Shopping, meanwhile, is actively supporting the expansion of Korean small and medium companies by utilizing overseas home shopping networks, which include India, Thailand, Vietnam, China, Indonesia, Malaysia and Russia. In 2012, GS Home Shopping won the $ 5 million Export Tower from the Korea International Trade Association, and in the following year, it was awarded the $ 10 million Export Tower.