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  • KITA Held “ASEAN Market Environment & Business Opportunity Seminar”
    2020-07-13 hit 1650

    KITA Held ASEAN Market Environment & Business Opportunity Seminar

    -    Commercial attaches from 8 ASEAN countries delivered speeches on consumer market trends in each country and outlook  -

     

    The Korea International Trade Association (Chairman: Kim Young-ju) held ASEAN Market Environment and Business Opportunity in New Normal Era Seminar in cooperation with the Korea ASEAN Center (Secretary General: Lee Hyuk) at COEX, Samseong-dong, on July 13th.

                                                         

    Commercial attaches from Embassies of 8 ASEAN countries, including Indonesia, Singapore, Thailand, and Vietnam participated in the seminar and delivered speeches on the changes in consumer sentiment and market prospects after the outbreak of COVID-19, and introduced ASEAN business opportunities and entry strategies at the ASEAN-Korea Center.

     

    Senior Executive Managing Director Shin Seung-kwan, said, As a global production base as well as an emerging consumer market, ASEAN is being spotlighted as a market for trade diversification that will lower Korea's heavy dependence on exports to the United States and China, and added, In order to promptly share ASEAN market changes with businesses in Korea, we will further strengthen public-private partnerships between regions

     

    Pham Khac Tuyen, First Secretary at the Embassy of Vietnam in Korea, said, Vietnam's gross domestic product (GDP) in the first half of this year increased by 1.8 percent compared to the same period of the previous year, avoiding negative growth during the global pandemic of COVID-19. The secretary also stated, In Vietnam, four major industries, including information and communication (IT), electronic products, electronic commerce and electronic logistics, and consumer goods, will be bullish in the future.

     

    Um Sung-pil, head of Trade and Investment Unit at the Korea-ASEA Center, said, ASEAN consumers highly value health and safety in recent years and their purchasing criteria are changing as they now pay more attention to a product’s country of origin and so on, and added, It is necessary to work on strategies to communicate with customers in accordance with the changed consumption habits by analyzing each country’s market focusing on cases.



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