According to Lee Young Man, President of the Korean footwear association in Vietnam, more than 100 Korean businesses are operating in the field in Vietnam, with nearly 80 percent of them active in the southern province of Binh Duong.

A footwear production chain in Vietnam

The Korean footwear association in Vietnam has organized activities to enable businesses to exchange experience in order to increase competitiveness, he said.

At present, the association has 90 members and most of them are performing well. It aims to develop the membership to 120 this year.

According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), Vietnam exported around USD 14.67 billion worth of footwear last year, ranking second in the world.

In the first four months of this year, the industry’s exports were worth USD 4.5 billion, and the full-year target is USD 20 billion.

The RoK is the biggest foreign investor in Vietnam with over 6,760 valid projects which have total registered capital of more than USD 59 billion.

Trade between Vietnam and the RoK reached USD 61.5 billion in 2017, up 41 percent year on year, including Vietnam’s exports of USD 14.8 billion, a rise of 30 percent over 2016.

Source: VNA