May 27, 2019 | 15:06 (GMT+7)
RoK company invests USD 1.2 million in start-up firm in Vietnam
GS Home Shopping, a leading shopping channel operator in the Republic of Korea, announced on May 26 that it has invested USD 1.2 million in Luxstay, a Vietnamese home-sharing platform.
This is the company’s second investment in an e-commerce start-up based in Vietnam.
Earlier in January, it poured USD 3 million into the e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.
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GS Home Shopping invests USD 1.2 million in Luxstay |
Vietnam is considered one of the fastest-growing countries in the tourism industry, and a favorite destination for Korean tourists thanks to its low costs and diverse tourist attractions.
The number of Korean visitors to Vietnam rose by 24 percent in the first three months of this year, exceeding the 1 million mark for the first time in the period.
The figure is expected to surpass 4 million for the whole year. After topping the 1 million level for the first time in 2015, the annual number of Korean tourists to Vietnam rose to 2.42 million in 2017 and 3.44 million last year.
Source: VNA