Nonsan city in Chungcheongnam province of the Republic of Korea (RoK) on February 20 announces the opening of its trade office in Ho Chi Minh City. (Photo: Yonhap)

The office, put into operation on February 18, aims to provide administrative and financial support to import-export activities for businesses, along with information about the local market situation.

It is headed by Kim Jung-min, General Director of JM Group, a distributor of Korean products such as Cheong Kwan Jang ginseng and Korea Eundan vitamin supplement capsules.

Through the JM Group, Nonsan plans to export 2.6 billion KRW (over 2 million USD) worth of agricultural products to Vietnam in the next three years.

Nonsan Mayor Baek Sung-hyeon said that the launch of the trade office in Vietnam, one of the important trade partners of the RoK in Southeast Asia, is expected to open the way for Nonsan’s businesses and agricultural products to the world.

According to the Rok’s Ministry of Trade, Industry and Energy, the RoK posted a trade surplus of 34.26 billion USD with Vietnam in 2022, making Vietnam its largest trade partner. Last year, the RoK’s export turnover to Vietnam totaled 60.98 billion USD, while it spent 26.72 billion USD on importing goods from the Southeast Asian nation.

Source: VNA