Korean food exports face tough battle in Vietnam
Korean food products have drawn global attention, with certain product labels like Buldak sparking a rare consumer frenzy and online fandom movement transcending nations and borders. From instant noodles to snacks, baked goods, fruit and manufactured seafood, Korean food products have become strategic items for retailers outside Korea. K-Market in Vietnam, a network of 150 directly managed…
The Korean food industry is experiencing a tough challenge in Vietnam's retail market. Renowned Korean food products, such as Buldak, have captured the attention and loyalty of consumers worldwide. Beyond instant noodles, snacks, baked goods, fruit, and processed seafood, Korean food items have become sought-after items for retailers outside Korea.
K-Market, a network of 150 independently managed medium-sized supermarkets in Vietnam, specializes in Korean foods and other Korean products. Additionally, the largest Korean-run retailer in the country operates a logistics center in Ho Chi Minh City and Hanoi, ensuring product distribution reaches stores in the country's largest economic centers in both the north and south.
Despite the success of K-Market over the past 20 years, Chairman Ko Sang-goo remains apprehensive about the company's future. As the retail business landscape shifts, Ko faces a daunting battle against Japanese and Chinese brands expanding their presence and increasing their market shares in Vietnam. Ko likens himself to a Korean soldier defending his nation against global competitors.
The chairman of K-Market fears that Korean products might not withstand the growing competition from foreign brands in Vietnam's retail sector.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Korean food exports face tough battle in Vietnam koreatimes.co.kr
