Ten notable South Korean information and communications technology (ICT) companies sought opportunities to cooperate with Vietnamese partners at the Korea ICT Trade Mission 2018 business meeting on September 13 in Hanoi.
The selected companies in the delegation cover various ICT and software fields and included Obenef Inc., which provides an open class solution and next-generation education management system, the Crefun Co., a developer of added IT on an e-commerce platform, Uenergy Inc., which applies ICT and software to renewable energy, and the Hogreen Air Co., which focuses on the drone market with ICT and software, among others.
Fifty-five Vietnamese enterprises attended the business meeting. According to Mr. Ji Hong Kim, Team Manager of the Software Cluster Team in the ICT Convergence Division at the Gwangju Information & Culture Industry Promotion Agency (GITCT), which co-organized the business meeting, South Korean enterprises regard Vietnam as having the most potential in ICT in the world and are eager to expand in the country. “This is the third year we have organized this business matching meeting and we expect the number of participating enterprises to increase in the years to come,” he said.
The business meeting included direct dialogue and presentations by enterprises with those expressing interest and recognizing potential cooperation opportunities. Mr. Hong Seong Ho, CEO of HoGreen Air, said the company expects to seek Vietnamese partners to open training classes on drone technologies. “In our long-term vision, we also hope our products can be launched in Vietnam or even produced here because of the potential of drones,” he added.
Vietnamese companies are keen to seek opportunities to cooperate with South Korean partners. “South Korean IT products fit quite well with Vietnamese consumers’ tastes in terms of interface design and user experience, perhaps because of the strong cultural exchanges between the two countries,” Mr. Daniel Phan, Account Manager at QSoft Vietnam, said, adding that South Korean companies seems to have more insight into Vietnam than others and understand the advantages and disadvantages of Vietnamese companies. “This create more favorable conditions to set long-term cooperation between enterprises on both sides,” he said.
The differences in business culture between South Korean and Vietnamese companies is cited as one of the greatest challenges, but company representatives and organizers believe this obstacle can gradually be resolved.
Mr. Juan Han, Assistant Manager at the Bridging Group, a global business matching company, said the meeting is important for enterprises from both countries. “Many major South Korean corporations are already in Vietnam and we have good connections here,” he said. “Vietnam is seen as a good market for South Korean companies in general. We expect to have larger meetings with major corporations in the future, contributing to the positive growth outlook in both countries.”
The Korea ICT Trade Mission 2018 in Hanoi is a part of project organized by the Jeonnam Information & Culture Industry Promotion Agency (JCIA), GITCT, and the Bridging Group for foreign market pioneers in software and ICT coming to Indonesia and Vietnam.