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 KRW2.6 billion (over US$2 million) 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 US$34.26 billion with Vietnam in 2022, making Vietnam its largest trade partner. Last year, the RoK’s export turnover to Vietnam totaled US$60.98 billion, while it spent US$26.72 billion on importing goods from the Southeast Asian nation.