Promote exporting fresh and processed fruits to South Korea

According to the Ministry of Industry and Trade (MoIT), South Korea is the 3rd biggest trade partner of Vietnam. South Korea is the 4th biggest market for Vietnam’ goods, and is in the 2nd place among those markets export goods to Vietnam. The gross two ways trade turnover increase from US$ 36.5 billion in 2015 to US$ 66 billion in 2020.

For fresh fruits and processed fruits, South Korea is an important market with import turnover at around US$ 1.3 billion a year. Vietnam has many advantages and potentials to export fresh and processed fruits to South Korea, as its revenue to the market is still low.

By now, there are only 5 kinds of fresh fruits being officially exported to South Korea. They are coconut, pineapple, dragon fruit, mango and banana. The import turnover of these fruits from Vietnam is still low, in comparison to gross import turnover of each fruit.

Mrs. Vu Viet Nga from Department of Asia and Africa Market (MoIT) says, from 2019, Vietnam’s banana accounted for around 2% of the total imported banana of South Korea, with coconut is 2.6% and pineapple is 0.62%, ect.

Dragon fruit is a special exception. Vietnam is the first and only country certified to export white flesh dragon fruit to South Korea. However, the taste of South Koreans is not familiar with the fruit, so the consumption is still limited.

The Department of Asia and Africa Market says, as of the evaluation of South Korean companies and consumers, Vietnam’s fruit products have a lot of potential and room to continue expanding exportation to this market.

To expand market’s share and export to South Korea stability, Vietnam’s companies need to pay much more attention to improving the quality, design, production scale and the ability of stable supply.

By the end of July, the Department of Asia and Africa Market in collaboration with Korea Trade-Investment Promotion Agency (KOTRA) organized the event “Chain of supporting activities for Vietnam companies to boost exporting fresh and processed fruits to South Korea”.

The event was a good chance for Vietnam’s companies to look up for information about South Korea’s market and to meet and exchange with importers from South Korea.

MoIT also collaborated with KOTRA to organize a trade promotion online meeting for Vietnam’s exporters and South Korea’s importers, distributors and retailers.

In those days, the organizer help supporting the implementation of nearly 50 online trade discussions between Vietnamese fruit exporters and South Korean importers, including representatives of some distribution systems, major retailers such as Homplus, Lotte mart, Shinsegae, Ministop, etc, and and some companies owned by Vietnamese living in Korea such as VINAKA, TPS Farmers, etc.

In the coming time, MoIT will collaborate with other ministries and agencies of Vietnam and South Korea to ask the South Korean side to open the market for other fruits of Vietnam, and also enhance the trade promotions, help Vietnam’s companies approaching the South Korea’s market.