S Korean firms favour Viet Nam
S Korean firms favour Viet Nam
Viet Nam was the most popular destination for South Korean enterprises expanding overseas, according to a survey released by the Korean International Trade Association (KITA).
About 49 per cent of 537 Korean firms said they had plans to develop their business in Viet Nam this year.
Indonesian, Thai and Malaysian firms showed interest in descending order (37.4 per cent, 30 per cent, 28.5 per cent). Turkish firms showed 20.7 per cent interest.
The firms surveyed were asked to select from 32 countries showing annual growth of more than 3 per cent in the past three years.
More than 53 per cent of South Korean companies polled said they were aiming for the local consumer market in the target countries. Another 24.8 per cent said they would use the countries as a production base, and 22.2 per cent said the expansion was to utilise the merits of existing free trade agreements, according to the survey.
