Delegates at the opening ceremony of the ASEAN Trade Fair 2025 in Korea. (Source: AKC)

Attending the opening ceremony were Kim Jae-shin, Secretary-General of the ASEAN-Korea Centre (AKC), Wong Kai Jiun, Singapore's Ambassador to RoK and Chairman of the ASEAN Committee in Seoul, along with ambassadors and representatives from ASEAN diplomatic missions in Korea. Trade Counselor Pham Khac Tuyen represented the Vietnamese Embassy in Seoul at the event.

Reaffirming ASEAN-Korea Partnership

In his opening remarks, AKC Secretary-General Kim Jae-shin emphasized that the ASEAN Trade Fair 2025 is part of ASEAN Week 2025, aimed at celebrating solidarity, cooperation, and reaffirming the Comprehensive Strategic Partnership between ASEAN and RoK.

According to him, in the context of global economic instability, ASEAN countries actively seeking business opportunities in the Korean market demonstrates a proactive and timely approach.

AKC Secretary-General Kim Jae-shin speaking at the opening ceremony. (Source: AKC)

RoK and ASEAN maintain a strong economic partnership. In 2024, RoK's total trade with ASEAN reached $192.8 billion, with the food and beverage (F&B) sector standing out as one of the most dynamic areas for future growth. In 2024, the ASEAN F&B market was valued at over $670 billion and is expected to reach approximately $900 billion by 2028, reflecting an impressive annual growth rate of about 7%.

According to the Secretary-General, the food industry is a major driver of the ASEAN economy, accounting for about 17% of the bloc's total GDP.

Mr. Kim Jae-shin assessed that the ASEAN Trade Fair serves as a bridge, facilitating ASEAN F&B businesses to access Korean consumers and buyers through business-to-business (B2B) and business-to-consumer (B2C) collaborations. Additionally, the fair provides a valuable platform for Vietnamese and Korean businesses to explore market trends, gather customer insights, and establish initial steps towards long-term business partnerships.

“I hope that the 2025 Trade Fair will act as a stepping stone for new cooperation between ASEAN and RoK, while also inspiring Korean consumers to explore the rich flavors of ASEAN cuisine,” emphasized the AKC Secretary-General.

Singapore's Ambassador to Korea Wong Kai Jiun – Chairman of the ASEAN Committee in Seoul speaking at the opening ceremony.

For his part, Singapore's Ambassador to Korea Wong Kai Jiun affirmed that ASEAN-RoK relations are thriving across various sectors, from trade-investment, tourism-culture to information-communication. In 2024, ASEAN was RoK's third-largest trading partner; conversely, RoK was ASEAN's fifth-largest trading partner. Bilateral trade in goods exceeded $200 billion, up 5.9% compared to 2023.

The Ambassador highly appreciated the role of the ASEAN Trade Fair – an event maintained by AKC since 2014 – in supporting businesses from both sides to enhance connectivity. The fair is a positive development in ASEAN-RoK relations, further boosting ASEAN-RoK economic cooperation and bringing the people of both sides closer together. This year, more than 70 ASEAN F&B businesses are participating in the fair, aiming to expand market access in Korea through B2B and B2C activities.

Vietnamese Enterprises: Proactive Strategies, Strengthening Presence in Korea

In an interview with World & Vietnam Report, Trade Counselor Pham Khac Tuyen stated that the ASEAN Trade Fair in Korea is an opportunity to promote trade, bringing ASEAN's strong products, including those from Vietnam, deeper into the local market.

AKC Secretary-General Kim Jae-shin (center) and Vietnam's Trade Counselor in Korea Pham Khac Tuyen visit a booth displaying Vietnamese and Korean products. (Photo: Minh Ha)

According to him, Vietnam has always proactively chosen strategies to introduce products to the Korean market. Notably, in the past five years, Vietnamese products like coffee, crackers, etc., have become increasingly popular among Korean consumers. Previously, Vietnamese goods mainly appeared through major Korean brands or as imported raw materials, but now Vietnamese-branded products are increasingly visible on shelves, with significantly improved packaging and quality.

The Korean F&B market alone is about $200 billion in size but is highly competitive, spanning many segments and demanding strict standards in taste, quality, and hygiene. Mr. Tuyen emphasized that Vietnamese businesses need to thoroughly understand Korean consumer preferences to develop suitable products and create differentiation, especially when F&B product structures within ASEAN are quite similar.

This year, at the ASEAN Trade Fair 2025, Vietnam participates with 11 booths – the largest number among ASEAN countries – demonstrating preparation and determination to tap into the Korean market.

Da Nang: A highlight in Trade Promotion in RoK

Ms. Do Thi Quynh Tram, Deputy Director of Da Nang Department of Industry and Trade, stated that the department has actively supported businesses in connecting trade with Korean partners. (Photo: Minh Ha)

Among the Vietnamese businesses participating in this exhibition are many from Da Nang. Ms. Do Thi Quynh Tram, Deputy Director of Da Nang Department of Industry and Trade, stated that the department has actively supported businesses in connecting trade with Korean partners.

On November 12 alone, Vietnamese and Korean businesses signed three contracts with a total value of nearly 3 billion VND. During the fair, businesses continue to have meetings and expect to sign more contracts, opening up a broader market for Da Nang enterprises.

In response to a question from The World & Vietnam Report about policy proposals to support Vietnamese businesses in accessing the Korean market, Ms. Tram suggested that Korea – especially Seoul with over 10 million residents – is a very potential market for apparel, seafood, food products, and handicrafts. However, most Vietnamese businesses are small and medium-sized, requiring support from the host country, such as assistance in transportation, promotion, free participation in fairs and seminars, as well as support for organizing B2B and B2C activities through the Ministry of Commerce, Trade Promotion Agency, and associations.

She emphasized that timely updates on the Korean market – from standards, technical specifications to consumer preferences – are crucial for businesses to improve and compete.

The ASEAN Trade Fair, organized annually by AKC since 2014, attracts over 70 ASEAN F&B businesses this year, continuing to serve as a foundation for promoting economic cooperation and enhancing the presence of ASEAN products in the Korean market.

Vietnam's Trade Counselor in Korea Pham Khac Tuyen and Ms. Do Thi Quynh Tram at a Vietnamese business booth at the fair. (Photo: Minh Ha)

A booth of a Vietnamese business participating in the fair. (Photo: Minh Ha)

A booth of a Vietnamese business participating in the fair. (Photo: Minh Ha)