CEO of S&M Media Jung Won Bae said both big and small steel businesses from the RoK are keen on entering the Vietnamese market, noting that the country’s political stability in comparison with other emerging economies has gained the confidence of RoK businesses who have begun injecting their own capital into the market.

Additionally, amid the escalating US-China trade war, many RoK steel manufacturers are planning to relocate their production facilities from China to Vietnam in order to avoid tariffs from the US.