Korean footwear firms to increase investment in Vietnam

Footwear enterprises from the Republic of Korea are operating effectively in Vietnam and their investment flows to the country are expected to increase strongly once the EU-Vietnam Free Trade Agreement is signed. Vietnam exported around US$14.67 billion worth of footwear last year, ranking second in the world - Photo: VNAAccording to Lee Young Man, President of the Korean footwear association in Vietnam, more than 100 Korean businesses are operating in the field in Vietnam, with nearly 80 percent of them active in the southern province of Binh Duong. The Korean footwear association in Vietnam has organized activities to enable businesses to exchange experience in order to increase competitiveness, he said. At present, the association has 90 members and most of them are performing well. According to the Vietnam Leather, Footwear and Handbag Association, Vietnam exported around US$14.67 billion worth of footwear last year, ranking second in the world.