The Korea International Trade Association has established new offices in Hanoi, Vietnam, and São Paulo, Brazil. The move is intended to support efforts to target the "Global South," which is rapidly emerging as a key alternative in the reconfiguration of global supply chains.
The association said on the 20th (local time) that it held an opening ceremony for the Hanoi office at Lotte Hotel Hanoi in Vietnam. The event was attended by Chair Yoon Jin-sik of the Korea International Trade Association, Vu Ba Phu, head of the Vietnam Trade Promotion Agency, and Consul General Jang Ho-seung of the Republic of Korea in Vietnam.
Chair Yoon said, "Korea and Vietnam are each other's top three trading partners and core partners with an annual trade volume of $86.8 billion," adding, "I hope the opening of the Hanoi office will serve as an important opportunity to translate the various needs on the ground of corporations into practical cooperation, based on the comprehensive industrial cooperation framework built by the two governments."
The Hanoi office is the association's second base in Vietnam, following the Ho Chi Minh branch. Located in the capital where administrative functions are concentrated, it is expected to serve as a key channel to effectively convey and resolve the difficulties faced by Korean corporations operating locally. It also plans to strengthen marketing support focused on the central and northern regions of Vietnam.
On the 18th, the association's São Paulo office opened its doors. Centered on Brazil, the largest economy in Latin America, the São Paulo office will cover the entire region. It plans to play a proactive role in supporting Korean corporations by enhancing market access and identifying new business opportunities.
With this, the association has established strategic overseas bases that connect Africa–Latin America–ASEAN, including the Johannesburg office that opened last month. The association said it "plans to contribute to strengthening the foundation for the global activities of our corporations, including support for entry into emerging markets and resolving difficulties."