Lotte Mart said on the 8th that it wrapped up the "K-export strategy items Vietnam entry export consultation" on the 5th at Lotte Hotel World in Songpa District, Seoul, to support Korean small and midsize companies in entering the Vietnamese market.
The consultation was held as part of an overseas expansion project for small and midsize companies promoted by the Korea SMEs & Startups Distribution & Marketing Agency. Lotte Mart said it co-hosted the event to support outstanding small and midsize companies that face constraints in pioneering overseas sales channels due to difficulties in securing local distribution networks and a lack of market information.
The event brought together 20 domestic small and midsize food companies seeking to enter Vietnam and 48 buyers from Vietnamese and domestic distribution.
Vietnam Lotte Mart MDs took part directly in the consultations, conducting product reviews with local store placement in mind and providing consulting on practical export plans. Lotte Mart plans to continue supporting participants after the event by leveraging its own distribution network and MD network so that their products can enter and settle in the Vietnamese market stably.
Since entering Vietnam and Indonesia in 2008, Lotte Mart has been operating a total of 63 local stores. Based on this infrastructure, including this consultation, it has supported 120 companies over the past three years, with cumulative consultation amounts surpassing 30 billion won. Lotte Mart plans to continue preparing effective support programs to help outstanding domestic small and midsize companies successfully establish themselves in overseas markets.
A Lotte Mart/Super official said, "As a distribution corporation that has built a successful business foundation in the Vietnamese market, we intend to use the local know-how and infrastructure we have accumulated as an asset to help domestic corporations expand overseas," adding, "We will provide continuous support so that this consultation can lead to the practical placement and sales of small and midsize companies."