Home&Shopping partners with K-Market to explore opportunities in Vietnam

Home & Shopping, South Korea's home shopping channel specializing in products of small- and medium-sized enterprises (SMEs),  announced on Thursday that it has signed a memorandum of understanding (MOU) with K-Market, which operates 136 Korean food stores across Vietnam.

At the MOU signing ceremony held at the Shilla Monogram in Da Nang, Vietnam, on Wednesday, Home & Shopping and K-Market agreed to strengthen cooperation in various fields to help South Korean SMEs' advance into overseas markets and develop overseas sales channels.

A total of 70 people attended the ceremony, including Kim Ki-moon, chairman of the Korea Federation of SMEs (KBIZ), Lee Won-seop, CEO of Home & Shopping, Ko Sang-gu, chairman of K-Market, and Cho Byung-hyun, vice president of Industrial Bank of Korea (IBK).

 "As the popularity of Korean food is rapidly increasing in Vietnam, we expect K-Market to contribute greatly to revving up sales of Korean products," Chairperson Kim said.

According to the terms of the MOU, Home & Shopping will support exports of  South Korean SMEs, recommending products of leading SMEs to Vietnam and providing product information, videos, and promotional materials.

K-Market will purchase and sell the recommended items and set up a separate Home & Shopping section at major stores in Vietnam to actively promote SME products.

Write to Jong-kwan Park at pjk@hankyung.com