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S Korean footwear firms to increase investment in Vietnam
23
Jul '18
S Korean footwear firms to increase investment in Vietnam
More than 100 South Korean footwear firms are operating in Vietnam, with nearly four-fifths of them active in the Bình Duong province, according to Lee Young Man, president of the Korean Footwear Association in Vietnam. Investment from South Korean footwear firms is expected to steeply rise once the European Union-Vietnam Free Trade Agreement (EVFTA) is signed.

The association now has 90 members and most of them are performing well, a top Vietnamese newspaper quoted Lee as saying.

According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), Vietnam exported around $14.67 billion worth of footwear last year, ranking second in the world.

In the first four months of this year, the industry’s exports were worth $4.5 billion, and the full-year target is $20 billion.

South Korea is the biggest foreign investor in Vietnam with over 6,760 projects with a total registered capital of more than $59 billion. (DS)

Fibre2Fashion News Desk – India


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