How do I export to Vietnam?
A fast-growing Southeast Asian market. A strategic export guide for leveraging the Korea-Vietnam FTA and Vietnam's manufacturing boom.
Key Summary
Vietnam is one of Southeast Asia's fastest-growing economies, with GDP growth averaging 6–7% annually. The population of approximately 100 million is predominantly young, with a median age of around 30. Korea is Vietnam's largest import source country, and bilateral trade exceeded $78 billion in 2023. Under the Korea-Vietnam FTA (KVFTA, effective December 2015), tariffs on most Korean industrial goods are being phased out. Vietnam has become a major global manufacturing hub with massive FDI inflows from Korea, Japan, and the US, driving strong B2B demand for industrial parts, materials, and machinery. The urban consumer market in Ho Chi Minh City and Hanoi is growing rapidly, with increasing demand for Korean beauty products, food, and lifestyle goods.
Market Overview
Vietnam is one of Southeast Asia's fastest-growing economies, with GDP growth averaging 6–7% annually. The population of approximately 100 million is predominantly young, with a median age of around 30. Korea is Vietnam's largest import source country, and bilateral trade exceeded $78 billion in 2023. Under the Korea-Vietnam FTA (KVFTA, effective December 2015), tariffs on most Korean industrial goods are being phased out. Vietnam has become a major global manufacturing hub with massive FDI inflows from Korea, Japan, and the US, driving strong B2B demand for industrial parts, materials, and machinery. The urban consumer market in Ho Chi Minh City and Hanoi is growing rapidly, with increasing demand for Korean beauty products, food, and lifestyle goods.
Market Characteristics
Vietnam's market is characterized by a young, urban population with rising purchasing power and a strong affinity for Korean culture (K-pop, K-drama, K-Beauty). The manufacturing sector has grown dramatically, with Vietnam becoming the assembly hub for electronics (Samsung, LG, Intel), footwear, apparel, and furniture. This manufacturing boom creates significant B2B opportunities for Korean exporters of industrial components, raw materials, and equipment. The consumer market is highly price-sensitive in rural areas but increasingly premium in urban centers. E-commerce is growing rapidly, with platforms such as Shopee, Lazada, and TikTok Shop gaining significant market share.
Regulatory Environment
Vietnam's import regulations have become more complex in recent years. Food products must obtain Ministry of Health (MOH) or Ministry of Agriculture and Rural Development (MARD) import permits, and product registration is required for health foods. Cosmetics require a Ministry of Health license, with an increasing focus on ingredient safety. Electrical and electronic products must obtain technical standards certification from the Directorate for Standards, Metrology and Quality (STAMEQ). All products require Vietnamese-language labeling, and labels must include product name, origin, ingredients, and importer information in Vietnamese.
Business Culture
Vietnamese business culture values respect for hierarchy and seniority, and formal greetings and titles are important in first meetings. Building personal relationships through meals and social interactions is important before business negotiations. Decision-making is often slow in larger organizations due to approval chains, but private companies can move quickly. Vietnamese counterparts may say 'yes' to avoid direct refusal, so confirming commitments in writing is important. The market is very price-sensitive, and competitive pricing is essential. Business relationships benefit from patience and consistency.
Buyer Discovery
Key trade shows in Vietnam include Vietnam Expo (Hanoi), Vietbeauty (Ho Chi Minh City), ProPak Vietnam (packaging/food), and Vietfood & Beverage. KOTRA's Hanoi and Ho Chi Minh City trade offices provide buyer-matching and market research services. For B2B industrial goods, connecting with foreign-invested enterprises (especially Korean companies like Samsung, LG, and Hyundai with factories in Vietnam) is highly effective. Vietnamese industrial parks in Binh Duong, Dong Nai, and Bac Ninh are major concentrations of manufacturing buyers. E-commerce platforms such as Shopee Vietnam, Lazada Vietnam, and Tiki are growing channels for consumer goods.
Customs & Logistics
Vietnam's main ports are Ho Chi Minh City (Cat Lai terminal), Hai Phong (northern Vietnam), and Da Nang (central). Shipping from Busan to Ho Chi Minh City takes approximately 7–10 days. Vietnam's customs process involves electronic declaration through the VNACCS (Vietnam Automated Cargo and Port Consolidated System). Import duties and VAT (10%) are collected at customs. For KVFTA tariff claims, a Certificate of Origin Form AK or self-certification is required. Some categories of goods require specialized import permits which must be obtained before shipment.
Pricing & Payment
T/T (wire transfer) in USD is the most common payment method. Vietnamese Dong (VND) fluctuates against the USD but is managed by the State Bank of Vietnam. For smaller B2B transactions, advance payment (30–50% upfront, balance upon delivery) is standard. Larger transactions may use L/C. Vietnamese buyers are price-sensitive, so offering competitive pricing and flexible payment terms is important for building relationships. For e-commerce sales, Shopee and Lazada handle payments through their platform systems.
Marketing & Localization
Facebook is the dominant social media platform in Vietnam, followed by YouTube and TikTok. Vietnamese-language content is essential. Korean Wave content (K-pop, K-drama) is enormously popular, especially among 18–35 year olds, and linking Korean product marketing to Korean cultural content is highly effective. Vietnamese consumers respond strongly to promotional pricing, bundle deals, and flash sales on e-commerce platforms. For B2B industrial goods, technical documentation and product presentations in Vietnamese or English are expected. Working with Vietnamese sales agents who have local language skills and industry contacts is strongly recommended.
FTA & Tariffs
The Korea-Vietnam FTA (KVFTA, effective December 2015) provides phased tariff reductions on most Korean industrial goods exported to Vietnam. Additionally, the RCEP (Regional Comprehensive Economic Partnership, effective January 2022) provides additional tariff reduction opportunities. To claim KVFTA benefits, a Certificate of Origin Form AK is required. Many manufactured goods such as electronics, machinery, and automotive parts have reached or are approaching 0% tariffs. Food and agricultural products have varying tariff schedules and may be subject to quotas. Checking the applicable tariff through the Vietnam Customs tariff schedule for your specific HS code is essential.
Business Culture
Buyer Types
Korean-Invested Manufacturing Companies in Vietnam
Korean conglomerates and their supplier networks operating factories in Vietnam (Samsung, LG, Hyundai, POSCO, etc.) represent the largest concentration of Korean-connected B2B buyers. These companies need Korean-made components, materials, and equipment delivered to their Vietnamese factories. They prioritize quality certifications, delivery reliability, and Korean-language communication capability.
Vietnamese Industrial Parts Importers
Local Vietnamese companies that import industrial components, machinery, and raw materials for use in manufacturing. They are highly price-sensitive and focus on competitive pricing with adequate quality. Trade show contacts and KOTRA buyer matching are effective first approaches.
Consumer Goods Distributors
Vietnamese importers and distributors specializing in Korean consumer goods (food, cosmetics, household products) for the domestic market. They have distribution networks including supermarkets (Vinmart, AEON), convenience stores, and specialty retailers. They require Vietnam regulatory compliance (MOH registration) and Vietnamese-language labeling.
E-Commerce Platform Sellers
Shopee Vietnam, Lazada Vietnam, and Tiki sellers sourcing Korean products for online resale. Vietnam's e-commerce market is growing at 20%+ annually, and Korean beauty products and food have significant demand. These buyers prioritize small MOQ, fast supply, and marketing support content.
Logistics Information
Lead Time
Sea: 7–10 days (Busan–Ho Chi Minh City), Air: 2–3 days
Est. Shipping Cost
Sea: $900–1,800/20ft, Air: $3–6/kg
Payment Methods
FTA/Trade Agreements
Frequently Asked Questions
A. To claim Korea-Vietnam FTA (KVFTA) tariff benefits when exporting to Vietnam, you must attach a Certificate of Origin Form AK issued by the Korea Chamber of Commerce and Industry or Korea Customs. Alternatively, approved exporters can use self-certification. The goods must meet the applicable rules of origin under the KVFTA (typically a tariff heading change or regional value content requirement). The certificate must be presented to Vietnamese customs at the time of import declaration. Without the certificate, the regular MFN tariff rate applies.
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