Vertex Lab Partners with Vietnam DTS Foundation... "Aiming Precisely at the Vietnamese Beauty Market"

Vertex Lab, the operator of the K-beauty platform ‘Heyrebon,’ is entering the 4 trillion KRW-scale Vietnamese beauty market.

On the 12th, Vertex Lab announced that it signed a Memorandum of Understanding (MOU) with Vietnam’s DTS Foundation for Heyrebon’s entry into the Vietnamese market.

Heyrebon is a plastic surgery information platform officially launched by Vertex Lab in 2022. To address issues of existing platforms such as difficulty distinguishing between plastic surgeons and non-specialists and the indiscriminate delivery of non-expert information, Vertex Lab restricts Heyrebon to only allow plastic surgery specialists to join, thereby enhancing reliability.

Through this MOU, both parties plan to strengthen cooperation in various areas to establish Heyrebon in the Vietnamese market, including ▲ development and commercialization of locally customized programs ▲ building local networks and attracting investments ▲ establishing local customers and partners as well as discovering potential investors.

Vertex Lab plans to build a Vietnam-specific business model through local market research, marketing strategy development, and networking with local hospitals and clinics. Additionally, together with DTS Foundation, they intend to enhance the platform’s data security and transaction transparency by utilizing blockchain technology.

DTS Foundation is a subsidiary of DTS Group, which was invested in and established by FPT Group, Vietnam’s top IT company. DTS Group operates businesses specialized in telecommunications, finance, and technology investments based on its extensive network across Vietnam’s finance, culture, and education sectors. Within DTS Group, DTS Foundation is responsible for discovering promising startups, business incubating, consulting, and fundraising based on blockchain and Web3.0 technology competitiveness.

Vertex Lab plans to intensify its attack on the rapidly emerging Vietnamese beauty market through cooperation with DTS Foundation. Vietnam, known as the ‘Next China’ due to its rapid economic growth, has emerged as Korea’s third-largest trading partner after China and the United States. In particular, Vietnam’s high proportion of young population is driving rapid growth in the beauty market alongside economic development. According to the global market research firm Statista, the Vietnamese beauty and cosmetics market is expected to grow to 2.7 billion USD (approximately 3.7 trillion KRW) by 2027.

Kim Woo-bin, CEO of Vertex Lab, said, “Through cooperation with DTS Foundation, Heyrebon will be able to establish itself as a leading K-beauty and K-plastic surgery platform in the rapidly growing Vietnamese market,” adding, “We plan to achieve meaningful results by building a locally customized business model and providing services.”

The CEO of DTS Foundation stated, “We expect to create synergy in the fields of K-beauty and digital healthcare in the Vietnamese market with Vertex Lab,” and added, “We will actively support Heyrebon’s successful entry into the Vietnamese market.”