Hwaseong City "Vietnam Hybrid Market Development Team Achieves $5.7 Million Consultation Performance"

Increasing Contract Success Probability by Combining Online and Offline Methods

Hwaseong City in Gyeonggi Province achieved $5.7 million (approximately 7.856 billion KRW) in consultation results in Vietnam through a 'hybrid' export consultation combining online and offline methods.

Hwaseong City announced on the 5th that it dispatched a market development team to Hanoi and Ho Chi Minh City, Vietnam, from the 28th of last month to the 2nd of this month, achieving these results.

Officials from companies participating in the Vietnam market development team are pledging successful market development locally. Provided by Hwaseong City

The market development team, organized by the Hwaseong City Export Support Center, introduced a method where companies within the city and buyers were selected through preliminary online matching consultations, followed by a second round where companies directly visited the site for face-to-face consultations. The city explained that this approach reduced costs and increased the likelihood of export success.

Accordingly, in the online consultations held in July, 15 companies from the Hwaseong area conducted consultations targeting 155 local buyers, resulting in $2.42 million in consultation achievements. Subsequently, based on the online consultation results, the center selected seven companies with high matching potential as dispatched companies and conducted on-site consultations over a 4-night, 6-day schedule from the 28th of last month to the 2nd of this month.

During the on-site consultations held in Hanoi and Ho Chi Minh City, consultations with 31 buyers resulted in $5.7 million in consultation achievements and the signing of three memorandums of understanding (MOUs). The export contract amount also reached $830,000.

No Ji-hoon, team leader of Aromaville Coffee, who participated in the market development team, evaluated, "By verifying buyers through online consultations and then meeting them directly on-site, we were able to confirm tangible export possibilities."

Jung Myung-geun, mayor of Hwaseong City, said, "The hybrid market development team is a project that enables local small and medium-sized enterprises to achieve actual export results," adding, "We will actively support small and medium-sized enterprises in pioneering export routes to Southeast Asia through this market development team."