Korean entertainment industry targeting at Vietnam market

According to Le Ngoc Nhu, representative of South Korean entertainment company Mirang, his company is looking for domestic partners to co-develop its products in such a potential land like Vietnam.
Nhu said apart from small companies like Mirang, many large partners have “landed” in Vietnam. The big names that Nhu mentioned would certainly make many people startle. First is YG Entertainment the entertainment group that manages leading stars in South Korea such as Big Bang, 2NE1, PSY, Epik High, Choi Ji Woo, Black Pink, Lee Jong Suk. In the future, YGKplus will cooperate with beU Models, beU Academy.

The 2017 Korea Brand and Entertainment Expo (KBEE 2017) took place in Ho Chi Minh City last week, bringing together more than 50 Korean entertainme

According to experts, Korean investors see development opportunities in Vietnam because the entertainment market here is still young. Their optimism comes from the fact that they see the current Vietnam market to be like Korea 15-20 years ago as the two countries’ culture has similarities. Vietnamese people now, especially the youth, have access to and obtain new trend. Vietnamese audiences are also very crowded and many people are fans of Korea’s top stars.
Thanks to such great potential and opportunity, domestic companies have to race to compete to attract investment from Korean giants.
Kim Jae Hong, Chair cum CEO of Korea Trade-Investment Promotion Agency (KOTRA), said South Korea is currently ranking the second among countries having trade transactions with Vietnam and is the number one country among those having direct investment in Vietnam.
In particular, cultural and artistic activities contribute greatly to the expansion and enhancement of mutual understanding between the two nations. Korean businesses participating in this exhibition would like to find a suitable Vietnamese partner and at the same time it is hoped that these cooperative exchanges will become a typical model for Vietnamese and Korean businesses to jointly develop into ASEAN market.
Over the years, South Korean culture, especially entertainment, has spread sharply. Korean entertainment stars are not only famous in the country but are also known across Asia. Even, top stars are known by the world entertainment that comes to seek for cooperation.
Meanwhile, Vietnam entertainment market has recently had certain flourishment. Taking advantage of this opportunity, many Korean entertainment and communications groups, cinemas have penetrated into Vietnam market, causing it to really prosper in recent years. Partners interested in Vietnam entertainment market are seeking for many Vietnamese partners. Of course, prestigious companies will be their top priority.