Vietnam becomes attractive powder milk market for South Korea
Vietnam is becoming a more and more attractive power milk market for South Korea and the export revenue for Korean firms could exceed $20 million in 2023, South Korean media reported.
South Korea exported power milk worth $19.54 million to Vietnam in 2021, a 2.5 increase from $7.58 million in 2016, AJU Business Daily quoted the South Korean customs authority as saying.
This growth took place amid tensions between China and South Korea related to the U.S. deployment of the Terminal High Altitude Area Defense system (THAAD) in South Korea. Due to the tensions, South Korea’s exports of power milk to China fell 30% from 2016-2017, the newspaper wrote.
Hikid is a popular South Korean milk brand in Vietnam. Photo courtesy of bibomart.com.vn.
AJU Business Daily quoted a business insider as reporting that Vietnam’s power milk market is estimated at KRW1.4 trillion ($1.12 billion), while Vietnamese parents like South Korean products.
Vietnam’s population grew by 955,500 in 2022, or 0.97%, to 99.46 million. The country's dairy product output increased 10.2% to 345,400 tons in 2022, according to the General Statistics Office (GSO).
- Related News
- Read More
Vietnam’s first rice husk-fueled biomass power plant inaugurated
A biomass power plant using rice husk and woodchips as fuel was inaugurated on Friday in Vietnam's Mekong Delta province of Hau Giang.
Southeast Asia - Fri, April 25, 2025 | 11:13 pm GMT+7
Bestway International launches $300 mln plant in southern Vietnam
Chinese group Bestway International has launched a $300 million investment project in Vietnam's southern city of Can Tho, signaling a significant boost in large-scale foreign investment for the Mekong Delta region.
Southeast Asia - Fri, April 25, 2025 | 11:10 pm GMT+7
Indonesia accelerates tariff talks with US
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto has met with U.S. Secretary of the Treasury Scott Bessent to promote tariff talks with the U.S.
Southeast Asia - Fri, April 25, 2025 | 11:06 pm GMT+7
Swedish giant Syre strikes deal for $1 bln circular textile project in central Vietnam
Binh Dinh province and Sweden’s leading textile manufacturer Syre on Friday signed an MoU for a $1 billion polyester fabric recycling complex which aims to position Vietnam as the world’s first high-tech, circular textile hub.
Industries - Fri, April 25, 2025 | 10:53 pm GMT+7
Vietnam's major insurer PVI aims for billion-dollar revenue in 2025
PVI Insurance Corporation is endeavoring to achieve a billion-dollar revenue by end-2025, a significant milestone in its 30th anniversary year which will reaffirm its leading position in Vietnam’s non-life insurance market.
Companies - Fri, April 25, 2025 | 8:15 pm GMT+7
'Pangasius queen' Vinh Hoan optimistic about US market despite cautious business outlook
Leaders of Vinh Hoan Corporation, one of Vietnam’s top pangasius exporters, said they remain optimistic about the U.S. market despite cautious business scenarios.
Companies - Fri, April 25, 2025 | 4:40 pm GMT+7
Vietnam the market to focus on, instead of boosting export: Sabeco CEO
Vietnam, among the countries with largest beer consumption, is the market that Sabeco focuses on, instead of boosting exports, said its CEO Lester Tan Teck Chuan.
Companies - Fri, April 25, 2025 | 4:00 pm GMT+7
Thailand's data center services market to expand 8% in 2025
Thailand's data center services market is projected to grow by 8% this year to THB12.7 billion ($379.16 million), driven by rising demand for greater processing power to support companies' adoption of AI and enlarged data storage.
Southeast Asia - Fri, April 25, 2025 | 12:07 pm GMT+7
Vietnam's oil rig demand set to soar with new projects
Vietnam is projected to see a sharp rise in demand for oil and gas drilling rigs in 2025, underpinned by the accelerated implementation of a number of large-scale energy projects, including Dai Hung Phase 3, Su Tu Trang Phase 2B, and Block B - O Mon.
Southeast Asia - Fri, April 25, 2025 | 12:01 pm GMT+7
EU seeks to strengthen partnership with Vietnam in renewable energy, aerospace, telecom
The EU is looking to enhance cooperation with Vietnam across a range of sectors, including infrastructure, transportation, renewable energy, aerospace, telecommunications, and green transformation.
Economy - Fri, April 25, 2025 | 11:34 am GMT+7
Central Vietnam province to scrap 5 wind power projects over delays
Quang Tri province authorities say they will abolish five wind power projects, starting from May this year, due to their long delays.
Energy - Fri, April 25, 2025 | 11:04 am GMT+7
Vietnamese enterprises see growing agri export opportunities in Chile
Vietnamese businesses have a growing opportunity to expand their presence in Chile, particularly in the processing and export of agricultural products, thanks to free trade agreements and tax incentives.
Economy - Fri, April 25, 2025 | 9:50 am GMT+7
S Korea's SK Group keen on LNG power project in central Vietnam province Ninh Thuan
SK Group is eyeing to develop an LNG-fired power plant in Ninh Thuan province, home to Vietnam's future nuclear power plants, following its similar proposals in Nghe An and Thanh Hoa, all in central Vietnam.
Energy - Fri, April 25, 2025 | 9:24 am GMT+7
The Investor to hold seminar on solutions to develop domestic market today
The Investor and its Vietnamese-language sister publication www.nhadautu.vn will organize a seminar titled "Solutions to strengthen and develop the domestic market" on Friday in Hanoi.
Economy - Fri, April 25, 2025 | 7:06 am GMT+7
KRX new trading system operation to have moderate impact on Vietnam stock market: expert
The official operation of the new stock trading system KRX on May 5 will have a moderate impact on the Vietnamese stock market, said Nguyen Viet Duc, digital business director at VPBank Securities JSC (VPBankS).
Finance - Thu, April 24, 2025 | 10:45 pm GMT+7
Dr. Nguyen Anh Tuan elected chairman of VAFIE
Dr. Nguyen Anh Tuan, standing vice chairman of the Vietnam's Association of Foreign Invested Enterprises (VAFIE), was elected as chairman on Thursday, for the 2025-2030 term.
Economy - Thu, April 24, 2025 | 7:15 pm GMT+7
