Busan trade mission to Vietnam secures $8.06M in export contracts

The Busan Economic Promotion Agency dispatched the "2026 Vietnam Trade Mission" to Hanoi and Ho Chi Minh City from July 6 to 10, supporting export consultations and network-building on the ground, the agency announced Tuesday.

The mission was organized to give Busan-based small and venture companies struggling to expand overseas retail channels an opportunity to enter the Vietnamese market. Funding came from the Busan Economy Activation Fund (BEF), and eligibility was limited to Busan-based firms with annual exports of $30 million or less in the previous year.

BEF is a joint fund established by nine Busan public institutions to support the local economy: the Korea Technology Finance Corporation, Busan Urban Corporation, Busan Port Authority, Korea Housing and Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation and Korea Ocean Business Corporation.

The agency provided comprehensive support for the export consultation sessions, including local buyer recruitment and interpretation services. Ten Busan small and venture companies took part in 132 consultations and signed export contracts totaling $8.065 million.

This year's participating companies covered a wide range of product categories — food, software, cosmetics, toys, infant products, sporting goods, massage devices, walking canes and disinfection equipment — securing a foothold for entry into the Vietnamese market.

Participating firms confirmed their products' competitiveness and local market viability through one-on-one consultations with pre-matched local buyers, and signed 18 MOUs to lay the groundwork for sustained exports.

During the mission, the agency also signed separate MOUs with the Vietnam Agriculture and Pesticide Association (VIPA) and the Information, Connection and Innovation Center under the Vietnam Creativity and Innovation Association (VLCA), agreeing to cooperate on economic information exchange, business matching, collaboration in promising industries and demand identification.

"Vietnam is a key strategic market for diversifying Busan companies' exports and expanding into ASEAN," said Hwang Moon-seong, head of the agency's global project promotion division. "We will continue to provide field-centered support so that local companies can create tangible export opportunities overseas, backed by the Busan Economy Activation Fund."