'Park fever' creates K-food, skincare boom in Vietnam

By Kang Aa-young

To understand how influential Park Hang-seo is in Vietnam, one need only look at how Korean companies have performed there after the Southeast Asian country clinched the 2018 AFF Suzuki Cup title earlier this week, under the guidance of South Korean coach Park Hang-seo.

Korean food and skincare products have enjoyed a boom in Vietnam amid the football boom triggered by “Park Hang-seo fever.”

A three-day sales promotion event hosted by Korea Trade-Investment Promotion Agency (KOTRA) has attracted more than 15,000 visitors.

After the Suzuki Cup finals, on-site sales easily exceeded 23 million won ($20,360), according to KOTRA.

“The day before the last, sales had reached 15 million won, but the total soared to 25 million at the point when the national team won the Suzuki Cup,” a KOTRA official said.

“Online sales will continue until the end of December and total revenue is expected to reach 200 million won ($177,000) by the end of the year.”

Cam Tuoi, a Vietnamese beauty YouTube creator dedicated to making makeup tryout videos, enjoyed a sudden boost in subscribers of her YouTube channel, after she uploaded a video featuring Korean products.

More than 100,000 people subscribed to her channel in just a few weeks after she uploaded the video.

KOTRA has appointed Cam and 13 other social media influencers as supporters of Korean products to promote the sales event through social media.

According to KOTRA, tariff cuts made recently after the implementation of the Korea-Vietnam free trade agreement also have had a positive impact on the sale of Korean products.

Vietnam, with a median age of 30.9 years and population of 100 million, has over 60 percent of its population using smartphones and 52 million active on Facebook.

Korean food also benefited from Park fever. The Korean convenience store GS25 said its revenue after Vietnam advanced to the semifinals of the Suzuki Cup rose 12.1 percent.

Among others, GS25's “Idol” sandwich has benefited a lot from the popularity of the South Korean coach. Since it was released in Vietnam on Dec. 14, the sandwich topped food sales at the convenience store. GS25 didn't mention how many were sold.

In Korea, the Idol sandwich has sold over 7 million since it was introduced in September.

Sales of Korean snacks, beer and beverages also rose after Vietnam won the Suzuki Cup.

“The Vietnamese consumer market is growing as the country maintains a nearly seven percent annual economic growth,” said Kim Doo-young, executive vice president for innovative growth at KOTRA. “The market calls on us to create both online and offline strategies to meet local needs.”

He pointed out Vietnamese consumers' tendency to visit offline stores first before buying a product online.