If you invest in Vietnam without understanding this, you're likely to lose everything - Author Yu Young-guk (Vietnam Rising author)

The speaker emphasizes that when investing in Vietnam, one should not simply consider Korean tastes and culture. Successful investment requires understanding Vietnamese tastes, cultural characteristics, and environmental factors. Using the example of Vietnamese preference for warm food due to hot weather, the speaker explains why Korean foods like cold noodles and shaved ice don't sell well in Vietnam. Furthermore, despite Vietnam's rapid growth, the speaker points out that the sunscreen market size is still small, attributing this to high motorcycle usage and inadequate public transportation infrastructure. Finally, the speaker advises Korean companies considering entering the Vietnamese market to carefully observe the market's changes and understand local consumer preferences.

Today's focus is on investment strategies for the Vietnamese market. We'll delve into the characteristics of the Vietnamese market and investment strategies with author of "Vietnam Rising", You Young-guk, who has been conducting business in Vietnam for 14 years.

The author began their relationship with Vietnam by working for the cosmetics company Amorepacific in a Vietnamese branch, and later served as the head of the Vietnamese distribution branch for the credit rating agency NICE Group. Currently residing in Ho Chi Minh City, Vietnam, the author provides consulting and lectures to Korean companies looking to enter the Vietnamese market.

A common mistake Korean companies make when entering the Vietnamese market is overlooking Vietnamese tastes and cultural characteristics. Vietnamese people prefer warm food due to the hot climate, and cool dishes like Korean cold noodles or shaved ice might not appeal to them. Furthermore, the Vietnamese market is more complex and unpredictable than it seems. Therefore, Korean companies need to accurately understand the characteristics of the Vietnamese market and thoroughly consider the needs of local consumers.