DCB survey the current state of the Vietnamese design market

 

• The market survey results will be used to operate the Hanoi Design Exchange Office to support companies' entry in Busan into Vietnam.

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Design Council Busan(the president, Dr. Kang, Kyung-tae) announced that DCB will conduct a survey on the current state of the Vietnamese design market.

A survey on the Vietnamese design market, which will be used to operate the Hanoi Design Exchange Office, which was established in 2019 for Busan-based companies to enter the Vietnamese market, will be conducted on 50 Vietnamese general companies and Vietnamese design companies.

The survey items include design that you want to request to a Korean design company, the scope of the budget available for design requests, the degree of design investment compared to the amount invested in product development, the amount of design service expenses spent by Vietnamese companies, and the status of Vietnamese design companies.

Vietnam's total population is about 95 million, the 15th largest in the world, and 50 percent of the total population is a future-oriented giant consumer market with less than 30s. Also, Vietnam's business environment has been rapidly improving recently, lowering corporate tax rates and abolishing unnecessary regulations, so it is worth paying attention to the entry of leading local companies into Vietnam despite poor infrastructure and political uncertainties.

DCB is supporting promising export companies in Southeast Asia, where demand is continuously increasing due to rapid economic growth, to take part in Busan as a prominent player in the New Southern Policy, and to make it a bridgehead for Busan's development. It produced and distributed Indonesian business success guides for start-ups leaping forward for free of charge in August.

Kim Sung Hyun, the manager of Global Cooperation Task Force at DCB, said, Vietnam is now changing from a labor market to a consumer market.” and “As challenging the local market leads to a significant setback, we will provide accurate information to local companies through a survey on the Vietnamese design market's current state and support them in various ways to achieve success models.”