“We`re going to achieve significant
growth in the Vietnamese market this year.
We are confident that this will triple our overall sales from the previous year."
"We will achieve 40 billion won in sales this year by increasing the proportion of cosmetics exports to major products such as Cosmeceutical (Compound of cosmetics and medicine)," said Kim Tae Gon, CEO of Pion-Tech, a Nano-bio cosmetics company, in an interview with Aju Economy on the 30th. The company plans to expand sales around China, Mongolia, Singapore and Southeast Asian markets. Its strategy is to increase sales by focusing on Vietnam.
CEO Kim who established a subsidiary in Hanoi, Vietnam last year, signed a supply contract with DMC, Vietnam's largest beauty product distributor, laying the foundation for securing about 10 billion won in annual sales in Southeast Asia alone. Considering characteristics of industries that are sensitive to trends, products are produced in Korea, but 'packaging' is left to local countries.
“Cosmeceutical cosmetics are becoming more popular in Vietnam”, Kim said. “We are making more than 1.5 billion won in monthly sales," Also, "The Vietnamese market will account for a large portion."