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Illustrative image (Photo: Internet) |
Specifically, the RoK exported US$15.85 million worth of powdered milk to Vietnam as of the last November, or 17% of its total shipment of this product.
Data from the Korean Customs Service showed that the RoK earned US$95.86 million from the export of powdered milk during January-November. Notably, its shipment to Vietnam soared to US$19.54 million in 2021 from US$7.58 million in 2016. It is estimated that its powdered milk export revenue will surpass US$100 million this year, including over US$20 million from Vietnam for the first time.
Lotte Confectionery, which merged with Lotte Food in July 2022, is expanding its formula milk business in Vietnam with such brands as Nubone, Lotte Kid A and Grand Noble that debuted in 2019.
Thanks to increased marketing via television and social media, the company's export to Vietnam doubled in 2022 from a year ago.
Korean dairy manufacturer Namyang Dairy Products is also stepping up the export of powdered milk such as Imperial XO and maintaining its reputation in Vietnam.
