Introduction of KTC Vietnam Branch on Local State-Run Broadcast...First Among Domestic and International Testing and Certification Institutions
Broadcast three times on VTC program 'BEST IN KOREA' from July 10 to 11
Local interest heightened even before the official opening of the new overseas branch… Broadcast across Vietnam
▲ Business Meeting with Local Authorities Ahead of Official Opening of KTC's Vietnam Branch
Korea Testing & Research Institute (hereinafter referred to as KTC, President: Seong-Il Ahn) announced on the 10th that its new overseas branch, which is set to open in Vietnam, will be introduced on the local state-run broadcast.
This broadcast will air on the local state-run VTC channels VTC3 and VTC4 at 3 PM on the 10th and at 8 AM and 7:45 PM on the 11th local time, on the program 'BEST IN KOREA'.
The broadcast content includes an introduction to KTC and its new overseas branch, the 'Vietnam Branch', which is set to officially open in Vietnam soon.
It is the first time a state-run broadcast in Vietnam has featured a segment on the branch of a testing and certification institution, whether domestic or international. The broadcast will be aired across Vietnam.
KTC is planning to officially open an additional overseas branch in Vietnam, the center of the ASEAN region, to actively seek overseas market entry for domestic exporting companies. The new KTC overseas branch (approved by the Vietnamese government in January this year) will be located in Chamvit Tower in Trung Hoa, Hanoi’s largest bustling district.
The KTC Vietnam Branch will employ additional local staff, including one branch manager, and will perform various tasks such as:
Alleviating the burden of KC and KS inspection costs through direct local inspections
Strengthening overseas certification support by establishing collaborative networks with Vietnamese corporate institutions
Enhancing GMA (Global Market Access) services and identifying international cooperation development projects.
Special focus will be placed on strengthening testing and certification services in industries with significant growth potential in the local market, such as:
BSS (Battery Swapping System) batteries and EMC
Electric vehicles
Cosmetics and medical devices.
In Vietnam, while some domestic testing and certification institutions have entered the market, their business areas are mainly concentrated in textiles. KTC has formulated a differentiated strategy, focusing on newly emerging industries in Vietnam such as electric vehicles and medical devices, to actively support the overseas market entry of domestic exporting companies.
Vietnam is rapidly emerging as a global production hub and Korea’s second-largest export market, ranking first in accumulated foreign direct investment (FDI) and ASEAN market entry, and third in export-import trade volume with Korea.
Korea ranks first among investing countries in Vietnam in 2023 with an accumulated amount of $856 million (approximately 118.5 trillion KRW, 18.3% share, according to the Vietnam Ministry of Planning and Investment's Foreign Investment Agency).
Korea's cumulative export-import trade volume by country in 2023: China 21% ($267.5 billion, approximately 370.8 trillion KRW), USA 14.7% ($186.6 billion, approximately 258.1 trillion KRW), Vietnam 6.2% ($79.4 billion, approximately 109.8 trillion KRW), according to KOTRA.
Overseas Korean companies: Vietnam ranks first with 3,657 out of 5,762 companies (63.5%) from July to September 2022, according to KOTRA.
Vietnam's medical device market is expected to grow to $2.1 billion (approximately 2.9 trillion KRW) by 2026. Additionally, due to urban economic development plans, the end of internal combustion motorcycles by 2025, and the introduction of new regulations for emerging industries such as electric vehicles, the demand for certification is expected to increase explosively.
The KTC Vietnam Branch is scheduled to officially open in October. With this new branch, KTC’s overseas bases will increase to five locations in four countries.
KTC's current overseas operations: Two corporations in three locations (Shenzhen and Shanghai in China, and Jakarta in Indonesia), and one branch in one country (Dubai in the Middle East).
KTC President Seong-Il Ahn said, "The establishment of a base in Vietnam, a market with significant growth potential, is in its final stages to serve as a Sherpa that provides one-stop support for the export of domestic companies." He added, "Thanks to the enthusiastic response even before the official opening, it will be introduced through the state-run broadcast, and we will ensure that there are no setbacks in the schedule until the official opening."
