– Support consumer centered management(CCM) of Korean companies 

 in Vietnam –

The Korea Consumer Agency announced that it led and supported “Practice agreement on consumer protection in Vietnam” between the VCA* (Vietnam Competition Authority) and Korean corporations in Vietnam on May 13th at the Grand Plaza Hotel in Hanoi to strengthen economic ties between two countries and vitalize Vietnam's consumer protection.

*The VCA is a governmental agency under the Ministry of Industry and Trade, implementing fair trade and consumer protection tasks.

The Korean corporations in Vietnam ▲ SAMSUNG VINA Electronics Co., Ltd. ▲ LG Electronics Vietnam ▲ CJ Group Vietnam Regional HQ▲ NONGSHIM Co., Ltd. in Vietnam ▲ KOREA YAKULT CO., Ltd. in Vietnam ▲ DAESANG Co. in Vietnam ▲ HANKYUNG Trading Co., Ltd in Vietnam ▲ PARIS BAGUETTE VIETNAM, etc. participated in this agreement ceremony, striving to enforce Vietnam’s consumer protection.

It was the first time for the VCA to sign the agreement on consumer protection with domestic and foreign enterprises, and it expected to contribute to field activities of Korean companies in Vietnam and improvement of their images.

The president of the KCA, Dae-pyo Jung stated that signing the agreement gave an opportunity to raise the level of consumer protection in Vietnam and to the Korean corporations to make an effort for Vietnamese consumers, emphasizing on meaning of the agreement. In addition, he urged the VCA to support the participating Korean corporations to successfully take root in Vietnam, contributing to the economy of Vietnam.

The KCA and the VCA hosted the advocacy seminars on the present condition and vision of consumer protection policy of both countries on May 13th(Hanoi) and 16th(Hochiminh) in celebration of this agreement.

The KCA has passed on the advanced consumer protection system to Vietnam through promoting “VCA-KCA consulting project for revitalizing Vietnamese consumer policy”, the Official Development Assistance (ODA) program which managed by the Korea International Cooperation Agency (KOICA), and plans to continue to support the Vietnamese government so that it can implement consumer-oriented policies until the end of 2015.

Moreover, the KCA expects to contribute to enhancing country’s stature by actively aiding developing countries in need of the advanced consumer protection system, sharing relevant know-how of Korea.