A Study of Supply Chains of Korean Firms in Vietnam Based on Business Survey Data (2022)

As of 2021, Korean trade volume with Vietnam ranks fourth after China, the United States, and Japan, while direct investment in Vietnam ranks third, after the United States and China, and excepting the Cayman Islands and Hong Kong. Surveys on the business environment of Korean companies in Vietnam are conducted intermittently, so it is necessary to secure basic statistics on time series.For this, a business survey was conducted from August to October 2022, the second such survey of Korean businesses in Vietnam (the first having been conducted in 2021) by the Korean Institute for Industrial Economics and Trade (KIET) and the Korean Chamber of Commerce (KORCHAM) in Vietnam. In addition, KIET interviewed several Korean companies in Hanoi. This work analyzes the results of a survey on the business environment and the actual conditions faced by Korean enterprises in Vietnam. The Hanoi and Ho Chi Minh offices of the Korean Chamber of Commerce oversaw the implementation of the survey as co-organizer. KIET planned and conducted the survey together with KORCHAM in Vietnam. Written responses were collected from 326 companies.