South Korea’s Ministry of Food and Drug Safety (MFDS) in September 2023 held a bilateral collaboration meeting with the Drug Administration of Vietnam (DAV) to support cosmetics exports to the Southeast Asian country.
Korea exports the largest quantity of cosmetic products to Vietnam in Southeast Asian countries, and Vietnam ranks as the 5th largest country in terms of volume for Korean cosmetics exports. Export volume to the Vietnamese market has seen rapid growth.
MFDS has proactively gathered feedback and challenges faced by companies Korean companies in Vietnam, receiving suggestions to ease export procedures, such as dossier requirements for the Vietnamese regulatory authority, and to establish regular meetings between MFDS and DAV. MFDS is also committed to expanding its collaboration with regulatory authorities in other countries.
Previously in June 2023, the Korea-based Pharmgen Science signed an export and distribution agreement with Medicare, a specialized healthcare distribution company based in Hanoi, Vietnam. Pharmgen has also initiated its shipments for its healthcare brand “Neomcell” for the first direct export to Vietnam. The items being exported to Vietnam this time consist of 20,000 units of Neomcell’s beauty care products. The company plans to add new items such as cosmetics to its export package by the end of 2023.
(Source: Korea.net, The Korea Economic Daily )