LG Hausys, a South Korean construction material supplier, has completed establishing its Vietnam office and has started to participate in local exhibitions devoted to construction materials as part of its full-fledged advancement into the fast-growing Southeast Asian market.
In this regard, the company announced on September 28 that it established a branch in Ho Chi Minh City early this month to target Vietnam and the surrounding regions with expanding construction projects for new cities and tourism facilities.
Accordingly, LG Hausys has secured its second branch office in Southeast Asia following one in Jakarta, Indonesia. The company also plans to focus on developing new markets in Thailand, Myanmar, Cambodia and Laos as well as Vietnam in the future.
Currently, Vietnam is expected to show the high growth rates of about 6 percent a year until 2020. In particular, Vietnam and surrounding countries, including Thailand, are considered high growth potential markets due to new cities and tourism facilities construction projects.
LG Hausys currently exports construction materials ranging from imitation marble to flooring materials and wall papers to Vietnam. The company is also planning to expand its export products to windows and doors and interior films in the future according to the rapid increase of tourism facilities construction projects, including resorts.
With the establishment of the local office, LG Hausys has participated in Vietnam’s largest construction material exhibition “Vietbuild” that is held in Ho Chi Minh City from September 27 to October 1 for the first time to promote its various specialized products such as imitation marble, flooring materials, wall papers and windows and doors.
“Based on our two branches in Indonesia and Vietnam, we will aggressively promote the Southeastern market as our emerging growth market by doubling our current exports by 2020,” said Kim Kwang-jin, managing director of LG Hausys in charge of overseas marketing.