WHAT HAPPENED
The GTEP project team from Hankuk University of Foreign Studies (HUFS GTEP) successfully entered the Vietnamese market, demonstrating the potential for collaboration between academic institutions and small and medium-sized enterprises in exploring new international territories. This case illustrates the effectiveness of a targeted approach to expansion, where educational programs become a bridge for commercial enterprises, providing them not only theoretical training but also practical support when entering the market. In this case, HUFS GTEP likely acted as a catalyst for a number of Korean companies, providing them with the necessary support and expertise.
HUFS GTEP's successful entry into Vietnam highlights the relevance of using partnership models to minimize risks and accelerate the process of adapting to new market conditions. Vietnam, as a dynamically developing economy in Southeast Asia, attracts foreign investors and entrepreneurs thanks to its growing middle class, young population, and increasing purchasing power. For Korean companies, this provided an opportunity to scale their business, using the GTEP platform for market research, strategy formulation, and establishing logistics chains.
This approach allows young or small companies to overcome barriers associated with a lack of experience in international markets, insufficient resources for in-depth marketing analysis, and difficulties navigating the local regulatory landscape. Participation in such programs provides access to expert knowledge, mentorship, and, no less importantly, a network of contacts that are critically important for a successful start in a new country. It is evident that HUFS GTEP's success is backed by a well-thought-out strategy that takes into account the specifics of the Vietnamese market and the needs of local consumers.
WHAT IT MEANS
For the Russian e-commerce sector, the success of the Korean HUFS GTEP initiative in Vietnam serves as an important precedent and source of inspiration. In the context of searching for new sales markets, Southeast Asia, and Vietnam in particular, represents an exceptionally promising direction. Growing GDP, rapid urbanization, and high penetration of the internet and mobile devices create fertile ground for the development of online trade. In 2025, e-commerce in Vietnam showed double-digit growth rates, and this trend continues into 2026, making the market extremely attractive for new players. Local consumers are actively embracing online shopping, and demand for a wide range of goods, from electronics to food products, is steadily increasing.
Russian entrepreneurs, especially in the consumer goods, technology, and specialized services segments, can find significant opportunities in Vietnam. However, entering an unfamiliar market always involves challenges: language barriers, differences in consumer preferences, logistical complexities, the need to adapt payment systems, and legal nuances. This is where HUFS GTEP's experience, demonstrating the effectiveness of partnership and a comprehensive approach to expansion, becomes particularly valuable.
The Vietnamese e-commerce market is characterized by high competition, especially from regional giants and Chinese platforms. Nevertheless, there are niches where Russian products and services may be in demand. These could be goods associated with high quality, unique design, or specific technologies that are not yet widely available in the Vietnamese market. For example, food products with an emphasis on eco-friendliness, specialized cosmetics, business software, or online educational platforms. The key to success is a deep understanding of the local consumer and a willingness to adapt the offering to their needs.
It is important to note that the Vietnamese government actively supports the development of the digital economy and attracts foreign investment, which creates a relatively favorable regulatory climate for market entry. However, a successful start requires not only a financial cushion but also strategic planning, readiness for long-term investments in marketing and logistics, and building trusting relationships with local partners.
VIETSMART EXPERT COMMENTARY
As a Russian entrepreneur considering Vietnam as an e-commerce market, we would focus on several key aspects, learning from HUFS GTEP's experience. First and foremost, this is the need for thorough market research and the formation of a localized strategy. One cannot simply copy successful practices from Russia or Europe. Vietnamese consumers have their own cultural characteristics, preferences, and behavioral patterns that must be taken into account when developing products, pricing, and marketing campaigns. Using local influencers and adapting content to the Vietnamese language and mentality is not just an option, but a mandatory condition for success.
The second important step would be to build a strong local team. These can be expats or, preferably, local specialists who understand the market well and have the necessary connections. HUFS GTEP's example can serve as a kind of โbridgeโ between foreign business and the local environment. For Russian companies, this could mean finding a reliable distributor, a logistics partner, or even a joint venture. It is important to consider the legal structure to ensure intellectual property protection and minimize risks.
CONCLUSIONS AND WHAT TO DO
- In-depth market and niche analysis: Conduct a comprehensive study of the Vietnamese e-commerce market in 2026. Identify unoccupied or underserved niches where Russian goods or services can offer unique value. Study the competitive environment, consumer preferences, and their purchasing behavior patterns.
- Finding local partners: Consider entering the market through joint ventures, distribution agreements, or partnerships with local e-commerce platforms. HUFS GTEP's experience shows that partnerships significantly reduce risks and accelerate adaptation. Look for companies that already have established logistics and a customer base.
- Product and marketing localization: Adapt your product or service to the cultural characteristics and preferences of Vietnamese consumers. This applies not only to language adaptation but also to design, packaging, and pricing. Develop a marketing strategy focused on local promotion channels, including social media and influencers popular in Vietnam.
- Developing a logistics strategy: Vietnam has complex geography. Develop effective and economical solutions for delivering goods across the country, possibly by collaborating with local logistics companies or using fulfillment centers. Take into account the specifics of import procedures and customs clearance.
- Studying legal and regulatory aspects: Familiarize yourself with Vietnamese legislation in the field of e-commerce, personal data protection, consumer rights, and taxation. Obtain the necessary permits and licenses. Engage lawyers specializing in international law and working in Vietnam to avoid potential problems.
Source: ์์์๊ฒฝ์ from August 1, 2026