Korean culture flourishes in Vietnam
According to the Korea Economic Research Institute, in the five years since 2017, the Hallyu cultural wave spreading globally has contributed to creating economic efficiency of up to 28.4 billion USD, of which 23.4 billion USD came from the consumer goods sector and nearly 5 billion USD came from the cultural content sector.
According to a study recently published by the Korean Cultural Industry Exchange Fund, Vietnam ranks 4th in terms of liking this wave. The influence of Korean Wave on Vietnamese youth is clearly shown in the fact that they are a large force that helps Korean dramas become hot hits on Netflix; K-Pop "storms" music charts around the world and Korean makeup and fashion styles also become trends. The most typical example of this consumption power is the "willingness to spend" of Vietnamese audiences for two shows of the girl band BlackPink in Hanoi in August 2023.
With the trend of liking Korean culture of the new consumer class in Vietnam, retailers and service businesses have quickly "caught the wave" of tastes to bring products and services to meet market demand. Especially when this class of customers always wants to have a more attractive shopping experience at modern, large-scale and well-planned shopping malls and shopping complexes.
Golden opportunity from the huge flow of customers who love to experience Korean culture
In fact, in Hanoi, some Korean-style neighborhoods have appeared and attracted a large number of tourists, but these models only stop at the food and beverage industry. Although Korean brands are booming in the retail market, from cosmetics, food, beverages, bars, pubs, supermarkets, cinemas, fast food chains, etc., most of the business premises are spontaneous complexes in areas with Korean experts and businesses. There are not many models that are systematically planned, professionally planned on a large scale, creating a chain of experiences that meet all needs and all customer segments.
To fill this gap, in 2024, people in Hanoi and the northern provinces will be able to experience Korean culture in the K-Town subdivision at Mega Grand World in the East of Hanoi - the most unique and largest shopping, entertainment and recreation complex in the Ocean City Destination City.
Mega Grand World complex is built according to the shoppertainment trend that is leading the world retail industry. At shoppertainment-style shopping complexes, brands have the advantage of space, premises, and planning to freely display, create, and deploy unique, novel, and trendy services to satisfy all customer needs, which small retail shopping areas cannot meet.
K-Town will be planned according to the formula of "experience leading experience", including service, culinary, and shopping groups distributed according to the "golden" ratio, prioritizing trendy and popular Korean brands, creating a chain of entertainment, shopping, and culinary experiences with a dynamic Asian spirit, meeting the needs of all family members of all ages. This model is also especially attractive to young people, especially the Gen Z generation, who always appreciate new, unique, and trendy services.
Along with that, Vingroup's strong investment in Mega Grand World East of Hanoi in particular and Ocean City, along with the ability to easily connect from here to the city center, Noi Bai airport and neighboring provinces, etc., has been bringing golden opportunities for brands and investors who want to welcome the huge and continuous flow of visitors to this largest and most classy entertainment, shopping and recreation complex in the North.
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