Vietnam and South Korea unite against counterfeit goods

The Ministry of Industry and Trade’s Market Surveillance Agency and the Korean Intellectual Property Office (KIPO) jointly organized a workshop titled "The Status and Solutions for Identifying Counterfeit and Intellectual Property Infringement Products from the Perspective of Korean Businesses in 2024" on November 7.

Mr. Jeong In-Sik from KIPO emphasized the strong economic and cultural ties between Vietnam and South Korea. He noted, "Vietnam is a young, dynamic country with rapid growth. Due to the influence of open exchange and the rapid development of online transactions, the Vietnamese market is witnessing an increasing number of counterfeit products bearing Korean brands."

Mr. Jeong also highlighted the negative impact of counterfeit goods on both businesses and consumers. "The use of counterfeit goods not only affects businesses but also has a negative impact on the health and safety of Vietnamese consumers due to the use of unverified products. This is not just a problem for one country but a global supply chain issue," he said.

According to statistics from the Organisation for Economic Co-operation and Development (OECD), as of 2021, counterfeit and trademark infringing sales by Korean companies reached 9.7 billion dollars, accounting for 1.5% of export value.

Mr. Jeong emphasized the need for international cooperation to effectively address this problem. This will help prevent widespread losses for Korean businesses caused by counterfeit goods and contribute to protecting the health and safety of Vietnamese consumers.

Sharing a similar sentiment, Mr. Tran Huu Linh, Director General of the Market Surveillance Agency, stated, "In recent years, the economic and trade relations between Vietnam and South Korea have developed robustly. Never before have Korean products been so widely available and popular in Vietnam as they are now."

However, Mr. Linh acknowledged the growing problem of counterfeit goods, particularly those bearing Korean brands. He emphasized the efforts of the Market Surveillance Agency in collaboration with other law enforcement agencies to tackle this issue.

The workshop aims to strengthen cooperation between Vietnamese and Korean authorities to effectively address the problem of counterfeit goods. By equipping law enforcement officers with the necessary knowledge and tools, both countries hope to protect consumers and businesses alike.