Peter Jung, owner of a high-end clinic specializing in treating hair loss with scalp pigmentation (SMP) in Ho Chi Minh City, did not expect that his business would be visited by so many Korean tourists despite only recently opening.
Initially, Jung's business targeted Vietnamese people living in urban areas. He hired a two-way interpreter (Korean-Vietnamese).
Many tourists from Korea come to use the service, giving Jung a different perspective on the spending habits of his compatriots.
"SMP treatments cost a lot of money, even a month's salary. The fact that people from my country travel to Vietnam and go to Korean beauty facilities shows that the level of buying/selling by Koreans abroad has reached a level where it can form an ecosystem in Southeast Asia," Jung told Nikkei Asia.
In the two Korea Towns in Ho Chi Minh City, people can find a variety of services from seeing a dentist, practicing 3D golf, trading stocks or consulting a real estate agent in Korean.
This is not the only place in Vietnam where Koreans flock to visit. Hanoi has isolated areas where only Koreans live, and smaller communities in Binh Duong and Dong Nai provinces (where foreign factories are concentrated).
According to Nikkei Asia , about 178,000 people from the land of kimchi are living and working in Vietnam. This is 60,000 more than the rest of Southeast Asia combined, data from the South Korean Foreign Ministry.
The Japan-based publication also commented that the wave of Koreans traveling to Vietnam to explore history, seek investment opportunities, and start families shows no signs of stopping.
Besides Vietnam, the US, Japan, Canada and China are the four countries with the largest number of permanent Korean residents.
Figures from the Korean Chamber of Commerce show that about 10,000 businesses in Vietnam are owned by Koreans, doubling in eight years.
They develop tennis clubs, resorts combined with golf courses... and hire local staff in a variety of professions from accountants, coaches, tutors, interior designers, acupuncturists.
Mr. Park Jongil, CEO of Woori Bank Vietnam, said the similarities in culture and tradition make Koreans feel familiar and easily adapt to life in Vietnam.
However, some differences in lifestyle between the two countries make it difficult for many Koreans to adapt, such as tolerating petty bribery, taxi drivers, and irritability.
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