Korean firm eyes market expansion in Laos
Vientiane Times [Business] <2017-11-21>
Asean Economic Community / Times Reporters
Gentop Co., Ltd. Of the Republic of Korea Planes to expand its market in Laos to boost trading cooperation in the Asean region. The company yesterday presented three full sets of a barrier gate control system for use in parking lots, worth more than US$12,000, to the Lao National Chamber of Commerce and Industry(LNCCI).
The equipment was presented by company Presient, Mr Hong Dae Park, to the Vice President of LNCCI, Mr Daovone Phachanthavong. The ceremony was attended by the Director of the Commercial Section of the Embassy of Republic of Korea of Laos, Mr Park Chang Eun, KOTRA representatives and Datacom.
The donation is part of cooperation between the LNCCI on behalf of the Lao government and business operators in Laos, and the company. After visiting Vientiane yesterday, Mr Hong Dae Park planned in Luang Prabang Prvince today.
Mr Hong Dae Park expects the company will try to set up an office in Vientiane in the middle of next year.
The first products it will market will be CCTV and the barrier gate parking control system. The company believes this equipment could be useful for offices and organisations. The company expanded operations to Cambodia in 2012 after danating similar equipement to the Cambodian government. It is now mainly selling CCTV systems there, he said.
After his visit to Laos he will go to Cambodia for two days. This donation will be a good start to the cooperation between Gentop Co.,Ltd. and the Lao government, said Mr Davone.
Korea products are of good quality and can be purchased in Laos at a reasonable price, he added.
There are many Korean companies investing in Laos, with one of the largest being KOLAO, which are making a major contribution to development.
Investment is helping to increase cooperation and tarde between Lao and Korean exterprises as well as the governments of both countries, Mr Davone added.
The main products manufactured by Gentop Co.,Ltd. are CCTV systems, parking and access control, LED displays, and renewable energy.