RoK company invests $1.2 million in start-up firm in Vietnam

GS Home Shopping, a leading shopping channel operator in the Republic of Korea, announced on May 26 that it has invested $1.2 million in Luxstay, a Vietnamese home-sharing platform.

GS Home Shopping invests $1.2 million in Luxstay (Source: businesskorea)

GS Home Shopping invests $1.2 million in Luxstay (Source: businesskorea)

This is the company’s second investment in an e-commerce start-up based in Vietnam.
Earlier in January, it poured $3 million into the e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children and homes.
Vietnam is considered one of the fastest-growing countries in the tourism industry, and a favourite destination for Korean tourists thanks to its low costs and diverse tourist attractions.
The number of Korean visitors to Vietnam rose by 24 percent in the first three months of this year, exceeding the 1 million mark for the first time in the period.
The figure is expected to surpass 4 million for the whole year. After topping the 1 million level for the first time in 2015, the annual number of Korean tourists to Vietnam rose to 2.42 million in 2017 and 3.44 million last year.

VNA

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