The technology playground in South Korea, a highly competitive and leading country in technology, provides significant opportunities for enterprises that dare to think and act.
BAP IT JSC Joins the Vietnamese Technology Business Alliance in South Korea
Opportunities for Vietnamese IT businesses in “Korea”
A recent forecast by the Korean Economic Research Institute suggests that there will be a shortage of around 47,000 individuals with bachelor’s degrees or higher in the field of science and technology in Korea from 2024 to 2028. Korea will need to rely on foreign labor to address this shortage.
In the overall IT labor market, Vietnam is recognized by Korean experts as a valuable candidate. According to South Korea’s national broadcaster SBS (reported on February 28, 2023), Vietnamese programmers rank 23rd globally with a score of 81.1, only 0.6 points behind the Korean team on a scale of 100. Additionally, the cost of hiring Vietnamese programmers is only about half compared to local hires in Korea (TopDev report). Furthermore, due to cultural similarities and geographical convenience, Vietnamese personnel are often preferred over those from other countries like India and the Philippines.
While there are abundant opportunities for Vietnamese technology companies in Korea, there are also numerous challenges. Not all Korean companies are ready to collaborate immediately with foreign developers due to concerns about cultural differences, work attitudes, maintenance, and technology security. On the Vietnamese side, there are considerations such as market research, strategy development, and brand building when entering the Korean market.
Mr. Kim Sung Hun, CEO of BAP Korea, shares insights on the opportunities for cooperation between Vietnamese and Korean IT.
Addressing these challenges, the Small and Medium Business Administration of Korea has sponsored and supported a workshop on Connecting IT Human Resources between Vietnam and Korea, organized by the alliance of five leading Vietnamese IT companies in Seoul, South Korea. At the event, Vietnamese enterprises directly introduced their services and products to Korean companies seeking technology partners.
Profiles of the pioneering companies
United by solidarity and a “win-win mindset,” the alliance, consisting of BAP IT JSC, MOR Software, Tokyo Tech Lab, DevCore, and Newwave Solutions, aims to “expand horizons” in the Korean market.
The alliance has successfully initiated regular workshops on Connecting IT Human Resources between Vietnam and Korea in March and November each year. This event has garnered interest and support from the Korean IT Association, and it is expected that the Vietnam Software and IT Services Association (VINASA) will collaborate with the alliance in future workshops.
Leveraging battle-tested experience from markets such as Japan, Hong Kong (China), the EU, MOR Software confidently showcases IT solutions and services across various IT sectors.
BAP IT JSC, honored at the Vietnam Sao Khue Awards
Boasts over 500 programmers and serves major global companies like Hitachi, KPMG, and NTT DATA. The company is renowned for high-quality work, customer satisfaction commitment, and competitive pricing. BAP IT Co., JSC has achieved various awards such as Top 10 ICT Vietnam and the Sao Khue Award for digital transformation software, excelling in services like Blockchain, Web App, IoT, Salesforce, SAP, Game, with the smartest and highest-quality solutions.
Tokyo Tech Lab, within the alliance, stands strong with a team of highly skilled and experienced engineers, offering professional working processes and aiding businesses in optimizing digital transformation at reasonable costs.
Specializing in data security, DevCore has successfully completed over 5,000 projects with nearly 1,000 clients worldwide, showcasing outstanding quality in providing IT services.
With an 11-year development journey, Newwave Solutions has left its mark in the IT industry in Japan and Vietnam, providing software development services and exploring new technologies such as Blockchain and IoT.
The conference attracted a large participation of Korean businesses.
From current challenges to future success
Vietnamese IT companies face several challenges in their initial steps of exploration. However, it is believed that these difficulties will not deter the ambitious journey of Vietnamese enterprises to “expand horizons.” We wish the Vietnamese-Korean Technology Alliance much success in conquering the Land of the Morning Calm.
The workshop on Connecting IT Human Resources between Vietnam and Korea is held annually in March and November in South Korea by the Vietnamese Korean IT Alliance. It serves as a platform for sharing collaboration experiences and connecting high-quality IT human resources.”
