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Vietnam opens door to hard money and soft power

2015-03-02 08:28:11       source:Financial Times

March 1, 2015


"The tale of a Vietnamese transgender entrepreneur’s adventures has become the country’s biggest film hit — and sparked domestic debate about whether it plays to stereotypes. But the movie Let Hoi Decide has made waves for another reason: it is co-produced by CJ E&M, the South Korean leisure group, which has burrowed its way to the heart of the Vietnamese market.


"Korea is very strong in entertainment," says Hana Dang, a Vietnamese media executive, who also cites the proliferation of South Korean soap operas and K-Pop music. 'They are getting more internationalised."

CJ’s Vietnamese cinematic coup is part of a stream of new Japanese and South Korean investment in the country, amid goodwill that contrasts with the troubled relationship between Hanoi and Beijing. While anti-Chinese rioters ransacked hundreds of foreign companies in Vietnam last year after maritime skirmishes between the two countries, Seoul and Tokyo were quietly brandishing hard money and soft power."


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