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

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

This is the company’s second investment in an e-commerce start-up based in Viet Nam.

Earlier in January, it poured 3 million USD into the e-commerce venture firm, Leflair, which focuses on premium-branded products for women, men, children, and homes.

Viet Nam 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 Viet Nam rose by 24% in the first 3 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 Viet Nam rose to 2.42 million in 2017 and 3.44 million last year.

(Source: VNA)