Amkor increases Vietnam investment to $1.6 bln, production to start next year 2025
Bac Ninh province's government has granted an investment registration certificate to the South Korean subsidiary of U.S.-headquartered semiconductor giant Amkor Technology Inc. to increase its investment to $1.6 billion.
The northern Vietnam province granted the certificate for an additional investment of $1.07 billion at the Vietnam-South Korea business forum in Seoul Monday.
The forum was held under the auspices of Vietnamese Prime Minister Pham Minh Chinh’s June 30-July 3 visit to South Korea.
Bac Ninh Vice Chairman Vuong Quoc Tuan (front, right) grants an investment registration certificate to Amkor in the presence of PM Pham Minh Chinh (third left, back) in Seoul on July 1, 2024. Photo courtesy of Bac Ninh news portal.
Amkor’s factory at the province’s Phong 2C industrial park will have an annual output of 3.6 billion items. The facility is set to start trial operations in the first and second quarter of 2025, enter official operation in Q3/2025, and reach maximum capacity in Q4/2035.
Bac Ninh authorities and Korea Land and Housing Corporation (LH) signed a memorandum of understanding on developing an urban area in the southeastern part of Bac Ninh town. The two sides will cooperate to research deployment of the project, covering investment plan, operation plan and other tasks.
Registered foreign direct investment in Vietnam reached $15.2 billion in the year to June 20, up 13% year-on-year, the Ministry of Planning and Investment reported.
Bac Ninh province led the pack with with $2.58 billion, triple year-on-year. The Ministry of Planning and Investment attributed Bac Ninh's success to a $1.07-billion project invested by Amkor.
Amkor held a grand opening for its factory in Bac Ninh province in October 2023. The factory, covering 57 acres (23.1 hectares) at the Yen Phong 2C Industrial Park, offers turnkey solutions from design to electrical testing, beginning with Advanced System in Package (SiP) and memory production.
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