LG Electronics to expand R&D operations in Vietnam to in-vehicle infotainment
LG Electronics is strengthening its research and development (R&D) capabilities in Vietnam and will expand its local research program into vehicle components, webOS platform, and home appliances.
In a Tuesday statement, the South Korean chaebol said its Vietnamese R&D subsidiary, namely LG Electronics Development Vietnam (LGEDV), now primarily focuses on software development and verification for LG’s In-Vehicle Infotainment (IVI) systems.
LG Electronics factory in Hai Phong city, northern Vietnam. Photo courtesy of Kinh Te & Do Thi (Economics & Urban) newspaper.
The IVI business, which covers telematics, audio video navigation (AVN) and clusters, accounts for more than 50% of all revenue generated by LG’s vehicle component solutions business. It plays a central role in LG’s strong performance in the business-to-business (B2B) mobility solutions sector, LG highlighted.
In addition to IVI systems, LGEDV has been participating in the development of the webOS platform since 2022, and has expanded its scope to include home appliances this year. Besides, this year, LGEDV has integrated core products of living, kitchen and air solutions, into its software development and verification portfolio.
LG also emphasized its human resource development in Vietnam, as its LGEDV’s research staff increased from 200 in 2019 to 1,100 at the moment, with plans to improve the figure to 1,200 by end-2024.
As of April 2024, LG’s investment in Vietnam, mostly the northern coastal city of Hai Phong, reached $8.24 billion. Starting with $1.5 billion in 2013, the investment includes $7.24 billion conducted by LG itself, featuring LG Electronics, LG Display, LG Innotek, LG CNS, LG Chemical, and LG International, and $1 billion conducted by 50 affiliates of LG.
Two Vietnamese subsidiaries of South Korea’s LG Electronics posted a combined revenue of KRW10,897.1 billion ($7.95 billion) in 2023, up 23.4% year-on-year, according to the South Korean chaebol’s latest financial statements.
- Related News
- Read More
Vietnam funds lag benchmark despite VN-Index hitting record highs
Vietnam’s benchmark VN-Index has surged to successive record highs in recent weeks, but many of the country’s largest investment funds have significantly underperformed the market, with some still posting negative returns for the year.
Finance - Sat, May 16, 2026 | 9:36 am GMT+7
Vietnam developer Hung Thinh Incons targets 3.5-fold revenue growth despite weak start to 2026
Ho Chi Minh City-headquartered Hung Thinh Incons has set a target to more than triple revenue in 2026 as the builder bets on public investment spending and a recovery in Vietnam’s construction market, despite continued pressure on its business performance.
Companies - Sat, May 16, 2026 | 8:00 am GMT+7
Vingroup to hire 20,000 workers for $35 bln Hanoi sports urban project
Vietnamese conglomerate Vingroup (HoSE: VIC) has announced the first-phase recruitment of over 20,000 workers for its massive Olympic Sports Urban Area project and other developments in Hanoi.
Companies - Fri, May 15, 2026 | 9:20 pm GMT+7
EVN eyes floating solar projects in central Vietnam
EVNGENCO1, a subsidiary of Vietnam’s state-owned utility Vietnam Electricity (EVN), is looking to invest VND4.4 trillion ($167 million) in three floating solar power projects in the central province of Lam Dong, expanding its push into renewable energy as Vietnam accelerates efforts to diversify electricity supply and cut carbon emissions.
Energy - Fri, May 15, 2026 | 3:53 pm GMT+7
Philippines' Jollibee earns over $16 mln from fried chicken, coffee chains in Vietnam in Q1
he Philippines’ Jollibee Foods Corporation (JFC) earned an EBITDA (earnings before interest, taxes, depreciation, and amortization) of over PHP1 billion ($16.2 million) from its fried chicken chain Jollibee and Highlands Coffee chains in Vietnam in Q1/2026.
Companies - Fri, May 15, 2026 | 3:42 pm GMT+7
Vietnam’s rapid growth in Asia-Pacific drives demand for higher operational standards: Savills
Being ranked among the Top 20 APAC Growth Hubs reinforces Vietnam’s appeal as a destination for international businesses, accelerating office expansion and multi‑site occupancy by regional and global tenants, write Savills Vietnam analysts.
Economy - Fri, May 15, 2026 | 3:33 pm GMT+7
Carlsberg Vietnam recognized with prestigious international, domestic honors
As expectations around sustainability continue to evolve, recognition for businesses is no longer driven by short-term outcomes, but by how they operate, adapt, and create value over time.
Companies - Fri, May 15, 2026 | 3:21 pm GMT+7
PV Drilling signs jack-up rig contract with Zarubezhneft EP Vietnam
PV Drilling, a subsidiary of state-owned Petrovietnam, has signed a contract to provide a jack-up drilling rig for Zarubezhneft EP Vietnam's development drilling campaign at the Thien Nga-Hai Au field in Block 12/11 offshore Vietnam.
Companies - Fri, May 15, 2026 | 2:03 pm GMT+7
Vietnam firms roll out hefty dividends after profit surge in 2025
Vietnamese companies are rolling out a wave of hefty cash dividends and bonus share issuances following strong earnings growth in 2025, with many payouts already scheduled for Q2/2026 after being approved during this year’s annual shareholder meetings.
Finance - Fri, May 15, 2026 | 1:04 pm GMT+7
Hanoi plans century-long urban overhaul centred on transport, Red River expansion
Hanoi has unveiled a sweeping new master plan with a 100-year vision that aims to transform the Vietnamese capital from a densely concentrated urban core into a multi-center metropolis driven by strategic infrastructure corridors, riverfront urbanization and regional transport connectivity.
Economy - Fri, May 15, 2026 | 9:35 am GMT+7
Berjaya Vietnam CEO spearheads $530 million acquisition of VinFast's manufacturing arm
Businessman Nguyen Hoai Nam, CEO of Berjaya Group Vietnam, has emerged as the key investor leading the $530 million takeover of Vietnamese electric vehicle maker VinFast’s manufacturing operations in Vietnam.
Companies - Fri, May 15, 2026 | 8:17 am GMT+7
S Korea’s KIM Fund no longer major shareholder in Vietnamese leading contractor Coteccons
South Korea’s KIM Vietnam Fund Management is no longer a major shareholder in Coteccons (HoSE: CTD) after its affiliated funds sold shares in one of Vietnam’s largest construction contractors.
Companies - Thu, May 14, 2026 | 6:46 pm GMT+7
Vingroup expands into surgical robotics with new medical technology venture
Vingroup (HoSE: VIC) is deepening its push into high-tech healthcare with the establishment of a new subsidiary focused on surgical robotics and advanced medical devices, as the country’s largest private conglomerate broadens its ambitions beyond electric vehicles, real estate, and hospitals.
Companies - Thu, May 14, 2026 | 6:19 pm GMT+7
Vietnam’s telecom giant Viettel expands defense tech cooperation with Turkish partners
Viettel High Tech, a subsidiary of military-run telecom heavyweight Viettel, has advanced partnerships in military communications, 5G infrastructure, counter-UAV systems, and next-generation defense technologies with major Turkish defense and telecom companies at the SAHA 2026 Defense and Aerospace Exhibition in Istanbul.
Companies - Thu, May 14, 2026 | 12:58 pm GMT+7
Vietnam Rubber Group posts highest quarterly profit in 5 years
Shares of Vietnam Rubber Group (HoSE: GVR) have surged 28% over the past three weeks after the state-controlled corporation reported its highest quarterly profit in five years, driven by a sharp increase in land compensation income and rubber tree liquidation gains.
Companies - Thu, May 14, 2026 | 12:09 pm GMT+7
Quang Ninh province coastal economic zone set to become seaport, logistics hub in Vietnam’s northern coast
The Prime Minister has approved the master plan for Quang Yen Coastal Economic Zone (CEZ) in Quang Ninh province through 2050, positioning the strategically located area between Quang Ninh and Hai Phong as a major hub for industry, seaport services, logistics, urban development, and tourism in northern coastal Vietnam.
Economy - Thu, May 14, 2026 | 11:22 am GMT+7
