LG Display posts $115 mln net income in Vietnam in 2023
LG Display Vietnam Haiphong Company, under LG Display - a subsidiary of South Korean chaebol LG, posted a net income of KRW159.1 billion ($114.9 million) in Vietnam in 2023.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hai Phong city prepares massive industrial parks to accommodate FDI
Vietnam’s northern port city of Hai Phong has plans to build new industrial parks (IPs) to prepare for an anticipated increase in foreign direct investment (FDI) amidst a supply chain value shift to the Southeast Asian region.
Industrial real estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
LG’s Vietnam plants report post-tax profits of $133.5 mln in Jan-Sep 2023
Two Vietnamese subsidiaries of South Korea’s LG Electronics have posted a combined post-tax profit of KRW179.31 billion ($133.5 million) in Jan-Sep 2023, down 27.6% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
2023: energy, electronics sectors shine bright as Vietnam attracts huge foreign investments
Energy and electronics sectors hogged the limelight as registered foreign direct investment (FDI) in Vietnam reached $36.6 billion this year through December 20, up 32.1% year-on-year.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central region sees emerging FDI wave from South Korea
An increasing number of South Korean companies are interested in investing in Vietnam’s central region given Vietnam’s move to balance regional development and local government activism, said Kang Boo Sung, consul general of the Northeast Asian country in Danang.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Samsung supplier Synopex fined $9,500 for environmental violations
The northern province of Bac Ninh has fined wholly Korean-invested Synopex VND230 million ($9,500) for environmental violations.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
LG’s Vietnam factories record higher revenues, lower profits in H1
Vietnamese subsidiaries of LG Electronics reported higher sales revenues but lower post-tax profits in the first half of this year, according to the South Korean giant’s financial statements.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hai Phong city attracts $3 bln of FDI in Jan-Sep
Vietnam’s northern city of Hai Phong attracted over $3 billion of foreign direct investment (FDI) in the first nine months of 2023, becoming one of the top FDI locations in the country.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Deputy PM urges haste on LG R&D center project in Hai Phong city
Deputy Prime Minister Tran Luu Quang has urged South Korean Ambassador Choi Youngsam to push electronics giant LG Group to invest in developing an R&D center in Hai Phong city.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Major Taiwan electronics makers charmed by Vietnam
Leading Taiwan-based electronics manufacturers, in their efforts to diversify supply chains, have constantly found Vietnam as a destination to open new factories or expand production.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam new source for rare earths magnet companies
South Korea's Star Group Industrial (SGI) and China's Baotou INST Magnetic are set to open factories in Vietnam to explore rare earth deposits, according to Reuters.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Wistron to pour additional $24.5 mln into Vietnam
Apple supplier Wistron’s board of directors (BOD) has approved a proposal to inject an additional $24.5 million into its new manufacturing subsidiary in Vietnam in line with the electronics maker’s business expansion and strategic planning.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
S Korean electronics giants report Q1 profit dip in Vietnam
Vietnamese subsidiaries of South Korean giants LG Electronics and Samsung have reported lower after-tax profits year-on-year in the first quarter of this year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam braces for increased foreign R&D investments
Vietnam is becoming a popular destination for research and development (R&D) among multinationals as the country cements its status as a new global manufacturing hub.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
US firm studies feasibility of Hai Phong free trade zone
U.S. consulting firm CT Strategies LLC has signed a contract with Vietnam’s L.Q Joton Group to carry out a feasibility study for a free trade zone in Hai Phong city.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
S Korea’s LG Innotek to double investment to $2 bln in Hai Phong city
LG Innotek, the electronic component arm under South Korea’s giant LG, will invest an additional $1 billion in Vietnam’s Haiphong city, doubling its investment in the northern coastal city to $2.05 billion.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam top investment focus for leading S Korean firms
Vietnam’s importance as a highly favoured investment destination for leading South Korean companies is reflected in the strong business delegation accompanying President Yoon Suk Yeol, officials say.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam-South Korea business ties to strengthen at landmark forum
South Korean companies, including global giants Samsung, LG, and SK Group, will attend the Vietnam-Korea business forum in Hanoi on June 24 along with more than 200 other firms to further expand bilateral economic ties.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hai Phong city approves Korean investments of $230 mln
Vietnam’s northern coastal city of Hai Phong approved four South Korean-invested projects with total registered capital and additional capital of $230 million at the Hai Phong-Korea trade and investment promotion conference on Monday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Top Korean firms to attend business forum in Vietnam to boost trade
Executives from South Korean leading conglomerates will attend an economic forum in Vietnam on June 24 as both countries seek to expand economic cooperation.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Apple supplier Pegatron invests $68 mln to house workers in Vietnam
Pegatron Vietnam Company Limited, a subsidiary of Taiwanese electronics manufacturer Pegatron Corporation, kicked off the construction of a 5.04-hectare worker accommodation project in the northern city of Hai Phong on Tuesday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Electronics maker Wistron set for Vietnam expansion
Apple supplier Wistron is joining a global electronics manufacturing wave of expanding production in Vietnam after quitting its iPhone production in India.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam-based LG factories post $329 mln profit in 2022
Electronics giant LG’s three factories in Vietnam recorded a total net profit of KRW434.51 billion ($328.5 million) in 2022, down 21% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
LG Electronics to power up auto parts R&D in Vietnam
LG Electronics said Thursday it is ramping up research and development in Vietnam to serve LG’s rapidly growing electric vehicle-related business, following its Korean peer Samsung Electronics's launch of a $220-million R&D center in Hanoi in late December.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
LG Display plans expansion of Hai Phong factory
South Korean giant LG Display plans to expand its 45-hectare factory in the northern city of Hai Phong and seek recruitment support from the Vietnamese labor ministry.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global minimum tax hot issue facing Vietnam
Vietnam should be paying closer attention to the global minimum corporate tax rate, given the country attracts foreign investors.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Electric vehicle heavyweight BYD to build car parts factory in Vietnam
Vietnam has proved its rising status as a manufacturing base for BYD, dubbed China’s Tesla, with the Chinese giant planning to build a car parts plant in the country for supply chain diversification.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Global display maker BOE eyes 2 more Vietnam plants
BOE Technology Group Co., one of the world's largest manufacturers of displays, plans to build two new factories in Vietnam, with substantial investments.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Thai industrial developer Amata ramps up operations in Vietnam
Amata, Thailand’s biggest industrial developer, is set to expand in fast-growing Vietnam as part of its modified plans for 2023.
Industrial real estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam progresses as electronics manufacturing hub
Vietnam is emerging as Apple’s next production hub while other giant electronics makers are accelerating their buildup in the tech-savvy nation to diversify supply chains.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Samsung eyes additional $2-bln investment in Vietnam
Korean electronics giant Samsung is set to add $2 billion into Vietnam, raising its total to $20 billion, according to Samsung Electronics CEO Han Jong-hee.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
LG plans new $4-bln investment in Vietnam
Korean tech giant LG plans to channel another $4 billion into Vietnam, LG Corp. vice chairman and CEO Kwon Bong-seok told Vietnamese President Nguyen Xuan Phuc on Monday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Apple supplier Pegatron to build Vietnam houses for workers
Hai Phong's administration aims to help Apple's supplier Pegatron break ground on its 5-hectare worker accommodation project in the northern city this December.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hai Phong okays $152 mln in investment capital from S Korean firms
Four South Korean-invested projects have received certificates to invest $151.5 million in Hai Phong city, Vietnam’s northern business hub.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Foxconn plans new $300 mln investment in Vietnam
Apple supplier Foxconn has signed a deal to rent an additional 50.5 hectares of industrial land in northern Vietnam while Apple is seeking to build more products outside of China.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
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