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.
Park Young Dall, vice president and head of LG Display's human resource management division, made the proposal to Deputy Minister of Labor, Invalids, and Social Affairs Le Van Thanh at a Wednesday meeting. He added that LG Display would have huge demand for high-quality laborers, especially engineers.
The South Korean executive also thanked the Vietnamese government and the northern coastal city for their assistance throughout phases of investment and operation.
In reply, Deputy Minister Thanh said that Vietnam can fulfill the recruitment demands of LG Display as two million students enroll in higher education annually. He also urged the South Korean giant to continue training laborers after recruitment.
Established in 2016, LG Display Vietnam Haiphong Co. Ltd. is a subsidiary of LG Display Corporation, specializing in producing thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels for flexible displays and devices.
LG Display's $6-billion Hai Phong factory began construction in May 2016 and was inaugurated in December 2017. The plant's monthly capacity is eight million components for smartphones, smart watches, and tablets, and 100,000 for televisions.
It is LG Display's first foreign investment and LG's second investment in Hai Phong city, after the LG Electronics factory in 2013.
Korean tech giant LG plans to channel another $4 billion into Vietnam, LG Corp. vice chairman and CEO Kwon Bong-seok told then Vietnamese President Nguyen Xuan Phuc in December 2022.
Bong-seok said LG expected to turn Vietnam into an LG production hub for telephone cameras in the future.