Samsung Vietnam earns $31.4 bln in 2024, down 10%
Samsung Vietnam, under South Korean chaebol Samsung, earned a revenue of $31.4 billion in 2024, down 10% year-on-year, the firm reported.
A delegation of Samsung Vietnam, led by CEO Choi Joo Ho, reported the figure at a Friday meeting with Bac Ninh province, home to factories of Samsung Display Vietnam and Samsung Electronics Vietnam.
Samsung Vietnam expects its revenue to go up by 10% in 2025 to $34.7 billion. A key driver to the recovery this year is Samsung Display Vietnam’s $1.8 billion additional investment. Samsung Display Vietnam has received an investment registration certificate for a $1.2 billion portion of the investment.
Samsung Vietnam CEO Choi Joo Ho (holding red bag) at a meeting with Bac Ninh authorities, Bac Ninh province, northern Vietnam, January 10, 2025. Photo courtesy of Bac Ninh TV.
Besides, Choi Joo Ho said he appreciated Bac Ninh province’s efforts in helping Samsung, including pushing the issuance of the Investment Support Fund decree and solving issues related to the Global Minimum Tax.
In reply, Nguyen Anh Tuan, head of Bac Ninh Party Committee, highlighted the province’s GRDP growth of 6.03% in 2024, with a major contribution from Samsung and other foreign businesses. He affirmed provincial authorities would continue helping the business community, especially Samsung.
Samsung Vietnam owns six production facilities and one R&D center.
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