Samsung Vietnam facilities in Thai Nguyen province post 5% revenue growth in 2024: outgoing CEO
Factories in Thai Nguyen province of Samsung Vietnam earned a total revenue of $26.3 billion in 2024, up 5% year-on-year, said outgoing Samsung Vietnam CEO Choi Joo Ho.
The executive made the statement at a Monday meeting with Thai Nguyen authorities ahead of the Lunar New Year holiday (Tet).
He attributed the strong performance to the provincial authorities’ support amid challenges in the global economy. The figure included $24.8 billion of export revenue.
For 2025, Samsung aims to raise its revenue from Thai Nguyen facilities to $27.8 billion, up 6%.
Samsung Vietnam CEO Choi Joo Ho (left) and Trinh Viet Hung, chief of Thai Nguyen province's Party Committee, at a meeting in the province, northern Vietnam, January 13, 2025. Photo courtesy of Thai Nguyen news portal.
Choi Joo Ho also noted that he is about to finish his tenure in Vietnam and will continue supporting Samsung Vietnam and Thai Nguyen province in the next steps of his career.
Last week, at a meeting with Bac Ninh province, home to Samsung Display Vietnam and Samsung Electronics Vietnam, Choi Joo Ho noted that revenue from the plants in this province went down 10% year-on-year to $31.4 billion.
Samsung Vietnam owns six production facilities and one R&D center. Major ones are Samsung Electronics Vietnam Thai Nguyen (SEVT) and Samsung Electro-Mechanics in Thai Nguyen province; Samsung Display Vietnam (SDV) and Samsung Electronics Vietnam (SEV) and Samsung SDI Vietnam in Bac Ninh province; and Samsung Electronics HCMC CE Complex (SEHC) in Ho Chi Minh City.
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