Semiconductor firm Signetics to start $100 mln Vietnam factory production in 2025
South Korean semiconductor firm Signetics plans to put its Vinh Phuc province-based $100-million factory, that will supply products to chaebols Samsung and SK, into operation by October 2025.
Signetics and CNCTech, a local provider of precision machines and a major industrial park developer in the northern province, signed an agreement Wednesday to build and operate the factory. CNCTech is known for its portfolio of over 600 hectares of industrial real estate.
Representatives of Signetics and CNCTech sign an agreement in Vinh Phuc province, northern Vietnam, August 14, 2024. Photo courtesy of Vinh Phuc newspaper.
The Signetics factory in Ba Thien I Industrial Park will cover five hectares, producing flip-chip, MCM, BGA, and FBGA, which are essential components of memory chips, graphics processing units (GPU) and televisions.
Speaking at the signing ceremony, Vinh Phuc Chairman Tran Duy Dong said South Korea was the province’s top foreign investor, both in terms of investment value and project number. He asked relevant agencies to help the investor process administrative procedures and utility services.
He also requested Young Poong, the parent firm of Signetics, to make further high-tech investments in the province.
As of July 2024, Vinh Phuc had attracted foreign direct investment (FDI) of $7.33 billion in 555 valid projects, according to the Ministry of Planning and Investment. South Korea was the province’s biggest investor with 238 projects and a total registered capital of over $3 billion.
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