Seoul Semiconductor plans second factory in northern Vietnam province
South Korea’s Seoul Semiconductor plans to build its second factory in the northern province of Ha Nam, founder and CEO Lee Chung-Hoon said Wednesday.
In his meeting with provincial authorities, he requested their support for the project, particularly in completing administrative procedures and lowering land lease fees.
Lee Chung-Hoon (left), founder and CEO of Seoul Semiconductor, meets with Le Thi Thuy (center), chief of Ha Nam's Party Committee, and Tran Xuan Duong (right), Vice Chairman of the northern province, January 24, 2024. Photo courtesy of Ha Nam newspaper.
Le Thi Thuy, chief of Ha Nam's Party Committee, said she appreciated Seoul Semiconductor as one of the biggest foreign investors in the province and welcomed its expansion plans.
Ha Nam Vice Chairman Tran Xuan Duong said the province would provide the best possible facilitation for the South Korean firm’s expansion, saying it would generate more employment and boost socioeconomic development.
Ha Nam stands committed to fulfilling its pledges to investors and striving to solve problems that they face, he added.
Seoul Semiconductor’s first project in the province, a 7.5-hectare factory with an initial investment of $300 million, was inaugurated in May 2017. The firm raised its investment to $350 million next year.
Employing 3,000 people, the plant produces semiconductor components, LED bulbs, and high-tech LED components, serving the lighting, telecommunications, electronics and energy-saving industries.
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