Imprints of South Korean investors in Hai Duong

There are 134 South Korean-invested projects in Hai Duong with a total capital of more than 1.4 billion USD, ranking first in the number of projects. In the photo: Workers of South Korean-invested ATSK Vina Co., Ltd. assemble electronic components

A representative of the provincial Industrial Zones (IZ) Authority said among 27 IZ-based enterprises increasing investment in 2022, there were up to 13 South Korean-invested ones.

The total added capital of the South Korean-invested enterprises exceeded 174 million USD, accounting for about 60% of the total adjusted capital of projects in IZs.

This year, Huyndai Kefico Vietnam Co., Ltd. increased its investment by 50 million USD, bringing the total investment in its project to 400 million USD.

This is a typical foreign direct investment (FDI) project with the largest ratio of investment to area of land in the provincial IZs. After investment increase, the project will have a production scale of about 160 million electronic products per year.

Thus, since 2009 when Huyndai Kefico Vietnam Co., Ltd. officially invested in Hai Duong with the project of manufacturing spare and auxiliary parts of motor vehicles and engines with a total investment of 65 million USD, the enterprise has increased investment 11 times to improve production capacity.

South Korean-invested GG Hai Duong Co., Ltd. decided to pour 3.5 million USD into Ngu Hung – Thanh Giang industrial cluster, Thanh Mien district, in 2017. After one year of stable operation, the business increased investment by 700,000 USD.

The company exports 1.2 million clothing products each year and provides stable jobs for nearly 1,000 laborers.

Wholly South Korean-invested GG Hai Duong Co., Ltd. exports 1.2 million clothing products each year

“With a favorable geographical location, developed traffic, and abundant human resources, Hai Duong is an ideal destination for investors,” said director-general Cho Yong Soo.

“I hope that Hai Duong authorities will continue to have facilitation policies and mechanisms for enterprises, contributing to developing the comprehensive and friendly relationship between Vietnam and South Korea.”

There are 492 FDI projects from 26 countries and territories with a total registered investment of over 9.2 billion USD in Hai Duong. In which, 134 projects are from South Korea, with a total investment of more than 1.4 billion USD, ranking first in the number of projects and third in total FDI in Hai Duong.

South Korean-invested businesses’ projects are mainly in the fields of electricity, electronics, molds, logistics, garments, etc.

At present, these enterprises are providing regular jobs for about 60,000 laborers with per capita income of 7 – 9 million VND/ month.

Over the past years, South Korean-invested businesses have contributed to promoting the development of industry and handicraft, created jobs for many workers, and increased revenue for the local budget.

Though there have not been 2022 data, the export turnover of South Korean-invested businesses in the province amounted to 900 million USD in 2021, making up 9.1% of the total export turnover and 8.8% of the GRDP of Hai Duong.

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