Giant South Korean Firm Invests Nearly US$18 billion in Vietnam in 24 years

• 13 December 2021
• Construction Focus
• 2793 Views

South Korea’s electronics giant Samsung has invested nearly US$18 billion in manufacturing and research facilities in Vietnam in the last 24 years.

The investment amount represents 29% of total investment in the last five, VN Express reported on 7 December.

Samsung, with eight manufacturing and research facilities in the country, earned revenues of nearly US$60.5 billion in the first 10 months of this year.

Samsung Vietnam CEO Choi Joo Ho said that the firm’s ten-month revenue increased by 15% year on year, noting that despite the challenges to keeping factories going and sourcing parts amid COVID-19.

The company is building a US$220-million research and development centre in Hanoi, the first of its kind outside of its home country.

Photo credit to e.vnexpress

 

 

 

 

 

 

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