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Friday, February 3, 2023

LG to invest US$4 billion in Vietnam

The Saigon Times

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HCMC – LG intends to expand its Vietnam operations by investing US$4 billion in a manufacturing base for its smartphone camera modules, according to the Voice of Vietnam station.

LG’s Chief Operating Officer Kwon Bong-Seok made the statement in Seoul on December 5 during a meeting with Vietnamese President Nguyen Xuan Phuc, who was in South Korea for a state visit from December 4 to 6.

President Phuc praised the decades-long efforts of LG in Vietnam, with thousands of jobs created and substantial investments made by the company.

He encouraged LG to expand its activities in multiple industries, including automotive, information technology and software.

According to the Vietnamese President, Vietnam is committed to improving its infrastructure and creating more favorable conditions for business expansion.

Since 1995, LG has invested US$5.3 billion in Vietnam. The South Korean electronics conglomerate now employs 27,000 Vietnamese at its facilities nationwide.

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