LG Electronics set to launch new facility in Haiphong

(VOV) -LG Electronics recently announced it is placing its new 100,000 square metre factory in Trang Due Industrial Park in the northern city of Haiphong into operation in October.

The new facility to manufacture and export electronic products and electrical household appliances has an expected localization rate of 50%.

LG Electronics Vietnam General Director Ko Tae Yeon, revealed the group plans to expand the facilities to 402,600 square metres over the next 10 years at an estimated cost of US$1.5 billion.