LG plans to pour further US$4 billion into Vietnam
VOV.VN - LG Corporation of the Republic of Korea has planned to inject an additional US$4 billion into its projects in Vietnam in the near future, announced Kwon Bong-seok, vice chairman and CEO of LG Corp.
Kwon revealed the plan at a meeting in Seoul on December 5 with Vietnamese President Nguyen Xuan Phuc who was making an official visit to the RoK.
Kwon said the Korean firm had begun its investment in the Vietnamese market in 1995 and has so far poured US$5.3 billion into fields such as camera, electronics, household appliances, and auto component manufacturing.
Around 27,000 Vietnamese workers are currently employed in LG Corp.’s plants throughout Vietnam, with plans already underway to add another US$4 billion into the country, he affirmed.
LG Corp. has high hopes of developing Vietnam into its centre for manufacturing smartphone cameras in the future, Kwon said.
President Phuc applauded the group’s strong investment in Vietnam, saying he had previously attended an inauguration ceremony for one of its US$2 billion plant in Hai Phong, hoping to create jobs for many local workers.
He expressed hope the group would increase its investment in Vietnam, especially in fields such as automobile spare parts and mobile phone components, whilst also boosting cooperation in information technology and software training.
