S.Korea’s Hyosung plans to invest US$2 billion more in Vietnam

January 18, 2024

HCMC – Hyosung Group, a South Korean conglomerate known for its expertise in electrical transformer manufacturing, is planning to inject an additional investment of US$2 billion into Vietnam this year. Many South Korean companies, seeing the favorable investment environment in Vietnam, are actively exploring ways to expand their presence in the country, and Hyosung Group is one of them. With this additional investment, the conglomerate’s total capital investment in Vietnam would amount to US$5 billion. Hyosung has already invested US$3.5 billion in Vietnam, employing around 9,000 local workers and achieving annual revenue of US$25 billion. Founded in 1962, Hyosung is a major South Korean conglomerate specializing in electrical transformers.

The source of this news is from The Saigon Times