Seoul Semiconductor to invest US$300m in Vietnam

[THE INVESTOR] Seoul Semiconductor, the nation’s leading light-emitting diode maker, is investing US$300 million in Vietnam to build a new LED and chip plant there.

According to industry sources on Aug. 9, the company recently got approval from the regional government for the construction.

The new plant will be located on a 75,000 square-meter site in the northern province of Ha Nam by 2019. About 3,000 people are expected to be hired.  

The company said it aims to take advantage of Vietnam’s low labor costs while supplying parts to the nascent production plants of its key clients such as Samsung Electronics. Samsung produces almost 50 percent of its handsets in the Southeast Asian nation.

By Lee Ji-yoon (jylee@heraldcorp.com)