South Korea becomes biggest investor in Vietnam in first 4 months
(VOVWORLD) -South Korea poured more than 2.3 billion USD in Vietnam in the first four months of this year, topping the list of 82 countries and territories investing in the country.
 Workers at a Korea-invested mobile phone spare part manufacturing factory in Vietnam's northern province of Thai Nguyen (Photo: VNA) |
Notably, some large-scale Korean-invested projects registered to increase capital. LG Innotek proposed adding 500 million USD to its camera module production project in Hai Phong city while Kefico Vietnam registered to raise capital by 120 million USD for its project in the northern province of Hai Duong, which specializes in manufacturing components and accessories for motor vehicles. The Korea Trade-Investment Promotion Agency has revealed plans to move its main headquarters in Southeast Asia from Singapore to Hanoi. The agency said the decision was made in consideration of the growing number of Korean companies operating or planning to invest in the country. Two-way trade between Vietnam and South Korea reached 64 billion USD in 2017.