South Korean conglomerate Hyosung plans to inject an additional $4 billion into Vietnam, signaling a major expansion of its presence in the Southeast Asian nation. The investment, announced by the Vietnamese government following a meeting between Prime Minister Pham Minh Chinh and Hyosung Chairman Cho Hyun-joon, will target sectors including data centers, aviation fuel, and high-tech manufacturing.
Hyosung, currently Vietnam’s third-largest Korean investor, intends to double its local workforce to 20,000 as it expands into biotechnology, carbon fiber, and other advanced materials production. The company is also expected to collaborate with partners from the United Arab Emirates on energy projects.
This move aligns with a broader trend of South Korean firms, such as Samsung and CJ Group, positioning Vietnam as a key hub in their global strategies. South Korea has been Vietnam’s largest cumulative investor over the past three decades, with recent investments shifting from traditional manufacturing to high-tech exports.
While the timeline for the $4 billion disbursement remains unclear, the investment underscores Vietnam’s growing importance as a supply-chain hub and its appeal to foreign investors seeking to diversify their manufacturing bases.
