Vietnam attracts LED enterprises, Seoul semiconductor and Ming Dynasty are marching on

More and more Korean electronics companies, including Samsung and LG, have recently announced their efforts to set up factories or expand investment in Vietnam and set up new production bases in the Southeast Asian countries. Yonhap quoted sources from the industry as saying that Seoul semiconductor has obtained a licence to invest $300 million in 2019 to build a semiconductor manufacturing plant in northern vietnam. The head of the company said it would pick Vietnam because it would help meet global demand for LED and make manufacturing costs more competitive. The Seoul semiconductor industry is expected to provide components to other technology plants in South Korea, as well as a number of technology companies from South Korea, the industry predicts. It is reported that Samsung reports also mentioned that 40% to 50% of the wisdom of mobile phone production in two factories, and two provinces in Taiyuan region. Samsung Electronics at the beginning of last year to build a consumer electronics production Park in the city of Hu Zhiming, future TV, air conditioner, washing machine, refrigerator and other household appliances, will produce here, the TV assembly line at the beginning of this year has been in operation. According to sources, Samsung plans to increase its investment from $2 billion to $1 billion 400 million by 2020. Hu Zhiming also decided last week to give Samsung more tax breaks in return for feedback. In addition, Lumens LG electronic factory like LED and LGD, have continued to invest in Vietnam or the expansion of existing production equipment. Lumens's new plant in southern Vietnam's Pingyang province will be completed in September, and LG plans to continue to increase its capital to $1 billion 500 million by 2028, producing a production Park in the northern coastal defense city. Vietnam's monthly minimum wage is about 59% of China's, and therefore has become a focal point for attracting enterprises, with up to six of Vietnam's 90 million population, becoming the 30 generation or younger population. "The Vietnamese labor costs are low and the workforce is 54 million," said KOTRA. "These are very good investment terms."."