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Top Korean companies in Vietnam

Top Korean companies in Vietnam

Tuesday 08, 06 2021
Currently, there are about 9,000 Korean enterprises in Vietnam with the accumulated investment capital of nearly 70.4 billion USD, accounting for 18.5% of the total FDI capital in Vietnam.

Vietnam’s investment environment

Located in a strategic position in Southeast Asia, Vietnam is like a logistics hub that can be connected via road, waterway and airway systems. Its extensive deep-water seaport system can accommodate cruise ships and large cargo ships. This is an extremely favorable condition for the development of sea transportation to transship goods to the Mekong sub-region and the world.

Besides favorable natural conditions, Vietnam is a country with developed social infrastructure including modernized banking service systems, telecommunications, schools, hospitals, public service works, which helps meet the increasing needs of its people and foreigners who are doing business in Vietnam.

With a population of nearly 100 million people, Vietnam offers an abundant and high-quality young workforce. With their industrious, intelligent and creative nature, the young Vietnamese generation is an important contributor to development of the country. This is also a fundamental factor for foreign investors to feel secure and confident when investing in Vietnam.

Investment of Korean companies into Vietnam

Korea is currenlty the among major investors in Vietnam. There are more than Korean 9,000 enterprises with total accumulated investment capital of nearly 70.4 billion USD (as of October 2020), accounting for 18.5% of total FDI capital in Vietnam. In the first 10 months of 2020, South Korea came out second in the list of countries and territories with large investments in Vietnam, with 3.42 billion USD, following Singapore with 7.51 billion USD. However, in terms of the number of new projects, Korea still ranks first with 528 projects.

Investment of Korean companies into Vietnam

Korea is increasingly becoming an important investment partner of Vietnam. Korean businesses have been present in every aspect of Vietnam's economy, from apparel to electronics, infrastructure to energy, automobiles to aerospace, real estate to finance and banking, etc. They have contributed greatly to the economic restructuring, and created jobs for over 700,000 Vietnamese people. Along with investment activities, trade value between the two countries has also been constantly increasing, reaching about 65.1 billion USD in 2020 despite the impact of the Covid-19 pandemic.

Top 10 largest Korean companies in Vietnam

1. SAMSUNG VIETNAM

Coming out top is Samsung Vietnam, which entered the Vietnamese market in 1996.

Samsung has carried out projects to manufacture mobile phones, tablets, and home electronics (TVs, air conditioners, washing machines,...) in Vietnam. Currently, Samsung has 6 factories located in Bac Ninh, Thai Nguyen and Saigon, creating jobs for hundreds of thousands of Vietnamese workers.

In addition to being the largest Korean company in Vietnam, according to VietnamCredit, Samsung is also the largest comapny in Vietnam in 2020 with total revenue of 67 billion USD, accounting for 25% of Vietnam's GDP.

Samsung LG

2. LG ELECTRONICS VIETNAM

LG Electronics Vietnam is also considered as one of the major Korean companies in Vietnam. It specializes in the production of mobile devices, audio-visual equipment, home appliances, refrigerators, etc.

In 1995, LG was present in Vietnam and headquartered in Hanoi. After 25 years of operation and continuous development, LG now has 3 factories in Vietnam, one located in Hung Yen and the other two located in Hai Phong.

3. LOTTE VIETNAM

Lotte is a multinational corporation, operating in 6 fields including food, retail, tourism/services, chemicals/construction/manufacturing, finance, research and development/support.

Lotte has been present in Vietnam since 1996 with well-known subsidiaries such as Lotte Vietnam Co., Ltd. (manufacturing and trading in confectionery), Lotte Mart (supermarket), Lotte Cinema (cinema), Lotteria (fast food restaurant), Lotte Center (commercial center complex).

Lotte Huyndai

4. HUYNDAI

Huyndai is also among top Korean companies in Vietnam. It is a famous car and motorcycle manufacturing company.

Hyundai Group has invested effectively in Vietnam for many years. It is known through the joint venture and cooperation with Thanh Cong Group and Truong Hai in the production, assembly and distribution of automobiles.

5. CJ VIETNAM

CJ formerly operated as a food business branch of Samsung Group. The company established its representative office in Vietnam in 1998, and in 1999, it started to build the Animal Feed factory in Long An – marking the investment in Vietnam.

After more than 20 years of development, in addition to animal feed, CJ constantly expands its business to media, television, entertainment, shopping, and confectionery.

CJ & Deawon

6. DAEWON

Daewon is one of the top Korean companies with decades of experience in the fields of real estate, construction and textiles.

In 2002, Daewon established a Korean garment company - Daewon Vietnam Textile Co., Ltd. in Nhon Trach I Industrial Park, Dong Nai Province.

In 2004, Daewon - Thu Duc Housing Development Joint Stock Company (formerly known as Daewon - Thu Duc Housing Development Joint Venture Company) was officially established. Currently, Daewon - Thu Duc is one of the largest and most developed Korean construction companies in Vietnam.

In 2006, Daewon Da Nang Company was established with 3 large-scale textile factories.

7. KWANG VINA

KWANG VINA Co., Ltd. is located in Nhon Trach 1 Industrial Park, Hiep Phuoc Commune, Nhon Trach District, Dong Nai, specializing in fabric trading and dyeing.

The company's products are appreciated with high quality, meeting the standards and requirements of the domestic and international markets. IL Kwang Vina Co., Ltd.'s partners are manufacturers of ready-to-wear and garment accessories.

8. JAEILL VIETNAM

Jaeill Vietnam Co., Ltd. is one of the most famous textile and garment companies in Vietnam, officially operating on April 8, 2003.

Its line of business is manufacture of yarn, other textiles, and paper and board products.

9. NAMYANG INTERNATIONAL

Namyang International Co., Ltd was established in 1985 in Korea, specializing in the production of fashion garments. Namyang has partnered with famous fashion brands such as Kohl's, H&M, Target, Guess, Express, Talbots, Zara, etc.

With 5 large factories, Namyang International Co., Ltd. has created hundreds of thousands of jobs for Vietnamese people, making great contributions to Vietnam's economy.

10. BORAMTEK VIETNAM

Boramtek Vietnam Co., Ltd was established in 1995 as a subsidiary of Kuroda Electric Co., Ltd. Boramtek is a company specializing in manufacturing auto parts, motorcycles, industrial engines, and household tools.

Partners of Boramtek Vietnam Co., Ltd are big companies including Honda Vietnam, Suzuki Vietnam, Mitsuba M-Tech Vietnam, etc.

Source: investvietnam.gov.vn

Compiled by VietnamCredit

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