Hai Phong continues to be a successful destination for Korean investors

With advantages in transportation and seaports, Hai Phong continues to be an attractive destination for foreign investors, including South Korea. Currently, South Korea is the leading country in total investment capital and second in total number of FDI projects in Hai Phong.

The state visit of General Secretary To Lam to the Republic of Korea from August 10 to 13 was of special significance, creating a strong driving force to enhance mutual understanding, consolidate political trust, promote and deepen the Vietnam - Republic of Korea Comprehensive Strategic Partnership in the next period.

The delegation included Mr. Le Tien Chau, Secretary of the Hai Phong City Party Committee, and leaders of departments, agencies and sectors of Hai Phong City. This visit not only opens up many cooperation opportunities between the two countries in the coming time, but also opens the door for Hai Phong to attract more high-quality foreign direct investment (FDI) projects from Korea.

Hai Phong city leaders hope that LG Group will continue to expand its investment and business activities in Hai Phong city. Photo: HEZA.

In the context of the Vietnam - Korea relationship being at its best stage of development, Vietnam is no longer a mere production base, but is increasingly being evaluated as a strategic partner, accompanying Korea in the process of innovation and sustainable development.

Along with the commitments to “roll out the red carpet” for investors, Hai Phong has every reason to expect to welcome a new wave of high-tech FDI projects, further increasing the proportion of capital from Korea. Korean enterprises make an important contribution to the goal of turning the city into a leading modern industrial and seaport service center in the region by 2030.

In June 2025, Innox Ecom Vina Co., Ltd. (under INNOX Holdings Group - Korea) inaugurated a project to produce silicon cathode material (SiO) - a key component in electric vehicle batteries in the duty-free zone and Nam Dinh Vu industrial park, in Dinh Vu - Cat Hai Economic Zone. With a total investment of 20 million USD, the project has a scale of 6,000 m², a capacity of 800 tons of products/year and all output is exported to Europe and America.

Mr. Park Jung Jin, CEO of INNOX Holdings Group, is honored that Innox Ecom Vina has laid the foundation for production in Hai Phong - a city that is gradually realizing its goal of becoming an industrial and high-tech center of the country and the region by 2030. At the same time, he affirmed that Innox Ecom Vina will play a pioneering role in the field of silicon cathode materials in Hai Phong - a core component in the electric vehicle industry. From this second production facility in Hai Phong, INNOX Holdings will continue to expand its third and fourth facilities with the desire to accompany the development of Hai Phong city and Vietnam.

Or recently, Heesung Electronics Vietnam Co., Ltd. (a 100% Korean-invested enterprise) has just increased its investment by 125 million USD in high-tech production, installing new factories and machinery... bringing its total investment capital in Hai Phong to 225 million USD.

Mr. Ko Tae Yeon, Chairman of the Korean Business Association in Vietnam, General Director of Heesung Electronics Vietnam Co., Ltd. commented: “Hai Phong today is the result of many efforts, from the city's investment attraction policy, the support of all levels of government to increasingly complete infrastructure facilities. In recent times, the cooperation between Korea and Hai Phong City is demonstrated by the investment capital of more than 14.6 billion USD and the leading position in investment capital, which is not a coincidence. I believe that in the coming years, many more Korean enterprises will come and continue the investment story in Hai Phong”.

In the coming time, Mr. Ko Tae Yeon assessed that Hai Phong will still be an attractive destination for Korean investors. That attraction comes not only from the large investment amount, but also from a gradually perfecting ecosystem, including infrastructure, policies, and human resources.

However, to move from attractive to sustainable, decisive steps are needed: professional specialization, targeted incentives, infrastructure improvement, digital transformation promotion, and training quality improvement. When these things happen in sync, Hai Phong will not only be a place to build factories, but also a place to form high-value technology, logistics, and supply chain centers.

Trang Due Industrial Park is considered a stronghold of Korean investors in Hai Phong with more than 10 billion USD in investment capital, mainly coming from projects of LG Group.

Regarding LG Display Vietnam Hai Phong Co., Ltd., the representative of the company's leadership said that after the group increased its investment capital by another 1 billion USD by the end of 2024, the company will continue to expand its production scale to meet the increasing demand of the market. Trang Due Industrial Park is considered a "stronghold" of Korean investors in Hai Phong with more than 10 billion USD in investment capital, mainly from LG Group's projects.

LG Electronics Vietnam Hai Phong Co., Ltd. is also urgently building its fourth factory and preparing to launch new products. The company also estimates that its revenue in 2025 could increase by 17%, along with the need to recruit thousands of new workers.

According to Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, Korea is not only the leading country in terms of total investment capital, but it is also noteworthy that Korea's investment fields in Hai Phong are mainly high technology, participating in the global supply chain, especially focusing on the fields of electronics, auto parts, machinery, etc. The achievements that Korean investors have achieved in Hai Phong are clear evidence that the city is an attractive destination, suitable for investment and business activities.

During the above working trip to Korea, the Hai Phong City delegation had working sessions with Doosan Enerbility Company (a business focusing on developing environmentally friendly energy solutions), Bumhan Group, Nexen Group, EMS Association, SKC Group, and Hyundai Group.

During the working trip to Korea, the Hai Phong City delegation worked with HD Hyundai Heavy Industries Group. Photo: HEZA

At the above working sessions, Mr. Le Tien Chau, Secretary of Hai Phong City Party Committee, hoped that Doosan Enerbility Company would survey wind power potential and research hydrogen energy and sustainable energy projects in industrial parks and economic zones; research the establishment of a research and development center for sustainable energy technology in Hai Phong, coordinate with local universities, implement scholarship programs, and train human resources in Korea; pay attention to industrial symbiosis projects, apply advanced production technology, save energy, reduce emissions, and be in line with the goals of green industrial development and Net Zero.

The delegation of Hai Phong city took a souvenir photo after the working session with Nexen Group in Korea. Photo: HEZA

Hai Phong city leaders hope that Bumhan will expand its investment in renewable energy and green hydrogen; Nexen will consider investing and seizing opportunities to develop the city's transport and logistics infrastructure; EMS Association will research and cooperate in potential areas such as applying smart technology in infrastructure, transport, and environment; research cooperation, technology transfer, etc.

Among the 42 countries and territories registering FDI capital in Hai Phong's industrial parks and economic zones, South Korea ranks second in the number of projects and first in investment capital (nearly 200 projects with 14.6 billion USD), accounting for more than 34% of the total investment capital in the city's industrial parks and economic zones.

Projects of Korean investors operate effectively, mainly focusing on high-tech products in the fields of electronics, precision engineering, auto components and some other industries such as finance, banking, garment... The projects not only promote growth, but also shape the industrial restructuring, enhancing the city's competitiveness in the region and internationally.

Source: https://baodautu.vn/hai-phong-tiep-tuc-la-diem-den-thanh-cong-cua-nha-dau-tu-han-quoc-d359968.html