New expectations regarding South Korean capital flows.

Nearly $15.5 billion in investment capital and over 320 active projects have not only made South Korea the largest investor in Hai Phong but also laid the foundation for new cooperation prospects.

The city of Hai Phong and its South Korean partners signed four memoranda of understanding on cooperation at the Hai Phong - South Korea Investment Promotion Conference 2026 in early June. Photo: Tuan Anh

When South Korean capital becomes a driver of growth

According to the Hai Phong Economic Zone Management Board, South Korea is currently the leading country in terms of total investment capital in Hai Phong, with over 320 active projects and a total registered capital of nearly US$15.5 billion, accounting for nearly 30% of the city's cumulative FDI. Within industrial parks and economic zones alone, South Korean businesses are investing approximately US$14.66 billion through more than 168 projects.

Among them, the LG Group, with a total investment of over $10.6 billion and more than 31,000 employees, is considered a prime example of the economic cooperation between Hai Phong and South Korea. Along with LG, many other large Korean corporations and businesses have chosen Hai Phong as their investment destination, such as SK with a total investment of approximately $500 million, Hyundai with approximately $450 million, Heesung with approximately $279 million, and Haengsung with approximately $135 million.

The investment structure also shows the prominent role of technology and manufacturing industries in the flow of Korean capital in Hai Phong. Specifically, the electronics sector accounts for approximately 34%, mechanical engineering - machinery - equipment 32%, logistics 17%, and the remainder consists of chemicals, plastics, packaging, textiles, footwear, and other industries.

Besides providing significant capital, Korean businesses also contribute to promoting technology transfer, expanding export markets, improving production capacity, and creating jobs for tens of thousands of workers.

The electronics sector accounts for approximately 34%, the mechanical engineering and equipment sector for 32%, and the logistics sector for 17% of South Korean investment in Hai Phong. Photo: LE HIEP

From pioneering projects to the current large-scale manufacturing ecosystem, the Korean business community is increasingly asserting its important role in Hai Phong's industrial development. The commitment and continued expansion of investment by Korean businesses is also one of the indicators of the city's attractive investment environment.

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The Trang Due Industrial Park is considered a "stronghold" for South Korean investors in Hai Phong, with over 60 projects and a total capital of nearly 12 billion USD. Photo: LE DUNG

Expanding new areas of cooperation.

Not content with its past achievements, Hai Phong is gradually shifting its focus from simply attracting foreign investment to attracting technology, innovation, and high value-added industries. This direction aligns with the goal of building the city into a regional industrial, logistics, and innovation hub in the North during this new phase of development.

The recent investment promotion trip to South Korea by the city's delegation, led by Mr. Do Thanh Trung, Deputy Secretary of the City Party Committee and Chairman of the City People's Committee, is one of the concrete activities to realize that orientation. Besides strengthening relationships with traditional investors, the city is also proactively seeking opportunities for cooperation in sectors that are leading the development trends of the global economy, such as artificial intelligence, semiconductors, cloud computing, green energy, and digital infrastructure.

During the trip, the delegation attended numerous investment promotion forums and conferences, and worked with leading Korean corporations, businesses, and economic organizations such as LG, SK, K-Water, Megazone Cloud, Furiosa AI, KTNF, etc. Through this, Hai Phong not only promoted its investment environment and new competitive advantages but also accessed partners, technologies, and development models suitable for its growth orientation in the coming period.

Based on that orientation, at the Hai Phong - South Korea Investment Promotion Conference in 2026, Mr. Pham Van Thep, Member of the Standing Committee of the City Party Committee and Head of the Hai Phong Economic Zone Management Board, invited Korean corporations and businesses to invest in five strategic areas: next-generation electronics and semiconductor industry; green energy and hydrogen economy; artificial intelligence, cloud computing and digital economy; international logistics and regional distribution centers; marine economy, port services and renewable energy.

These orientations have initially been concretized through the results of cooperation achieved within the framework of the working trip. At the Hai Phong - South Korea Investment Promotion Conference in 2026, many cooperation agreements in the fields of artificial intelligence, digital transformation, ESG governance, green industrial park development, and water resources were signed. The Hai Phong Economic Zone Management Board also awarded investment registration certificates to 3 new projects with a total investment capital of 55 million USD.

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Also at the Hai Phong - South Korea Investment Promotion Conference 2026, from Seoul, Mr. Do Thanh Trung, Deputy Secretary of the City Party Committee and Chairman of the City People's Committee, emphasized that this conference is not only an economic forum but also a testament to the continued strategic trust between Hai Phong and the South Korean business community. This foundation has been built upon more than 320 projects with a total investment of nearly 15.5 billion USD, contributing to making South Korea the largest investor in Hai Phong.

According to the Chairman of the People's Committee of Hai Phong City, Hai Phong is approaching Seoul with new driving forces for breakthroughs: an economy maintaining high growth rates for many consecutive years; an investment environment that ranks first in the country in terms of administrative reform; and the Hai Phong Free Trade Zone with its unique and superior preferential mechanisms. The city is committed to continuing to create a safe, transparent, and open investment environment so that investors can confidently implement their long-term business strategies.

Building on the foundation of cooperation cultivated over the years, coupled with the city's new development potential, Hai Phong has further grounds to expect an expansion of the presence of Korean businesses in the coming period. This represents not only an increase in investment scale but also an opportunity for the city to further consolidate its position as one of the leading industrial centers and foreign investment magnets in the country.

LE HIEP

Source: https://baohaiphong.vn/ky-vong-moi-ve-dong-von-han-quoc-545335.html