Samsung Show’s Asan 1 Campus situated in Asan metropolis, South Chungcheong Province / Courtesy of Samsung Show
South Korea’s Samsung Show Co plans to speculate $1.8 billion for a manufacturing unit in northern Vietnam to supply OLED shows for cars and know-how gear, the Southeast Asian nation stated on Sunday.
The brand new facility for the manufacture of natural light-emitting diode (OLED) shows will likely be situated in Yen Phong industrial park in Bac Ninh province east of Hanoi and near an present Samsung Electronics plant, the federal government stated in a press release launched after the assembly between Prime Minister Pham Minh Chinh and Choi Joo Ho, the Basic Director of Samsung group in Vietnam.
Samsung Show is a unit of Samsung Electronics, the flagship of the Samsung group.
Bac Ninh authorities and Samsung Show additionally signed on Sunday a memorandum of understanding of the venture, native media reported, including the funding would elevate the Samsung group’s whole funding in Bac Ninh to $8.3 billion from the present $6.5 billion.
The Samsung group didn’t instantly reply to a request for remark.
Vietnam has during the last decade emerged as probably the most engaging manufacturing hubs for electronics firms.
In response to Choi, the Samsung group has established six manufacturing crops, one analysis and growth centre, and one gross sales entity in Vietnam, with a cumulative funding of $22.4 billion. (Reuters)
