Hyosung Vice Chairman Jo Hyun-sang "Additional Investment of Over 2 Trillion Won in Vietnam This Year"
by Lee Hyeonjoo
Published 18 Jan.2024 20:02(KST)
Revealed at the Swiss Davos Forum
First Entry into Vietnam in 2007
Total Investment of 4.7 Trillion KRW
Hyosung Group is reportedly planning an additional investment of over 2 trillion won in Vietnam this year.
On the 18th, according to local Vietnamese media, Cho Hyun-sang, Vice Chairman of Hyosung Group, attending the World Economic Forum (WEF, Davos Forum) held in Davos, Switzerland, announced plans to invest $2 billion (approximately 2.7 trillion won) in Vietnam this year.
Vice Chairman Cho reportedly stated at a discussion hosted by Vietnamese Prime Minister Pham Minh Chinh the previous day, "Hyosung plans to increase its total investment in Vietnam to $5.5 billion (approximately 7.4 trillion won) this year."
Hyosung, which entered Vietnam in 2007, has invested a total of $3.5 billion (approximately 4.7 trillion won) to date and employs about 9,000 local workers across Hanoi, Ho Chi Minh City, southern Dong Nai Province, and Ba Ria-Vung Tau Province.
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