South Korean Corporations Shift Focus to Vietnam Amid Geopolitical Risks
Major South Korean conglomerates are strategically enhancing Vietnam's role as a secondary global hub, driven by geopolitical uncertainties and investment in R&D, energy, and mobility sectors. This shift reflects a broader effort to secure alternative production sites and leverage local resources while establishing significant operational bases in the region.
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South Korean conglomerates are increasingly viewing Vietnam as a strategic hub. Samsung Electronics is investing significantly in a Samsung Innovation Campus in Thai Nguyen, aiming to transform the region into an R&D center for AI and semiconductors with plans for trillion-won investments.
SK Group is advancing a $2.3 billion LNG project to capitalize on Vietnam's carbon neutrality policies. Hyundai and LG are expanding their production capabilities for electric vehicles and electronic components in Vietnam to challenge existing market dynamics. This convergence is motivated by the need to mitigate geopolitical risks, establish cooperative frameworks with over 200 companies, and harness local labor and government support for growth.
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