KTĐT - Republic of Korea's Seoul Semiconductor Company plans to invest 300 million USD to develop a semiconductor and LED lighting equipment manufacturing factory in Dong Van 1 Industrial Park in the northern province of Ha Nam. It is the largest Korean investment in the locality up to now.
Representatives of the Korean Seoul Semiconductor Company and People’s Committee of Ha Nam province have signed an agreement to develop a semiconductor and LED lighting equipment manufacturing factory in Dong Van 1 Industrial Park on July 15.
At the signing ceremony.
The construction is expected to commence in August and will be divided into two phases.
The first phase will have a total capital of 147 million USD, and the remaining 153 million USD will be disbursed during the second phase.
According to the Seoul Semiconductor Company, the factory will be equipped with multi-polarization and modern technology with the aims to economically manufacture energy-saving, high-brightness products.
Once the factory comes into operation, it will generate jobs for 3,000 workers. In the first year of operation, its revenue is expected to reach 150 million USD and 200 million USD in the second year. The figure will increate to 400 million USD and 500 million USD in the third and fourth years, respectively.
Established in 1992, Seoul Semiconductor Company specialises in manufacturing semiconductors and LED lighting equipment used to manufacture computers, television, and mobile phones. Its products are present in more than 60 countries worldwide.
Particularly, its LED products account for one fourth of the world’s total market share.
Currently, the company has six factories in Korea, Japan, China, the US, and Germany.
Earlier, Korean-invested KMW Vina Co., Ltd. began the construction of a $100 million plant producing telecom and LED lighting equipment in Ha Nam province in May 2015. The project will be implemented in 36 months and is expected to create jobs for 5,000 workers when the factory comes into operation.
Covering over 30 hectares at Dong Van 1 Industrial Park, the factory is expected to produce 220,000 telecommunications and radio engineering devices and 380,0000 pieces of LED lighting equipment per year.