South Korean electronics giant Samsung Display Co. announced plans to invest an additional $1.8 billion to establish a new factory in northern Vietnam, aimed at producing OLED displays for automotive and technology applications. The announcement came from the Vietnamese government on Sunday following a meeting between Prime Minister Pham Minh Chinh and Choi Joo Ho, General Director of Samsung Vietnam.
The new facility will be situated in the Yen Phong industrial park in Bac Ninh province, located east of Hanoi and adjacent to an existing Samsung electronics plant. Local authorities reported that Bac Ninh and Samsung Display also signed a memorandum of understanding to formalize the project.
This latest investment will increase Samsung’s total commitment in Bac Ninh to $8.3 billion, up from the current $6.5 billion. Over the past decade, Vietnam has become a key production hub for electronics manufacturers, attracting significant foreign investment.
Choi highlighted that Samsung has established six manufacturing plants, one research and development center, and one sales office in Vietnam, with a total investment of $22.4 billion to date.
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