South Koreans Samsung and LG are recruiting massively in Vietnam | Economy

Hanoi (VNA) – Samsung currently has more than 170,000 employees at its factories in Bac Ninh, Thai Nguyên, Ho Chi Minh City … Meanwhile, LG’s production facility expansion project is expected to create around 5,000 new ones. jobs in Hai Phong.

In the Samsung Electronics Vietnam (SEV) factory in Bac Ninh. Photo: news.samsung.com

According to Digitimes Asia, alongside the investment of $ 230 million to build a research and development (R&D) center in Hanoi, Samsung will recruit 2,200 to 3,000 employees. The project, which is expected to come into operation in 2022, will be the largest R&D center in Southeast Asia.

A US $ 1.5 billion home appliance, smartphone and car factory of South Korean electronics giant LG Electronics in Hai Phong is also in the process of recruiting engineers and workers.

Earlier this year, LG Display announced plans to expand its organic light-emitting diode display production base in Vietnam. This capital injection will bring LG Display’s cumulative investment in Vietnam to $ 3.25 billion.

In particular, it will be the largest foreign-invested project in Hai Phong to date. This investment plan will create 5,000 new jobs, as well as millions of dollars to contribute to the city’s economy.

Currently, LG Display in Hai Phong is recruiting positions such as lawyers, consultants, engineers for research and development, production, technology, IT …

To date, Samsung has invested more than $ 17.5 billion in Vietnam, with more than 170,000 jobs created. Samsung has production facilities in Ho Chi Minh City, Hanoi, Bac Ninh and Thai Nguyen, specializing in manufacturing laptops and home appliances.

In 2020, Vietnam’s export turnover reached $ 282.65 billion, and Samsung accounted for more than 20% of the total, or about $ 57 billion.

LG and Samsung are the main exporters in Vietnam. In the first seven months of 2021, Vietnamese exports of wearable devices and spare parts grew 12 percent year-on-year to $ 29.4 billion, or about 15.8 percent of total domestic exports.

Notably, exports of laptops, spare parts and other electronic devices increased 16.5% from the same period last year, reaching $ 27.4 billion. According to a report by the General Statistics Office, the Republic of Korea was the largest foreign investor in Vietnam as of August 20, with more than 9,100 active projects totaling 72.16 billion USD.

Trade between Vietnam and the Republic of Korea was $ 42.2 billion, or 11.25% of total trade turnover in the first 7 months of the year, compared to $ 35 billion. dollars in the same period of 2020.

In May 2015, Vietnam and the Republic of Korea also officially signed the Free Trade Agreement (VKFTA). It is the first among bilateral free trade agreements between Vietnam and its economic partners. The VKFTA also removed tariffs on almost 90% of goods imported from the Republic of Korea for 15 years, starting in 2015. – CPV / VNA

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