South Korea’s Amkor Technology, Inc will embark on the first-stage construction of its plant at Yen Phong II-C Industrial Park (IP) in the northern province of Bac Ninh in the first quarter of next year, provincial authorities announced.

Accordingly, the Korean company will invest US$1.6 billion between now and 2035 to build a plant to manufacture, assemble and test semiconductor products on a site of 23ha in the IP.

In the first quarter of 2022 and the first five years, it will pour $520 million into assembling and testing solutions for the world’s leading electronics and semiconductor manufacturers.

The provincial authorities pledged to offer all possible support for the project to put it into operation on schedule.

According to the provincial Department of Planning and Investment, Bac Ninh granted new licences to 108 projects with total registered capital of over $535 million from the beginning of this year to October 18.

It also recorded an additional $132 million invested in 76 existing projects and more than $145 million in capital contributions and share purchases. The province revoked 35 projects worth over $223 million.

As of October 18, Bac Ninh had granted licences to 1,704 valid foreign projects valued at more than $20.4 billion. — VNS