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Korean-invested optics maker Haesungvina said on Tuesday it had pumped an additional US$20 million into more than doubling its output in Viet Nam.—Illustrative image
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HA NOI (Biz Hub)— Korean-invested optics maker Haesungvina said on Tuesday it had pumped an additional US$20 million into more than doubling its output in Viet Nam.
The cash injection will bring the company's total investment capital in Viet Nam to $36 million and help it produce 25 million optical products per year.
The completely foreign owned company, a subsidiary of Korean Haesung Opitics Co Ltd, also plans to expand its production facility in the northern province of Vinh Phuc from 14ha to 35ha.
The main supplier of camera lenses for Samsung Electronics said that after completing the additional investment, it will recruit 700 more employees, bringing its total workforce in Viet Nam to 1,300.
Chairman of Vinh Phuc Province Phung Quang Hung said the province has created favourable policies to help the company operate efficiently and even "cleared land for the company to expand its production facility."
Haesungvina has been operational in Viet Nam for more than a year. Its parent company in South Korea, founded in 1988, specialises in optics for mobile phone cameras, camcorder finder optics and DVD optical lenses. — VNS