Compiled by Thu Trà

HÀ NỘI — South Korea’s second-largest conglomerate, SK Group, has revealed plans to invest billions of dollars in Việt Nam, marking a significant return of Korean investments.

During a recent meeting with Party General Secretary Tô Lâm, SK Group Chairman Chey Tae-won outlined the company’s ambitions to partner with Việt Nam on energy projects, with a particular focus on LNG infrastructure, hydrogen energy and small modular nuclear reactors.

In addition, SK Group was eager to explore opportunities in AI-ready data centres, high-tech agriculture and logistics. 

Chey said that these initiatives would have a positive impact on Việt Nam’s socio-economic development, contributing to energy security, key industry development, investment attraction, CO2 reduction and job generation.

Furthermore, these projects were expected to improve the trade balance between Việt Nam and major global economic partners through the import of raw materials, according to Chey.

The large-scale projects would likely spread across Việt Nam’s northern, central and southern regions, with potential sites including the Nghi Sơn-Quỳnh Lập, Cà Ná and Mekong Delta areas, baodautu.vn reported.

SK Group, a diversified conglomerate with a market capitalisation nearing US$200 billion, ranks as South Korea’s second-largest company and among the top 100 global corporations. In 2024, the group reported revenues exceeding $150 billion.

In Việt Nam, SK Group has invested $3.5 billion across various sectors and established subsidiaries in priority areas, including a $500 million high-tech biodegradable materials plant in the northern province of Hải Phòng. 

Korean investors return to Việt Nam

South Korea has long been a leading source of foreign investment in Việt Nam. However, in recent years, its dominance has been challenged. In 2024, South Korea ranked second, registering over $7 billion in registered investment. In 2023, it held the fifth spot with $4.4 billion, while in 2022, it was in third place with $4.8 billion.

In a surprising turn of events, South Korea reclaimed its position as the top foreign investor in Việt Nam in January 2025. The country registered $1.25 billion in investment, a dramatic increase from the $93.46 million recorded in January 2024.

As of January 2025, Korean investors had poured a total of $92 billion into Việt Nam, maintaining their lead over other foreign investors. This amount far surpasses Singapore’s $84 billion, securing South Korea's position as the largest investor in the Southeast Asian nation, according to data from the Ministry of Planning and Investment's Foreign Investment Agency.

The shift in Korean investment rankings in January was largely attributed to a significant move by Samsung Display which won approval to inject an additional $1.2 billion into its existing next-generation display manufacturing plant in the northern province of Bắc Ninh.

Samsung said this investment aims to establish Việt Nam as a key production hub for the company’s next-generation displays. 

This factory, which produces new-generation screens, including OLED screens for mobile phones, IT equipment and automotive OLED products, has played a key role in boosting South Korea’s investment figures for the month.

To date, Samsung has invested over $23 billion in Việt Nam and continues to inject billions of dollars annually. With its new plans, more billion-dollar projects are likely to be added to Samsung’s investment portfolio.

Besides Samsung, LG has also been steadily increasing its investments in Việt Nam. Last year, the Korean conglomerate poured billions of dollars into the LG Display project in Hải Phòng. Looking ahead, LG plans to further expand its investments in the country.

Other giants such as Hyosung, Amkor, and Hana Micron are also looking to expand their investment and business in Việt Nam.

After investing $520 million, Amkor decided to invest an additional $1.07 billion into its plant in Bắc Ninh, 11 years ahead of schedule. Recent reports indicate that Amkor's plant is expected to triple its production capacity shortly. 

Jeong Sang Cheol, Chairman of Korea's VIVACE Consulting & Engineering said the current investment environment in Việt Nam offered foreign investors, including those from Korea, attractive opportunities thanks to its solid economic foundation, favourable support policies, strategic location and abundant resources.

In particular, Việt Nam was becoming an important manufacturing centre in Southeast Asia with key industries such as electronics, textiles, footwear and automobiles. 

The strong development of these industries not only helped Việt Nam increase its position on the global manufacturing map but also created great opportunities for investors, especially from South Korea. The chairman told vneconomy.vn

He added that Korean investors benefitted from Việt Nam’s highly skilled, low-cost and productive labour force, as well as its deep integration into global value chains, which helped optimise costs and enhance regional and international competitiveness. — BIZHUB.VN/VNS

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