South Korean electronics manufacturer Samsung plans to invest USD 1.8 billion in the construction of factory for OLED displays in Vietnam, announced ag. Reuters.
According to him, production will be located in the northern part of the country, near the existing Samsung plant. Against this background, the agency notes that over the past decade, Vietnam has become one of the most popular places to locate production for technology companies. So, to date, Samsung has located six factories in this country, as well as a research and development center. The total investment of the South Korean corporation in Vietnam reached 22.4 billion USD.
In July, Samsung reported a record 15-fold increase in operating profit in the second quarter compared to the same period last year. Operating profit for the period from April to June was 10.4 trillion won (about 7.5 billion USD). In the second quarter of 2023, the figure was 668 billion won (US$487 million).
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