Haengsung Electronics granted license to build plant manufacturing electronics components.
Haengsung Electronics Vietnam has recently been granted an investment license to build a plant manufacturing electronics components in the northern city of Hai Phong.
Construction of the $100 million plant, on an area of 10 ha at the Trang Due Industrial Zone, is expected to be completed in February 2016 with the plant to go into operation in January 2017.
“The process of deciding on this investment was quite quick,” Mr. Huh Maeng, President of Haengsung Electronics, told the ceremony for granting the license. The company conducted market research earlier this year and signed a land lease contract in March. “Completing the necessary procedures to be granted the investment license also took place within a very short period of time,” he added.
The annual capacity of the factory is expected to be more than 4.77 million sets of electronic boards, 6.86 million sets of electronic circuit boards for mobile phones, 3.96 million sets of IVI electronic boards, and over 2 million microchips for home appliances. It also will create about 500 jobs.
The Haengsung Electronics plant will be the largest satellite factory to supply electronic spare parts to the LG electronics complex at the Trang Due IZ.