Samsung Invests Additional $1.8 Billion in OLED Manufacturing Plant in Vietnam, Reports Reuters

HANOI (Reuters) – South Korean electronics manufacturer Samsung Display Co has announced plans to invest $1.8 billion this year to establish a factory in northern Vietnam for the production of OLED displays for automobiles and various technology equipment, according to a statement from the Vietnamese government on Sunday.

The new facility will be situated in the Yen Phong industrial park in Bac Ninh province, located east of Hanoi and in proximity to an existing Samsung electronics plant. This development was revealed following a meeting between Prime Minister Pham Minh Chinh and Samsung Vietnam’s General Director Choi Joo Ho.

In addition, local authorities in Bac Ninh and Samsung Display signed a memorandum of understanding regarding the project on Sunday. Reports indicate that this investment will increase Samsung’s total contribution in Bac Ninh from $6.5 billion to $8.3 billion.

Vietnam has become a significant manufacturing hub for electronics companies over the past decade. As noted by Choi, Samsung has established six manufacturing plants, one research and development center, and one sales office in Vietnam, amassing a total investment of $22.4 billion.