It is the largest Korean investment in Ha Nam province to date.
On July 15, representatives of the company and Ha Nam Provincial People’s Committee signed an agreement to develop the project.
The construction is expected to kick off in August and will be divided into two phases. The first phase will have a total capital of $147 million, while the remaining $153 million will be disbursed during the second phase.
According to a representative of SSC, the factory will be equipped with multi-polarization technology as well as other modern technologies aiming to economically manufacture energy-saving, high-brightness products.
Once the factory comes into operation, it will create 3,000 jobs. The revenue in the first year of operation is expected to reach $150 million and $200 million in the second year. The figure will increate to $400 million and $500 million in the third and fourth years, respectively.
Established in 1992, SSC specialises in manufacturing semiconductors and LED lighting equipment used to manufacture computers, television, and mobile phones. Its products are present in more than 60 countries over the world. Notably, its LED products rank make up one fourth of the world’s total market share.
Currently. the company has six factories in Korea, Japan, China, the US, and Germany.
In May 2015, Korean-invested KMW Vina Co., Ltd. began the construction of a $100 million plant producing telecom and LED lighting equipment, both for the local market and export, in Ha Nam.
Covering over 30 hectares at Dong Van 1 Industrial Park, the factory is expected to produce 220,000 telecommunications and radio engineering devices and 380,0000 pieces of LED lighting equipment a year, as well as create jobs for 5,000 workers.
The project will be implemented in 36 months and stay valid for 50 years.