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Vietnam’s appeal

According to the General Statistics Office, in the first 11 months of 2024, the RoK ranked second among the 110 countries and territories investing in Vietnam, contributing US $3.89 billion, equivalent to 12.4% of total FDI, despite a 9% decline compared to the same period last year.

Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham).

When explaining the reasons why Vietnam has become an attractive investment destination for RoK investors, Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham), highlighted several factors. In addition to political stability and a favorable geographical location, Vietnam’s economic growth stands out in the regional and global contexts.

Vietnam is focusing on large-scale infrastructure projects, such as the expressway system, the North-South high-speed railway, regional railway connections, the revival of nuclear power projects, and the development of major seaports. Furthermore, Vietnam prioritizes the development of the digital economy, green economy, circular economy, innovation, and startups. The Vietnamese government has introduced numerous tax incentives, and business support policies, and regularly engages in dialogues with foreign enterprises.

In particular, Vietnam shares many cultural and social similarities with the RoK, including traditions, religious practices, and social values. This familiarity fosters a sense of ease and confidence for RoK investors, making Vietnam a preferred destination for business operations.

According to Hong Sun, Vietnamese people are hardworking, creative, and willing to take on challenges. Having lived and worked in Vietnam for over 30 years, he has witnessed the country’s resilience through difficult times. He cited the recovery efforts after Typhoon Yagi as an example, where Vietnamese businesses maximized their efforts to restore production as quickly as possible. This spirit builds trust and creates a stable, reliable business environment for investors.

Promising investment sectors

Due to these favorable conditions, RoK investors have maintained their presence in Vietnam and expanded into high-value sectors.

According to Hong Sun, RoK investments in Vietnam will become even more diverse in 2025. Beyond manufacturing and processing, large-scale billion-dollar projects in energy and semiconductor industries are emerging. Vietnam has significant potential for semiconductor industry development, attracting the attention of major RoK companies that are exploring opportunities to expand semiconductor supply chains in the country.

In particular, RoK investors are eager to participate in key infrastructure projects that the Vietnamese government is planning, including the North-South high-speed railway, urban railway systems, nuclear power, and gas-fired power projects.

“We are waiting for the Vietnamese government to review and approve projects that RoK businesses can collaborate on. If these prospects are favorable, we expect RoK investment in Vietnam to reach a record high,” said Hong Sun in Business Forum Magazine.

New investment sectors in Vietnam are also attracting the attention of RoK investors, as highlighted by Choi Joo Ho, General Director of Samsung Vietnam, and his successor, Na Ki Hong, during their meeting with Prime Minister Pham Minh Chinh on February 12.

Samsung’s R&D Center in West West Lake (Tay Ho Tay), Hanoi.

They said that in addition to traditional investment areas, Samsung plans to expand its presence in new sectors such as artificial intelligence (AI), semiconductor manufacturing, and digital transformation in Vietnam. Currently, Samsung is the largest foreign direct investor in Vietnam, with a total registered investment capital of US $23.2 billion. In 2024, Samsung recorded revenues of US $62.5 billion and exports of US $54.4 billion.

With a diversified investment portfolio and strong confidence in Vietnam’s stable business environment, RoK investment is expected to continue growing. This trend presents opportunities for Vietnamese enterprises to integrate into the global supply chain while also serving as a driving force for sustainable economic growth.

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