According to Vietnamese media Lao Dong reported on the 6th, Samsung Electronics President Lu Taiwen met with Vietnamese Prime Minister Pham Minh Chin to prepare for the layout of Vietnam. Samsung Electronics will establish a new R&D center in Hanoi, Vietnam in the fourth quarter of this year or early next year, and plans to start in the middle of next year. Vietnam produces wafers and expands the production layout of semiconductor wafers in Vietnam.
The report pointed out that Samsung Group is planning the production conditions for wafer trial production. It is scheduled to mass-produce wafers at Samsung Electro-Mechanics Vietnam’s Thai Nguyen plant in July 2023. It will open an R&D center in Hanoi at the end of 2022 and early 2023. The Vietnam R&D center will be the main R&D center in Southeast Asia. At present, about 85% of the progress of the establishment of the R&D center has been completed.
Samsung President Roh Tae Van said that Samsung plans to invest another US$3.3 billion and promote cooperation with Vietnamese universities and research institutions. Vietnamese Prime Minister Pham Minh Chin believes that Samsung has developed efficient business in the field of mobile phones and home appliances, and semiconductor production is expected to form a Samsung electronic product production supply chain in Vietnam.
In the first half of this year, Samsung’s export revenue from Vietnam was 34.3 billion US dollars, an annual increase of 18%. Samsung Group’s target revenue this year is 69 billion US dollars, which is equivalent to 20.5% of Vietnam’s export of 336.31 billion US dollars last year. South Korea’s dependence on Vietnam is Vietnam’s third largest trading partner after China and the United States. About 60% of Samsung’s mobile phones are produced in Vietnam. As of June 2022, Samsung Group has invested more than 20 billion US dollars.
In addition to Vietnam, Samsung Electronics will also build a new wafer foundry in the United States, and has recently applied for additional expansion sites. Samsung aims to triple its semiconductor chip production capacity by 2026.