Samsung's Plan to Expand in Vietnam, Build Largest Display Module Base

TapTechNews July 4th news, Vietnamese Prime Minister Pham Minh Chinh recently visited South Korea and met with Lee Jae-yong, the president of Samsung Electronics.

Lee Jae-yong mentioned at the meeting that he plans to invest heavily in Vietnam in the next three years and make the Vietnam factory into Samsung's largest display module production base.

The Korean media Chosun Ilbo believes that Lee Jae-yong's statement implies that Samsung Display is expected to build a panel back-end processing line配套 to its 8.6-generation IT OLED production line in Vietnam.

Samsung Display has spent 4.1 trillion Korean won (TapTechNews note: currently about 21.509 billion Chinese yuan) to start building an 8.6-generation IT OLED production line in Asan, Chungcheongnam-do, South Korea in March this year.

The production line aims to start production in 2026, with an annual capacity of up to 10 million 13.3-inch display panels.

Lee Jae-yong also said at the meeting: The success of Vietnam is the success of Samsung, and the development of Vietnam is the development of Samsung. And behind this is that Samsung has become Vietnam's largest foreign investor and exporter:

Samsung Group has cumulatively invested 22.4 billion US dollars (currently about 17.494 billion Chinese yuan) in Vietnam and has about 90,000 employees locally; the export volume of the Samsung Vietnam branch reached 55.7 billion US dollars (currently about 405.998 billion Chinese yuan) in 2023.