South Korean conglomerate Hyosung Group is expanding its manufacturing presence in central Vietnam, with subsidiary HS Hyosung Quang Nam signing a land-rent contract with the Chu Lai Industrial Zone Authorities to build a new production facility.
Construction at the Tam Thang Expanded Industrial Park is set to begin in the first quarter of 2026, with the plant expected to be operational by the end of the year. The USD 100 million facility will produce polyester curtain fabric and industrial fiber, including nylon fabric for car airbags, with a designed monthly capacity of 6,750 tonnes serving both domestic and export markets.
The new plant builds on Hyosung’s existing footprint in the region, which dates back to 2019. Since entering what was formerly Quang Nam Province, now merged with Da Nang city, the company has invested more than USD 450 million across two projects and created 1,500 local jobs. Its earlier operations focused on high-strength industrial materials for the automotive sector, including tire cords and seat belt materials.
South Korea remains the largest foreign investor in Da Nang and a key partner in the city’s digital transformation and innovation plan through 2030. The city has been actively courting Korean investment in ICT, semiconductors, and AI as part of its ambition to become a regional hub for innovation. Approximately 250 Korean businesses are currently operating across Hue, Da Nang, and Quang Ngai, with more investors from South Korea reportedly eyeing the region.
(Source: Happy Vietnam)
