New prospects emerge for South Korean investment in Hai Phong
Nearly USD 15.5 billion in investment and more than 320 active projects have not only made South Korea the largest foreign investor in Hai Phong but have also laid the groundwork for new areas of cooperation.
South Korean capital becomes a growth driver
According to the Hai Phong Economic Zone Authority (HEZA), South Korea currently ranks first among foreign investors in Hai Phong, with more than 320 active projects and total registered capital of nearly USD 15.5 billion, accounting for almost 30% of the city's total FDI stock. Within industrial parks and economic zones, South Korean companies have invested around USD 14.66 billion through more than 168 projects.
Among them, the LG complex, with total investment exceeding USD 10.6 billion and a workforce of more than 31,000, is regarded as a flagship symbol of economic cooperation between Hai Phong and South Korea. Alongside LG, several major South Korean corporations and companies have also chosen Hai Phong as an investment destination, including SK with around USD 500 million, Hyundai with approximately USD 450 million, Heesung with USD 279 million and Haengsung with USD 135 million.
The investment structure also underscores the prominent role of technology and manufacturing industries in South Korean capital flows into Hai Phong. Electronics account for around 34%, followed by machinery and equipment manufacturing at 32% and logistics at 17%, while the remainder is distributed among chemicals, plastics, packaging, textiles, footwear and other sectors.
In addition to providing substantial capital, South Korean companies have helped facilitate technology transfer, expand export markets, enhance manufacturing capabilities and create jobs for tens of thousands of workers.
Expanding new areas of cooperation
Building on these achievements, Hai Phong is gradually shifting its focus from attracting investment capital alone to drawing technology, innovation and high value-added industries. The approach aligns with the city's ambition to become a leading industrial, logistics and innovation hub in northern Vietnam in the next stage of development.
A recent investment promotion trip to South Korea by a city delegation led by Do Thanh Trung, Deputy Secretary of the Hai Phong Party Committee and Chairman of the Hai Phong People's Committee, reflected that strategy. In addition to reinforcing ties with existing investors, the city actively sought cooperation opportunities in sectors shaping global economic trends, including artificial intelligence, semiconductors, cloud computing, green energy and digital infrastructure.
During the trip, the delegation attended a number of investment forums and conferences and held meetings with leading South Korean corporations, businesses and economic organizations, including LG, SK, K-Water, Megazone Cloud, Furiosa AI and KTNF. The engagements enabled Hai Phong not only to promote its investment environment and emerging competitive strengths, but also to gain access to partners, technologies and development models aligned with its growth strategy for the years ahead.
At the 2026 Hai Phong-South Korea Investment Promotion Conference, Pham Van Thep, member of the Standing Committee of the Hai Phong Party Committee and head of HEZA, invited South Korean corporations and businesses to invest in five strategic sectors: next-generation electronics and semiconductors; green energy and the hydrogen economy; artificial intelligence, cloud computing and the digital economy; international logistics and regional distribution hubs; and the marine economy, port services and renewable energy.
These priorities have begun to translate into concrete outcomes. During the conference, a number of cooperation agreements were signed in areas including artificial intelligence, digital transformation, ESG governance, green industrial park development and water resource management. HEZA also granted investment registration certificates to three new projects with combined capital of USD 55 million.
Building on a foundation of cooperation developed over many years and supported by the city's new growth potential, Hai Phong has further reason to expect an expanded presence of South Korean businesses in the years ahead.
Hai Phong News