Among the 42 countries and territories registered with FDI in Hai Phong’s industrial zones and economic zones, South Korea remains the top investor both in project count and capital (111 projects with USD 13 billion), accounting for over 46% of total investment in the city’s industrial and economic zones. Consequently, Korean investors have become highly valued “honored guests,” receiving special promotion efforts and incentives from the city, which aims to attract even more high-quality Korean investment waves to Hai Phong in the future.
Expanding Potential Projects
Recently, South Korea’s Jeil Group held the groundbreaking ceremony for the Jeil Logistics 1 project at Nam Dinh Vu Industrial Park. The investment certificate was issued at the end of 2022, with a total investment of over USD 44.5 million on nearly 80,000 m² of land. According to CFO Kim Eun‑Sook, Jeil Group is highly impressed with Hai Phong’s open investment environment, deep-water port—the largest in the North—and convergence of five modes of transport. These advantages underpin their decision to build and operate a high-tech Korean logistics center here. The project not only enhances economic exchange between Vietnam and Korea but also significantly contributes to the development of Hai Phong’s logistics sector, helping position it as a major logistics hub in Northern Vietnam.
Earlier, when meeting with the Hai Phong Economic Zone Authority, leaders of Korean businesses in Trang Due Industrial Park reported fast-tracking new projects for 2025. LG Electronics Vietnam Hai Phong is rapidly building its fourth factory and preparing to launch new products in June 2025, expecting a 17% revenue increase and hiring thousands of new employees. LG Display Vietnam Hai Phong, after receiving a USD 1 billion capital injection in late 2024, plans to expand production to meet surging market demand. LG Innotek Vietnam Hai Phong and Heesung Electronics Vietnam Hai Phong also have significant new plans for 2025. All corporate leaders praised Hai Phong’s investment environment, highlighting timely and effective city support.
According to the Hai Phong Economic Zone Authority, Korean investment in Hai Phong is noteworthy not just for volume but for quality—the focus is on high-tech sectors integrated into global supply chains, especially electronics, automotive parts, and machinery. Achievements from Korean projects clearly demonstrate Hai Phong’s attractiveness as an investment destination.
Ensuring Maximum Support for Investors
In recent years, Hai Phong has consistently prioritized creating the best possible conditions for foreign investors, particularly Korean ones, beyond its transport and port advantages. The city has accelerated administrative reforms, shortened investment procedures, improved investment promotion quality, and introduced innovative and effective promotion methods. These include direct investment promotion conferences held in Seoul, attended by hundreds of Korean corporations, and high-level meetings between city leaders and top Korean firms, accompanied by Hai Phong’s “red carpet” commitment on environment and policy.
At the recent “Vietnam–Korea Friendly Exchange Program 2025” in Hai Phong, Korean Consul General and Deputy Ambassador Chang Ho‑Seung affirmed that Hai Phong is the largest port city in the North with significant investment appeal. He lauded LG Group’s effective investment, which has created local jobs and exported products globally. Besides LG, many Korean companies operating in Hai Phong actively cooperate with Vietnamese firms and participate in social welfare activities, demonstrating corporate responsibility. The Korean Embassy will continue to coordinate closely with the city, actively supporting corporate investment activities to further enhance bilateral cooperation.
Le Trung Kien, Head of the Hai Phong Economic Zone Authority, stated that Hai Phong’s potential for attracting FDI in the coming period remains vast, especially as the Southern Coastal Economic Zone is being developed. The city expects Korean businesses and investors to recognize the vibrant and dynamic investment environment, make investment strategy decisions, and lay the groundwork for projects in Hai Phong generally and in the Southern Coastal Economic Zone particularly—where they can benefit from outstanding incentives. In doing so, the port city will continue to be a “land of promise” and a brilliant success destination for Korean investors.