South Korea's Hana Micron eyes $1B microchip investment in Vietnam

The company, which specializes in chip packaging and memory products, told Nikkei Asia that it is currently installing equipment in its second factory in Vietnam in the northern province of Bac Giang. Its first factory was completed last year.

The plant was built last month on an area of six hectares, and Hana targets annual revenues of $800 million from it by 2025 when it will employ 4,000 workers.

It has so far invested $600 million in Vietnam and plans to increase the figure to $1 billion by 2025.

It is partnering with the Vietnam-Korea Industrial Technical College for training and recruitment.

Vietnamese government agencies recently signed three memorandums with U.S. businesses to help enhance their semiconductor design and production capabilities and train personnel.

There are 40 companies in the semiconductor industry in Vietnam, 38 of them foreign-owned.