Samsung Electronics CEO Han Jong-hee visits Vietnam

Han Jong-hee, vice chairman cum CEO of Samsung Electronics

According to Koreatimes, Han arrived in Hanoi on Monday to inspect the manufacture of Galaxy 22 smartphones. In December, Samsung Electronics combined its smartphone and consumer electronics businesses into the mobile experience division. This is Han's very first business trip to Vietnam since that time. Until October 2020, Han was the only formal visitor to the Southeast Asian country. He joined Samsung's de-facto leader Lee Jae-yong on a business trip at the time.

Samsung Electronics declined to comment on Han's itinerary for his trip to Vietnam, claiming that it is "confidential”, Koreatimes reported.

Samsung Vietnam now operates six production facilities in Bac Ninh, Thai Nguyen, and Ho Chi Minh City, as well as a fresh research and development (R&D) centre and a sales entity in Hanoi.

In Samsung's long-term strategy, Vietnam is moving beyond its status as a significant global manufacturing base and evolving into a strategic R&D hub. With an expenditure of up to $220 million, Samsung is now constructing a new R&D centre in Hanoi, which will help cement the company's capability. The new R&D Center is scheduled to open around the end of 2022 and will concentrate on emerging global technological trends such as AI, big data, and IoT.

In 2020, 61 per cent of the company's smartphones in the Southeast Asian country. Bac Ninh and Thai Nguyen provinces, which are situated just north of Hanoi, are home to the majority of Samsung Electronics Vietnam’s factories.

Regarding its fiscal year 2021 results, Samsung Vietnam saw a rise in sales and exports in 2021 compared to 2020. Specifically, Samsung Vietnam's revenue increased by 14 per cent from 2020 to $74.2 billion in 2021, while export turnover increased by 16 per cent on-year to reach $65.5 billion in 2021.