SK Group acquires Iscvina Manufacturing for $300 million

October 21, 2024 | 18:56

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South Korean conglomerate SK Group has acquired a semiconductor company in the northern province of Vinh Phuc in a deal worth $300 million.

SK Group spends $300 million to acquire a company in Vinh Phuc

Hang Sung Won, manager, SK Group Vietnam (left) and Tran Duy Dong, Chairman, Vinh Phuc People's Committee. Photo: Vinh Phuc People's Committee

SK Group spent $300 million to acquire Iscvina Manufacturing Co., Ltd., which specialises in semiconductor manufacturing and trading and is a supplier for several high-tech corporations. The company is operating in Ba Thien 2 Industrial Park.

This information was revealed at a meeting in Vinh Phuc on October 9 between Tran Duy Dong, Chairman of Vinh Phuc People's Committee, and Hang Sung Won, manager of SK Group in Vietnam.

Won spoke of his appreciation for the investment climate in Vinh Phuc, especially the supportive policies for business. However, he also pointed out some challenges in scaling up investment and scouting workers for Iscvina Manufacturing.

"We propose Vinh Phuc province facilitates the recruitment of high-quality workers for the firm. At the same time, we hope the province creates new advantages for SK Group to research opportunities to expand investment in the locality," said Won.

Chairman Dong noted that South Korea is the largest foreign investor in the locality, with 200 companies investing a total of $3 billion.

"Vinh Phuc is attracting investments in high-tech industries such as semiconductors and electronics, along with industrial real estate and tourism. We hope Vinh Phuc will be the first locality in Vietnam to receive direct investment from SK Group," he added.

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By Thanh Van

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