South Korea's Hyosung to build new plant in Đà Nẵng

South Korea's Hyosung to build new plant in Đà Nẵng

South Korean firm HS Hyosung Quảng Nam plans to start construction on the polyester curtain fabric and industrial fibre production plant at the Tam Thăng Expanded Industrial Park with an investment of US$100 million in the first quarter of 2026, and expects the plant to be operational by the end of this year.

A land-rent contract signing between South Korean firm HS Hyosung Quảng Nam and the Chu Lai Industrial Zone Authorities on the development of a new polyester curtain fabric plant in Tam Thăng Expanded Industrial Park. — Photo courtesy of Đà Nẵng Portal

The company, under Hyosung Group, has signed a land-rent contract with the Chu Lai Industrial Zone Authorities for an expansion of its investment in central Việt Nam, which started with the introduction of its first plant in 2019.

The new plant was designed with a capacity of 6,750 tonnes of products per month, including polyester curtain fabric and nylon fabric for car airbags, made for both domestic and export markets.

In the first phase of investment, the South Korean company produced high-strength industrial materials for the automotive support industry, including tyre cords, seat belt materials and airbag fabric.

HS Hyosung Quảng Nam has invested more than $450 million since it set up a footprint in the former Quảng Nam Province (now merged with Đà Nẵng City), operating two projects and creating 1,500 jobs for local residents.

Đà Nẵng and central Việt Nam are seen as a favourable destination for information and communications technology (ICT) companies from South Korea, the country's consulate general in Đà Nẵng reported.

South Korea remains the largest foreign investor and a key partner in the city’s digital transformation and innovation plan 2025-30 in the ICT sector.

The city has been calling for investment from South Korea in ICT and high-tech industries, including semiconductors and AI, to help transform the city into a global and regional destination for innovation.

Around 250 South Korean businesses are currently operating in Huế, Đà Nẵng and Quảng Ngãi, while more investors from South Korea are looking at the region, according to the consulate general. 

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