HS Hyosung Group to invest additional $100 million in Đà Nẵng

HS Hyosung Group to invest additional $100 million in Đà Nẵng

Once completed, HS Hyosung’s total investment in the Đà Nẵng-Quảng Nam area will rise from $472.2 million to about $572.2 million across three projects.

Delegates tours Hyosung's factory in Đà Nẵng. — VNA/VNS Photo

The Republic of Korea’s HS Hyosung Group has started construction of a US$100 million plant producing BCF yarn and commercial and automotive carpets in Tam Thăng Industrial Park, marking a further expansion of its manufacturing operations in Đà Nẵng.

The 11ha project, developed by HS Hyosung Quang Nam Co Ltd, will have an annual capacity of 16,800 tonnes of BCF yarn and about 7.8 million square metres of commercial and automotive carpets.

The project will be developed in two phases, with partial operations expected to begin in the fourth quarter of 2027 and the second phase scheduled to come on stream in the second quarter of 2029.

HS Hyosung said the investment would expand its product portfolio in Đà Nẵng from industrial materials such as tyre cord and airbag fabric into BCF yarn, carpets and automotive interior products. The project is expected to create at least 200 direct jobs.

Once completed, HS Hyosung’s total investment in the Đà Nẵng-Quảng Nam area will rise from $472.2 million to about $572.2 million across three projects.

Speaking at the groundbreaking ceremony on Monday, Vice Chairman of the Đà Nẵng People’s Committee Phan Thái Bình said the project reflected HS Hyosung’s long-term commitment to the city and would contribute to the expansion of its industrial base and attraction of foreign investment.

HS Hyosung entered the former Quảng Nam Province in 2018 and has since developed projects at Tam Thăng Industrial Park. Under an investment agreement, the group has committed to a project chain with total investment of about $1.3 billion. 

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