Bridge of economic cooperation between Vietnam and Korea

With its position as the industrial center of the Northern midland and mountainous region, Thai Nguyen has been affirming its strong attraction to Korean investors. Over the past decade, the cooperative relationship between the two sides has been continuously strengthened and developed, creating an important driving force to promote economic growth, industrial restructuring and expanding the development space of the province.

After more than 10 years of investment, the Samsung Thai Nguyen Complex (part of Samsung Group, Korea) has become the world's largest mobile phone production "base", making an important contribution to the export turnover of goods in Thai Nguyen province. Photo: Nguyen Ngoc

Bright spot in attracting Korean investment

Thai Nguyen is located in an important strategic position, about 80km from Hanoi Capital, is the gateway connecting the midland and mountainous areas of the North with the Red River Delta region. The traffic infrastructure system is increasingly complete, with the Hanoi - Thai Nguyen expressway, the 5th ring road of the Capital region and many national highways and inter-regional roads being invested synchronously, creating favorable conditions for trade and attracting investment.

Along with the location advantage, the province also possesses high-quality human resources, well-trained from universities, 13 colleges and dozens of vocational training facilities. This is an important foundation for businesses, especially Korean investors, to feel secure in developing production and long-term business in the locality.

The provincial government has always been consistent in its viewpoint of “accompanying businesses”, considering the success of investors as a measure of management and administration efficiency. For many years, Thai Nguyen has maintained its position at the top of the country in terms of Provincial Competitiveness Index (PCI); administrative procedures have been improved towards openness and transparency, contributing to strengthening trust and creating an attractive and sustainable investment environment.

Electronic components manufacturing at KSD VINA Co., Ltd. - a 100% Korean-invested enterprise. Photo: TL

More than a decade ago, when Samsung Group chose Thai Nguyen as the location to build a large-scale mobile phone factory, Korean investment capital began to pour into the province, opening a new development phase for the local industry. To date, Thai Nguyen has more than 95 projects of Korean enterprises with a total registered capital of about 8.95 billion USD, accounting for over 60% of the total foreign direct investment (FDI) capital in the province.

The presence of leading corporations such as Samsung, Dongwha, Doosan, Daejin, MGL... not only affirms the attractiveness of Thai Nguyen's investment environment, but also contributes to restructuring the industry towards modernity and high technology. Many key industrial zones such as Yen Binh, Diem Thuy, Song Cong II have become large production "bases", attracting hundreds of satellite enterprises, creating stable jobs for more than 100,000 workers, making an important contribution to the province's socio -economic growth.

Representing the Korean business community in Thai Nguyen, Mr. Sin Byoung Chan, General Director of Dowooinsys Vina Co., Ltd., shared: We appreciate the support and companionship of the Thai Nguyen provincial government. The investment environment here is very favorable, the workers are hard-working and friendly. This is the foundation for Korean businesses to develop sustainably in Vietnam.

Smartphone production at Samsung Electronic Vietnam Thai Nguyen Co., Ltd. Photo TL

Sharing the same view, Mr. Kim Yangil, General Director of Dongwha Vietnam Joint Stock Company, said: Enterprises choose to invest in Thai Nguyen because of the potential of raw materials and human resources with a high spirit of learning. In recent years, the company's production activities have achieved good results and we hope to continue to expand the scale, accompanying the development of the province in the coming time.

According to economic experts, the success of Korean enterprises in Thai Nguyen is a vivid demonstration of the effectiveness of the policy of “accompanying enterprises” that the province has persistently implemented. Traffic, industrial and logistics infrastructure has been invested synchronously; investment and administrative procedures have been strongly reformed, creating confidence and motivation for investors to confidently commit to long-term investment.

Economist Pham Chi Lan commented: Thai Nguyen has a strategic location, conveniently connected to Hanoi and the key economic region of the North. When the locality continues to focus on improving the investment environment and enhancing the quality of human resources, Thai Nguyen will maintain its role as a leading center for attracting FDI, especially from Korea.

Not only limited to the industrial sector, cooperation between Thai Nguyen and Korea is being expanded to the fields of education, culture and tourism. Many universities and colleges in the province have signed cooperation agreements with Korean enterprises and organizations, aiming to improve the quality of training, industrial style and vocational skills for students, creating a solid human resource foundation for future investment projects.

Thai Nguyen University students in class at a practice room equipped with Samsung equipment.

Cultural exchange, volunteering and business connection activities between Thai Nguyen and Korea are held regularly, becoming a bridge connecting the people of the two countries and the business community. Programs such as “Korean Day in Thai Nguyen” and “Korean Culture and Cuisine Week” have contributed to promoting the image, culture and people of the two countries, while opening up opportunities for deeper cooperation in the fields of human resources, education and tourism.

Currently, Thai Nguyen is actively building the image of a dynamic, friendly and professional locality in the eyes of international investors. Along with promoting administrative reform, the province focuses on developing green industrial infrastructure, supporting industries, promoting digital transformation and applying science and technology in management and operation. These are the fundamental factors that help strengthen the confidence of Korean enterprises, creating the premise for increasingly strong and effective investment cooperation.

Driving force for sustainable development

A new step forward in the Vietnam - Korea cooperation relationship in Thai Nguyen is a series of investment promotion and business connection activities between Thai Nguyen province and Incheon city (Korea), expected to be held in the near future.

The event aims to create a space for direct exchange between the business communities of the two localities, thereby introducing the potential and advantages of Thai Nguyen in the fields of electronics industry, new materials, clean energy, education and tourism. This is also an opportunity to open up new cooperation opportunities in technology transfer, high-quality human resource training and smart urban development.

Dongwha Wood Factory (Korea) in Song Cong II Industrial Park. Photo: TL

According to the representative of the Thai Nguyen Provincial Department of Finance, many Korean enterprises in Incheon have expressed interest in investment projects in Thai Nguyen, especially in the fields of electricity, electronics, precision mechanics, chemistry and applied biology. A number of memorandums of understanding on cooperation between enterprises of the two sides are being finalized and are expected to be signed during the upcoming promotion, marking a new step in bilateral economic cooperation.

This connection program also creates conditions for Thai Nguyen enterprises to expand their markets, learn about the needs and standards of Korean enterprises, thereby bringing local products, especially Thai Nguyen tea, processed agricultural products, mechanical components and construction materials, etc., to participate more deeply in the global supply chain of large corporations from Korea.

Thai Nguyen currently aims to become a high-tech industrial center in the Northern region, prioritizing attracting projects with high scientific and technological content and environmental friendliness. In this process, Korea continues to be considered a leading strategic partner, playing an important role in transferring knowledge, technology and modern management models.

The provincial government is focusing on improving technical infrastructure, expanding clean land for new industrial zones, and developing smart cities, innovative ecosystems, and high-quality human resources. The province also encourages FDI enterprises to strengthen links and cooperation with domestic enterprises to spread value and promote sustainable production.

With a green development orientation, a transparent investment environment, and an increasingly close cooperative relationship with Korea, Thai Nguyen is affirming its position as an important economic bridge between Vietnam and Korea - a safe, effective and long-term destination for the international business community.

In June 2025, Thai Nguyen Department of Science and Technology and KCTC Vietnam Co., Ltd., ThePRECON Co., Ltd. (Korea) signed a Memorandum of Understanding on cooperation in investing in Thai Nguyen Provincial Data Center.

According to the signed content, Korean enterprises committed to consider investing in the construction of a Data Center with a minimum capacity of 20MW designed and operated according to international standards; committed to ensuring the implementation progress according to plan and prioritizing the use of local suppliers and human resources, in order to promote cooperation and contribute to the economic development of the province.

Source: https://baothainguyen.vn/kinh-te/202510/cau-noi-hop-tac-kinh-te-viet-nam-han-quoc-2286fcc/