Korean automobile electric cable group wants to invest in Vietnam

South Korea’s THN Group is considering investing in a US$10 million automobile electric cable factory in the central province of Thanh Hoa.

Korean automobile electric cable group wants to invest in Vietnam
All products of this factory are expected to be exported to global automobile manufacturers such as Hyundai, Kia and Mobis. — Photo cafef.vn

South Korea’s THN Group is considering investing in a US$10 million automobile electric cable factory in the central province of Thanh Hoa.

During a meeting with chairman of the provincial People’s Committee Nguyen Dinh Xung this week, THN’s vice chairman Chae Seung Hoon said THN was looking for a place in Viet Nam to build a factory on an area of six hectares to manufacture electric cables for cars, which is estimated to generate jobs for about 6,000 locals.

All products of this factory are expected to be exported to global automobile manufacturers such as Hyundai, Kia and Mobis.

After three surveys of Thanh Hoa province, THN has chosen the Ha Duong Industrial Complex in Ha Trung District and wants to set up its factory there if THN and the provincial authorities come to an agreement.

 

At the meeting, Xung pledged that Thanh Hoa would create the most favourable conditions if THN Group built its factory in the province.

He also assigned the provincial Department of Planning and Investment to work with Ha Trung District to make agreements on the issues proposed by THN and send a written notice for the group before October 30.

If the group decides to invest in the factory in the province, the Department of Planning and Investment is responsible for consulting the provincial People's Committee to license the project soon, Xung said.

THN is one of the world's leading manufacturers of automotive electric cables. The group currently has eight factories in Korea, China, Paraguay, Brazil and the Philippines. — VNS

 
 

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