The project of LG Innotek Hai Phong of LG Innotek Vietnam Hai Phong Co., Ltd. increased capital by 1 billion USD, demonstrating LG Group's confidence in the investment environment of Hai Phong City.

This project is located in the Trang Due Industrial Park. In 2016, it was granted the Investment Registration Certificate by the Management Board of the Economic Zone. In September 2017, the factory officially went into operation, producing camera module products.

The capital increase of LG Innotek has brought the city's total FDI capital in the first 6 months to approximately 1.9 billion USD, accounting for 95% of the year's plan. This result is certainly encouraging for the investment promotion and foreign investment attraction efforts of the city in general and the Hai Phong Economic Zone Authority.

During the coming period, Hai Phong City wishes that LG Group in general and LG Innotek in particular will continue to invest in expansion, have new projects, operate effectively, and contribute more to the development of the city.

On the local side, the city's leaders committed to regularly supporting, creating favorable conditions, quickly solving administrative procedures, and helping to deal with difficulties for businesses for Korean partners to deploy project investment smoothly.

Previously, according to information from the Hai Phong Economic Zone Authority, Korea is the leading country in terms of both the number of projects and the amount of investment capital out of a total of 42 countries and territories registered for investment in Hai Phong.

The fields in which Korean investors are interested in Japan are electronics, auto parts, machinery, etc.

Among Korean investors in Hai Phong, LG Group is the leading enterprise in terms of investment capital and projects. Currently, LG Group has seven investment projects in Hai Phong; the largest of these are LG Electronic, LG Display, and LG Innotek.

In addition, there are more than 50 Korean enterprises as satellites, with a total investment of nearly 1 billion USD.

Typical Korean projects in Hai Phong: LG Group (7.24 billion USD), Heesung (154 million USD), Haengsung (115 million USD), etc.

In 2022, the total export turnover through Hai Phong port border gate to the Korean market reached 12.3 billion USD, and the total import turnover through Hai Phong port border gate from the Korean market reached 7.8 billion USD.