South Korea Amkor to invest $1.6 bln in Vietnam

South Korea’s semiconductor provider Amkor will invest $1.6 billion to develop a manufacturing, testing and assembling plant in the northern industrial province of Bac Ninh, the city’s People’s Committee said on Friday.

The plant, which will be on a 23-hectare (56.8-acre) plot, is expected to start construction in the first quarter of next year, the committee said in a statement after the signing ceremony with Amkor’s representative.

The company will disburse $520 million during the first five years, it added. The project is due for completion in 2035.

Bac Ninh province is home to global manufacturers such as Foxconn, Samsung and Canon. Reuters