Apple supplier LG Innotek to invest $268.4 mn in Vietnam in 2025

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Apple supplier LG Innotek to invest $268.4 mn in Vietnam in 2025 - Korea Economic Daily

Quick Summary:

South Korea’s LG Innotek Co., a major contractor for Apple, said on Thursday it plans to spend 375.9 billion won ($268.4 million) next year on a new camera module factory in Vietnam under construction.

The investment is part of its budget of 1.3 trillion won unveiled last year to more than double the capacity of its Vietnamese subsidiary by building a new plant at the production complex in Hai Phong, the country’s key industrial city.

LG Innotek said that it aims to deal with new models of the optics solution industry and improve its competitiveness in a filing to the South Korean financial regulator.