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

Quick Summary:

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

The investment is part of its 1.3 trillion won budget 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.

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

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Article Details

Category: Economy

Markets: South KoreaVietnam

Topics: Innotek Supplier South $268 Apple Optics Module Camera Invest Year Solution

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 11:06:00 (4 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 205 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 14 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23880120

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