.jpg "Da Nang seeks deeper high-tech cooperation with the RoK")
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DNO - Da Nang is strengthening its appeal to investors from the Republic of Korea (RoK), supporting the city’s ambition to build high-value industrial supply chains and establish a new growth engine in Central Vietnam.
Da Nang is strengthening its position as an emerging industrial hub as conglomerate HS Hyosung from the RoK expands its operations with a new US$100 million manufacturing project in Tam Thang Industrial Park Expansion, within the Chu Lai Open Economic Zone.
The project marks another step in Vietnam - the RoK economic cooperation, linking international investment with local manufacturing and supply chains, particularly in the automotive industry.
As reported, HS Hyosung has maintained a presence in Tam Thang Industrial Park since 2018, operating projects producing tire cord fabrics and airbag fabrics. With three projects developed through different phases, the group’s total investment in the area has reached US$572 million.
Its latest project, HS Hyosung Da Nang Interior Manufacturing Plant, will cover 11 hectares and focus on producing BCF yarn and various types of carpet, including commercial carpets and specialized automotive carpeting.
Notably, the plant will supply automotive floor mats directly to Vietnamese electric vehicle manufacturer VinFast, creating opportunities for deeper integration into the country’s automotive supply chain and stronger cooperation with domestic businesses.
According to HS Hyosung Advanced Materials Corporation, the new project is viewed as the starting point of the RoK enterprise’s long-term development vision in Vietnam.
After more than 20 years of investment in the country, HS Hyosung has established eight factories, with cumulative investment of approximately US$2.03 billion, and created jobs for more than 6,000 workers.
In Da Nang, the group is orienting its future development towards an industrial complex spanning approximately 100 hectares, with planned investment of up to US$1.34 billion under a framework commitment for a series of projects.
HS Hyosung will work with municipal authorities, relevant agencies and partners to ensure the project is implemented safely, efficiently and on schedule.
The combination of HS Hyosung’s accumulated materials technology, Da Nang’s workforce and Vietnam’s growing automotive industry could create a model for cooperation in technology, human resources and supply chains.
The Consulate General of the RoK in Da Nang will continue supporting investment by Korean businesses in the region, contributing to closer economic ties between the two countries.
The RoK is one of Vietnam’s and Da Nang’s key partners in trade, investment and economic cooperation.
As of August 2026, Da Nang had Korean-invested 314 projects with total registered capital of nearly US$1.66 billion, making the RoK one of the city’s important partners in trade, investment and economic cooperation.
Alongside HS Hyosung, projects in the Chu Lai Open Economic Zone include automotive components produced by CTR, textile and garment supporting industries developed by Panko, and magnetic materials manufactured by SGI.
These investments show how Vietnam - the RoK cooperation is generating tangible results through manufacturing, job creation and stronger industrial supply chains.
In reality, Da Nang’s expanded development space offers significant opportunities to grow the economy and establish new growth drivers, supporting the national goal of double-digit economic growth.
HS Hyosung’s latest investment is highly expected to encourage further projects and help build automotive supporting industries, high-value materials manufacturing, domestic supplier networks and an integrated industrial, logistics and services ecosystem.
Da Nang is also seeking continued support from the Consulate General of the RoK in the city to promote its investment environment and connect local opportunities with Korean businesses.
Da Nang aims to use key investment projects as catalysts for building an automotive supporting-industry supply chain, expanding the production of high-value materials and industrial products, developing domestic supplier networks for multinational corporations, and establishing an integrated, resilient logistics, industrial and services ecosystem.
Tourism and people-to-people exchanges are also important pillars of ties between Vietnam and the RoK. Currently, the RoK is one of Da Nang’s key international tourism markets.
Meanwhile, sister-city partnerships and friendship ties between Da Nang and RoK localities are growing.
In the first eight months of 2026, the city welcomed over 1.4 million Korean visitors, supported by a frequency of approximately 140 flights per week between Da Nang and the RoK.
In line with Politburo Resolution No. 10-NQ/TW on the development of the foreign-invested economy, which calls for a shift from simply attracting capital to building a modern investment ecosystem, Da Nang is focusing on unlocking new development spaces to attract high-quality international investment.