RoK's Hyosung begins construction of US$ 100 million plant in Da Nang

The event was attended by Mr. Ngo Xuan Thang, Deputy Secretary of the Da Nang Party Committee; Mr. Tran Xuan Vinh, Vice Chairman of the municipal People's Council; Mr. Phan Thai Binh, Vice Chairman of the city People's Committee; and others.

The construction project of the BCF yarn and carpet manufacturing plant received its initial investment registration certificate on July 28, 2026, from the Chu Lai Open Economic Zone Management Board.

The project, which is invested by HS Hyosung Quang Nam, covers an area of ​​11 hectares at the Tam Thang Expanded Industrial Park, with a total investment capital of VND 2,606.1 billion (approximately US$ 100 million).

The project, which consists of two phases, aims to produce BCF yarn, automotive carpets, and other types of carpets.

The first phase has a total investment of US$ 80 million and expects to be put into operation in the fourth quarter of 2027, with an annual capacity of approximately 10,800 tons of BCF yarn, 3,800,000m² of automotive carpets, and 4,000,000m² of other carpets.

The second phase has a total investment of US$ 20 million and expects to begin operations in the second quarter of 2029, with an annual capacity of approximately 6,000 tons of BCF yarn.

Speaking at the event, Vice Chairman of the Da Nang People's Committee Phan Thai Binh affirmed that the project contributes to realising the city's goal of double-digit economic growth while marking a new stage of development in the cooperative relationship between the HS Hyosung Group (based in the Republic of Korea, RoK) and Da Nang.

The Da Nang leader said the city pledges to continuing its support and creating the most favorable conditions, within the legal framework, to enable HS Hyosung and enterprises within its value chain to invest, produce, and conduct business with their confidence for the long term in the locality.

He also urged HS Hyosung Quang Nam to concentrate resources and fully mobilize personnel and equipment to implement construction works so that the project is completed on or ahead of schedule.

Also, he asked the company to adopt advanced, eco-friendly technologies and utilize resources and energy efficiently; prioritize the recruitment and training of local workers; ensure the well-being of employees both materially and spiritually; and foster harmonious and stable labor relations.

The Vice Chairman expressed his hope that the company would continue to invest in subsequent projects with the committed capital in Da Nang.

The HS Hyosung Quang Nam is also encouraged to explore new investment opportunities in the city, particularly in hi-tech industries, supporting industries, materials manufacturing, and sectors capable of deeply integrating into the global supply chain.

At the ceremony, HS Hyosung Group and VinFast Vietnam signed a cooperation agreement on the supply of automotive components.