Vietnam is considered by economic experts to be a country with an innovative ecosystem, with a roadmap to become an advanced country by 2025 through a plan to improve communications and energy infrastructure, promote major projects to develop industry and accelerate the digital transformation process. Korea is considered a country with a sustainable bilateral development cooperation relationship over the past three decades and has now been upgraded to a "comprehensive strategic partnership". Economy is considered the most important area of cooperation in the relationship between Vietnam and Korea. Large Korean corporations have always looked to Vietnam with strong internal strength. Typically, the world's leading electronics corporation LG has also announced an investment of up to 5 billion USD for Vietnam in the coming time.
In Vietnam, Hai Phong is LG's investment focus with a large factory, responsible for researching and mass-producing the brand's key products. Recently, LG also officially announced the first top-freezer refrigerator line that is 100% manufactured in Vietnam. As one of the Korean enterprises that has established business and built a sustainable development strategy during the 3 decades of maintaining diplomatic relations between Vietnam and Korea, LG is honored to be present at the Vietnam - Korea Cooperation Fair and Exhibition event held on June 22 at the National Convention Center, Hanoi. This is one of the key activities to welcome the first official visit of Korean President Yoon Suk Yeol and the delegation of Korean enterprises to Vietnam. In particular, LG Group participates as one of the leading Korean corporations, making significant contributions to the Vietnamese economy in the past as well as in the near future.
The innovative solution that was just launched at CES 2022 has been introduced in Vietnam, attracting the attention of the media and the technology-loving community.
At the event's exhibition space, LG brought the most advanced technologies, along with leading home electronics and beauty care products and solutions from LG Electronics and LG Household & Healthcare. Notably, LG introduced the advanced LG Omnipod technology - a self-driving car model with many interesting applications, providing a complete experience like owning an additional "mobile home". Users can experience many utilities at the same time on LG Omnipod such as watching movies, exercising, camping... The full presence of the LG device ecosystem on LG Omnipod such as refrigerators, vacuum cleaners, high-end clothing care cabinets... promises to bring users a comfortable and unique life never seen before. The appearance of this "future device" at the event makes many people expect its commercialization in the near future.
In addition to LG Omnipod, LG also showcased TV lines that are currently the focus of the brand, especially at a time when LG has just celebrated the 10th anniversary of the launch of OLED display devices. At the event, LG introduced to the public the world's first 97-inch OLED TV with 4K/120Hz resolution and the ability to transmit high-quality images wirelessly; LG Signature OLED M brings users the ultimate entertainment experience with Zero Connect technology, allowing wireless video and audio transmission, eliminating the usual obsession when installing devices.
LG successfully impressed Vietnamese consumers with a series of entertainment and home appliances that satisfy the need to build a trendy, creative and sophisticated living space.
LG MoodUp refrigerator - one of LG's products that has recently attracted attention was also selected to be displayed at the event. Possessing a unique combination of color and sound with the ability to be highly customized according to mood and personalization needs of interior style, LG MoodUp refrigerator attracted the attention of many visitors. As a successful Korean brand with a variety of products and services that meet the expectation of establishing a better life every day, LG also displayed its high-end cosmetics line "The History of Whoo" at this exhibition.
LG's production scale in Vietnam in 2022 is estimated to be about 12 billion USD, equivalent to about 3% of Vietnam's GDP. LG currently has about 24,000 employees working here.
In the past 6-7 years, Korea has emerged as the leading investor in Vietnam. Based on this relationship, LG has clearly defined its investment expansion roadmap, supporting the improvement of skills and capacity of its team of experts to undertake the task of manufacturing LG-branded products for the domestic market, as well as exporting to neighboring countries, and the core is to create technological solutions that bring many new conveniences and experiences, helping Vietnamese families have a better life every day.
Recently, LG Electronics CEO Cho Joo-wan visited major manufacturing facilities in Asia, starting with Vietnam. The visit affirmed the goal of creating positive differences for the economy and social life as what LG has been aiming for since the first day of establishing its business plan in the host country.
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