South Korea's Partron Vina boosts investment to $269 million in Vietnam

The new investment will raise the company's output to 34 new products while boosting its annual capacity from 1.21 billion to 1.57 billion items.

The expansion is part of the company's long-term plan to tap into the growing market demand for new products. Among them, electronic circuit boards, electric vehicle controllers, and ATN antennas for mobile devices are the company's flagship products.

The project is slated to be implemented next month, spanning 6.54 hectares in Khai Quang Industrial Park, Vinh Phuc province.

Partron Vina began operating in Vietnam in 2008 with an initial investment of $4 million. The company mainly engages in manufacturing all kinds of phone components, including main parts such as cameras, phone antennas, chargers, and wireless headphones.

The company has adjusted its investment capital several times, reaching $150 million in 2015. At that time, the company posted a revenue of $60 million and contributed VND1.5 billion ($59,116) to the local budget in Vinh Phuc.

Partron is one of Samsung Electronics Vietnam's key suppliers, offering high-quality products. The company also produces components for other electronics companies, such as Amazon. Partron's products are sold across several international markets, including South Korea, India, and Brazil.

The South Korean company currently runs three factories in South Korea, China, and Vietnam.

At a forum in Seoul on July 1, leaders of some South Korean conglomerates expressed their desire for the Vietnamese government to establish mechanisms and provide legal and financial support to facilitate investments and the completion of wind and gas power projects.

Vietnam remains a magnet for major South Korean investors, and a basis for them to reach out globally, nearly 10 years after a major free trade deal between the pair materialised.

Vietnam is set to welcome bigger investments from South Korea following an official visit by a Vietnamese top leader to this East Asian nation, where both countries have made fresh commitments to boost their trade and investment ties.