The groundbreaking for 2 factories of Young Poong Group in Dong Soc industrial cluster

01/10/2020
In the morning of 30/9, in Vinh Tuong district (Vinh Phuc), the groundbreaking of YPE Vina Co., Ltd and Korea Circuit Co., Ltd at Dong Soc industrial cluster.
Secretary Hoang Thi Thuy Lan; Standing Deputy Secretary Tran Van Vinh and Chairman Nguyen Van Tri attended the event.
Young Poong Group is one of the big corporations in South Korea, focusing mainly on the fields of electronics, non-ferrous metal processing, commerce, and financial services with the revenue of more than USD 10 billion/ year, annual profit is over USD 1 billion. Particularly in the field of electronics, the Group has 5 companies, including 2 operating in Ba Thien I and Ba Thien II Industrial Park with the revenue in 2019 reaching USD 2.5 million / company.
In 10/2019, YPE Vina Co., Ltd. and Korea Circuit Co., Ltd. signed a memorandum of understanding on land lease at Dong Soc industrial cluster. With a total registered investment capital of about USD 840 million divided into 3 phases, Young Poong is the Group with the largest investment capital ever in Vinh Phuc. In phase I, the factory of YPE Vina Co., Ltd. and Korea Circuit Co., Ltd. started construction with a capital of about USD 270 million, the use area is 13.5 hectares, mainly producing complex circuit products for Samsung and Apple. The project will be put into operation from 6/2022, attracting about 5,000 workers inside and outside the province.

Delegates press the groundbreaking button for the first 2 factories in Dong Soc industrial cluster
Recognizing and appreciating the efforts of relevant departments, branches and Vinh Tuong district, the investor implementing the project of Dong Soc industrial cluster, Chairman Nguyen Van Tri confirmed the groundbreaking ceremony. The factory project of YPE Vina Co., Ltd. and Korea Circuit Co., Ltd. not only showed the investment determination of the investor but also the fierce participation of the authorities of Vinh Phuc province, especially in the context of the world economic situation has had many negative impacts on investment attraction due to Covid-19.
In order to implement the project as scheduled, the Chairman suggested Young Poong Group to focus all resources on the project; the construction process must ensure the work quality, absolute safety for employees; install advanced, modern and environmentally friendly production technology lines; give priority to recruit local workers and ensuring technology transfer, training to improve skills, and policies for workers. Along with continuing to call for investment attraction and raising the occupancy rate for the rest of the area in the industrial cluster, the investor of Dong Soc industrial cluster should focus resources to speed up the first progress. investing in technical infrastructure, ensuring synchronous all stages: electricity, water, traffic, wastewater treatment stations; work closely with investors and local agencies to ensure the best service for production and business activities of Young Poong Group.
Mr. Nguyen Van Tri also committed that Vinh Phuc province would coordinate and create the most favorable conditions for Young Poong Group in the project implementation process. He assigned agencies, departments, branches of the province, Vinh Tuong district, communes and towns having land in Dong Soc industrial cluster to base their functions and tasks to actively support and consider solving problems for investors in particular and other investors in general when investing in Dong Soc industrial cluster.
Bich Phuong
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