Dong Nai emerges as attractive destination for Korean investors

Local authorities stand by businesses

The RoK is the largest among 51 countries and territories investing in the southern city, with 469 valid projects worth nearly 8.4 billion USD.

TKG Taekwang Vina JSC, based in Bien Hoa 2 Industrial Park, is one of the city's largest wholly Korean-owned enterprises. Operating in Dong Nai since 1994, the footwear exporter employs more than 34,000 workers and has expanded its production and business operations to several other localities, including Dong Thap, Can Tho and Tay Ninh, over the past 32 years.

Dinh Sy Phuc, the company's administrative director, said local authorities in Dong Nai and other Vietnamese localities have consistently provided timely support in resolving operational difficulties, helping the company maintain stable production and business activities while improving workers' incomes. Such practical assistance has enabled the business to expand, fulfil its tax obligations, and contribute around 500 billion VND from its profits to social welfare activities.

Alongside TKG Taekwang Vina, many major Korean corporations have operated in Dong Nai for decades, steadily expanding production and investment. Hyosung Group is currently the city's largest Korean investor, with 2.2 billion USD in registered capital.

Bae In-han, General Director of Hyosung Dong Nai Co., Ltd., said local authorities have consistently supported the company in promptly resolving difficulties, helping ensure stable operations. The company plans to expand investment in new sectors in Dong Nai and hopes to continue receiving local support.

At a dialogue with Korean businesses in mid-October, Vice Chairwoman of the municipal People's Committee Nguyen Thi Hoang said the event aims to listen to businesses' concerns and needs and reach practical solutions for immediate implementation. She stressed that their experience and recommendations will also help improve the investment and business environment, creating favourable conditions for Korean enterprises to expand their operations sustainably in the city.

Growing together towards shared prosperity

Vo Tan Duc, Deputy Secretary of the municipal Party Committee, affirmed that the effective presence and operations of Korean businesses have made important contributions to the city's economic growth, job creation, technology transfer, production capacity and international integration.

He said Dong Nai regards businesses, including those from the RoK, as important partners in socio-economic development, pledging to continue improving the investment environment, strengthening dialogue and working with enterprises to resolve difficulties.

RoK Ambassador to Viet Nam Lee Mi-yon noted that Korean businesses have actively invested in many areas in Dong Nai since the two countries established diplomatic relations. They currently employ more than 170,000 workers, contributing to the city's economic development and bilateral economic ties through production and exports.

She expressed her hope that Korean businesses will continue expanding their investment in Dong Nai, saying that further projects and reinvestment will deepen the partnership and shared prosperity between the city and Korean enterprises.

At Meet Korea 2026 recently held in Dong Nai, Deputy Minister of Foreign Affairs Ngo Le Van said the RoK is Viet Nam's largest foreign investor, with 10,598 projects worth around 103 billion USD, and its third-largest trading partner.

The two-way trade reached 82 billion USD in the first eight months of 2026, the highest figure ever recorded for the same period, paving the way for trade to exceed 100 billion USD for the first time this year and reach the target of 150 billion USD by 2030.

Van said the event helped promote Dong Nai as a dynamic and open destination while strengthening connections and creating new cooperation opportunities between Korean businesses and Dong Nai in particular, as well as other Vietnamese localities.