LG Innotek will invest $1 billion in building a new semiconductor substrate plant in Hai Phong, Vietnam.

According to a statement on June 8, LG Innotek, a subsidiary of LG Group and a South Korean electronic component manufacturer, has received an investment registration certificate from the Hai Phong Economic Zone Management Board in Vietnam. They plan to invest $1 billion to construct a new semiconductor substrate manufacturing base in the DEEP C Hai Phong 2 Industrial Park in the Hai Phong Free Trade Zone. The factory is expected to occupy approximately 33 hectares, with construction scheduled to begin in the third quarter of this year and completion expected in the fourth quarter of next year.