Pham Hoang Son, Chairman of the Bac Ninh People’s Committee (PPC), on June 11 met with a delegation from Soosan Group led by Chief Executive Officer Kim Byung Hyun to discuss the company’s operations and expansion plans in the province.

A view of the meeting between Bac Ninh provincial authorities and Soosan Group representatives.

Founded in 1984, Soosan Group is one of South Korea’s leading heavy-industry manufacturers, producing cranes, specialty vehicles, construction equipment, hydraulic breakers, demolition attachments, tunnel and surface drilling machines, and truck-mounted cranes.

The company operates in markets across Europe, Asia and the Americas through a network of more than 140 dealers in over 70 countries.

Soosan currently operates two major projects in Bac Ninh. The first, located in the Hap Linh Industrial Cluster, was licensed in 2006 with investment capital of about 8 million USD on nearly 50,000 square meters of land, producing and assembling specialty vehicles, cranes, lifting equipment and metal structures.

PPC Chairman Pham Hoang Son meets with representatives of Soosan Group.

The second project, located in Nam Son–Hap Linh Industrial Park, received an investment license in 2026. The project has registered capital of about 1 trillion VND (37.9 million USD) and covers 80,000 square meters.

The company reported revenue of 817.6 billion VND in Bac Ninh in 2025 while employing 170 workers. Revenue reached 418.6 billion VND in the first five months of 2026, with the workforce increasing to 181 employees.

For the full year, Soosan expects revenue to rise to 863 billion VND, contribute 90 billion VND to the state budget and employ around 200 workers.

At the meeting, Kim said the company had secured a suitable location in Bac Ninh for future expansion.

He thanked provincial authorities for their support, noting that the planned new factory would be roughly twice the size of Soosan’s facility in South Korea.

He added that the company would continue discussions with local authorities to ensure the project complies with all regulations and is implemented effectively.

Kim said Bac Ninh’s skilled workforce was a key factor behind the company’s decision to invest in the province. He added that Soosan aims not only to meet local development expectations but also to export machinery manufactured and localized in Bac Ninh to international markets.

The PPC Chairman Pham Hoang Son welcomed Soosan’s continued interest in the province and highlighted the strong Comprehensive Strategic Partnership between Vietnam and South Korea, as well as cultural similarities that have helped foster economic cooperation.

He said Bac Ninh is home to more than 3,600 active foreign direct investment projects with total registered capital approaching 50 billion USD from 44 countries and territories.

South Korea remains the province’s largest foreign investor, accounting for 1,148 projects with registered capital of 18.8 billion USD.

The PPC Chairman also outlined the province’s infrastructure development plans, including the Gia Binh Airport project, which is being built to 4F international standards and is expected to begin first-phase operations in early 2027. The airport will be located about 8 km from Soosan’s manufacturing facilities.

He said the project would provide significant logistical advantages for investors, particularly those in machinery and equipment manufacturing.

PPC Chairman Pham Hoang Son presents a Dong Ho folk painting to leader of South Korea’s Soosan Group.

The provincial leader reaffirmed Bac Ninh’s commitment to supporting businesses through efficient administrative services and investment incentives, including tax and customs policies.

He pledged that if future planning adjustments require relocation of the company’s project, provincial authorities would provide maximum support to ensure investment stability.

He also said the province would continue supporting the development of industrial ecosystems linked to Soosan’s manufacturing activities and work closely with investors to address operational challenges.

At the conclusion of the meeting, the PPC Chairman presented Dong Ho folk paintings and Bac Ninh lychees to the South Korean delegation as gifts commemorating the visit.

Top RoK business leaders to visit Vietnam to explore investment opportunities

Vietnam is emerging as a strategic destination for RoK firms to diversify their supply chains, mitigate risks from geopolitical fluctuations, and expand partnerships with local players in the coming period.

 

RoK company expands rare earth metal production in Vietnam

LS Eco Energy, a company specialising in renewable energy and rare earth elements under the Republic of Korea (RoK)'s LS Cable & System, has approved a plan to expand its rare earth metal business in Vietnam, in a bid to seek long-term growth in the strategic materials sector.

 

Vietnam, RoK strengthen cooperation on trade remedies

Currently, both the RoK and Vietnam are each applying four trade-remedy measures on goods imported from the other. In particular, the RoK side called on Vietnam to exercise caution in its application of anti-dumping measures on four steel products from the RoK.

 

RoK supports SMEs in securing stable production bases in Vietnam

The newly signed MoU aims to assist the global expansion of Korean SMEs, which have been increasingly challenged by rising protectionism and tightening trade regulations. Its key objective is to help Korean small-scale manufacturing firms secure stable production bases in Vietnam, a fast-growing economy, thereby enhancing their competitiveness in international markets, including Southeast Asia.

 

Deputy PM urges stronger support for RoK’s FDI projects

The Republic of Korea's FDI projects are very important for Vietnam’s socio-economic development and its goal of achieving double-digit growth in the coming time, said Deputy Prime Minister Nguyen Chi Dung.

 

Seminar highlights Viet Nam–RoK business cooperation opportunities in Hai Phong

Hai Phong is committed to facilitating foreign direct investment (FDI) enterprises in pursuing long-term, effective and sustainable operations locally, Permanent Vice Chairman of the municipal People’s Committee Le Anh Quan stated at a seminar held on May 20 to discuss opportunities and challenges for Vietnamese and Korean firms operating in the northern port city.