SEOUL (Reuters) - South Korea’s Samsung Electronics Co Ltd said on Wednesday that it will invest $560 million to build a consumer appliances production complex in Vietnam, its latest move to build manufacturing capacity in the country.
Samsung, the world’s largest TV maker, said in a statement the new 700,000 square meter complex will mainly produce televisions.
Samsung has been investing heavily in production facilities in Vietnam across business segments including smartphones in a bid to lower production costs. The firm’s display subsidiary, Samsung Display, said in July that it won approval to build a $1 billion display module assembly plant in Vietnam.
Reporting by Vincent Lee; Editing by Tony Munroe and Kenneth Maxwell