South Korean conglomerate SK Group has spent $300 million to acquire a semiconductor company in northern Vinh Phuc province.

Iscvina Manufacturing Co., Ltd specialises in semiconductor manufacturing and trading and is a supplier for several high-tech giants.

The company is operating in Ba Thien 2 Industrial Park.

At a recent meeting with the provincial authorities, Manager of SK Group in Vietnam, Mr. Han Sung Won spoke highly of the investment environment of Vinh Phuc, particularly its business support policies.

Welcoming the SK Group’s investment, Chairman of the provincial People’s Committee Tran Duy Dong asked relevant agencies to collaborate with SK Group in implementing its plans.

Vinh Phuc is giving priority to attracting investment in high-technology, semiconductor, electronics, industrial park infrastructure, trade, tourism and real estate, he said.

The Republic of Korea is currently the largest foreign investor in Vinh Phuc. Over 200 Korean businesses are operating in the province with a total registered investment capital of over $3 billion.