Hyosung Vina Chemicals Co., Ltd (Vietnam)

Being a subsidiary of Hyosung Chemical Corporation, the subject - Hyosung Vina Chemicals is also a member of Hyosung Group - The South Korean industrial group which was founded in 1966 and is operating in various fields: chemical, industrial machinery, IT, trade, and construction.  For its parent company, Hyosung Chemical Corporation is engaged in the manufacture and sell a variety of products, including petrochemical products likes polypropylene (PP), high-purity terephthalic acid (TPA), and polyketone (POK); nylon films, polyester films, and TAC films used for packaging, industrial, and optical applications; and NF3 and 20% F2/N2, special gases used in cutting-edge semiconductor and display manufacturing processes. This company has spread its value throughout the globe, including to Asia and Europe, in addition to South Korea.In 2018, Hyosung Chemical Corporation penetrated the Vietnam market and started investing in projects including Polypropylene manufacturing factories (No. 1 and No. 2), Propane DH/OL1 manufacturing factory, liquefied petroleum gas (LPG) underground storage, and Hyosung Vina Chemicals port. Hyosung Vina Chemicals' products are used in petrochemical industries, and downstream industries such as automotive, medical, plastic products, and other service industries. Since Feb 2020, it has operated a Polypropylene manufacturing factory (No. 1). On 17 Dec 2021, it put into operation factory (No. 2) producing polypropylene, ethylene, and propylene from liquefied petroleum gas with a capacity of 300,000 tons/year, revenue of USD 239 million and payment to the state budget of VND 1,389 billion. After over 3 years of building the project, the Polypropylene factory and LVC Hyosung underground storage of liquefied petroleum gas were completed and officially put into operation with a production capacity of 650,000 tons of Polypropylene. Of which 300,000 tons will be supplied to the domestic market, contributing to improving the competitiveness of Vietnam's manufacturing industries, the rest will be exported to Southeast Asia, America, and Europe.