Tkg Taekwang Vina Joint Stock Company (Vietnam)

As a partner of Nike, a global sports shoe brand, Taekwang Group (from South Korea) is producing 72 million pairs of shoes per year at overseas manufacturing plants such as Vietnam, China, and Indonesia. Taekwang is ranked 2nd worldwide in terms of revenue among Nike's shoe manufacturing partners and 3rd in the world in terms of volume. In addition, Taekwang Group is also involved in other fields such as synthetic fiber, textile, petrochemical, and advanced materials.Tkg Taekwang Vina JSC was established in Jul 1994 as the first overseas factory and the second product development center of Taekwang Group. Tkg Taekwang Vina JSC specializes in processing and exporting sports shoes for Nike. Besides, it also invests and constructs urban residential area and leases redundant workshop at Agtex Long Binh Industrial Park.After the interruption in operation caused by Covid-19 pandemic in third quarter of 2021, the company's business activities have returned to normal. Nevertheless, especially in 4th quarter of 2022, in textile, garment and footwear fields, Tkg Taekwang Vina JSC and other companies suffered from a drop in orders due to weakened purchasing power. According to press information, the subject has made efforts to keep stable workforce. In order not to cut down labors, the company forces to reduce working days in every month. In addition, the subject tries to maintain regional minimum wages for employees. Its operation is still normal at this time.