Vietnam Samho Co., Ltd (Vietnam)

The subject - Vietnam Samho Co., Ltd is a wholly-owned subsidiary of Samho Ind Co., Ltd. Its major business is manufacturing and processing sport shoes of reputable brand names like Nike, Adidas and New Balance. Finished products are mainly exported to the parent company in South Korea and other foreign markets for consumption.The global economic situation has fallen into an unprecedented crisis. The geopolitical tensions among countries are increasingly escalating in many regions. Most recently, the war between Hamas and Israel has also raised concerns that it would spread to countries in the Middle East. In the worst scenario, oil prices would skyrocket, causing increased inflation. The prospect for the world economy to recover does not happen in 2023.Since the final months of 2022, Vietnam Samho Co., Ltd's operation has been negatively influenced due to the lack of orders. In the context of unfavorable economic conditions of 2023, the difficulties are foreseen to be prolonged in the upcoming time. The subject has cut down its workforce to 6,300 employees.