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Samsung has been pushing investments in Vietnam and India and is expected to continue doing so for the next several years as the tech competition between the US and China is worsening.
South Korea's manufacturing sector sustains an impact from the US-China tech war with the COVID-19 pandemic also disrupting its supply chain operations. In response, South Korean manufacturers have built production bases abroad in recent years.
In particular, those making electronics components, computers, imaging devices and base station equipment are stepping up their investments in Vietnam and India.
Based on DIGITIMES Research's observations, the investments by South Korean manufacturers of electronics components, computers, imaging devices and base station equipment in Vietnam and India are ongoing. Especially, their investments in India have continued to show steady growth since 2019, unaffected by COVID-19, but still cannot compare to those in China and Vietnam.
South Korea's investment in Vietnam exhibited a moderate decline from 2020 through 2021 due to COVID-19 but surged to US$928 million in 2022, soaring 116% from US$430 million in 2021. South Korea's investment in Vietnam was still smaller than its investment in China but it's growing rapidly. The 2022 amount already exceeded the 2019 amount.