Chairman of Thai Nguyen Provincial People’s Committee Meets with Secondary Samsung Investor

On the afternoon of September 30th, at the Office of Thai Nguyen Provincial People’s Committee, Mr. Duong Ngoc Long, Deputy Secretary of Thai Nguyen Provincial Party Committee, Chairman of Thai Nguyen Provincial People’s Committee worked with Mr. Yoo Kyung Joon, Chief Financial Officer of Hansol Limited Company, Vietnam. The meeting was also joined by the leaders of the Management Board of Industrial Zones of Thai Nguyen Province, Department of Planning and Investment, Department of Construction, Yen Binh Investment and Development Joint-Stock Company and Quang Son Cement Joint-Stock Company.

Mr. Yoo Kyung Joon said Hansol Limited Company, Vietnam is one of the subsidiaries of Samsung Group, Korea. Samsung Group authorized the company to develop its component project in Samsung Thai Nguyen High-Tech Complex in Yen Binh Industrial Zone. Accordingly, Hansol Vietnam will invest in building its electronic equipment and components factory. This is an important assembly line, manufacturing and supplying key parts to Samsung branded products. According to Samsung Group’s plan, Samsung Thai Nguyen High-Tech Complex will be completed by March 2014 and Hansol’s factory must also be inaugurated by June 2014. Therefore, the Company’s construction is now in a great hurry.

Despite favorable investment procedures, Mr. Yoo Kyung Joon still feels anxious about a number of issues, such as the housing for professionals, senior engineers and workers when its factory goes into operation as well as how to recruit 7,000 local workers, etc.

After a brief introduction about the socio-economic development conditions of the Province, Mr. Duong Ngoc Long applauded the investment policy of Hansol Vietnam in Thai Nguyen. He stated Thai Nguyen Province will create every favorable condition in investment procedures so that the Company can accomplish its project on schedule. The investor’s worries will be considered and eased as soon as possible on the basis of the current regulations of the State. He also requested the Company to provide its recruiting procedures and criteria so that the Province can help. In addition, the company was also kindly suggested to recruit its employees from the households directly affected by the project and use the locally available raw materials.