On March 20, Prime Minister Pham Minh Chinh had a meeting with Karthik Rammohan, group vice president of Lam Research, and a representative of Seojin Company (South Korea). The two companies are cooperating in semiconductors in Vietnam.

Founded in 1980, Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Headquartered in California, the chip-making technology provider posted revenue of $19 billion in 2022.

Rammohan shared that the group is looking to expand its operation and diversify its supply chain in Asia. In Vietnam, Lam Research plans to tie up with Seojin, which has factories in Bac Ninh and Bac Giang provinces, to develop factories and a supply chain with an investment capital of $1–2 billion in the first phase. Following the first phase, Lam Research will possibly make direct investments or bolster its operations in the country.

The corporation would like to research the investment promotion policies and initiatives that Lam Research can join to support suppliers and the supply chain of Vietnam’s semiconductor industry.

PM Chinh said the United States and South Korea have formed comprehensive strategic partnerships with Vietnam, in which science, technology, and innovation are important cooperation areas. Amidst the changing wave of global FDI, Vietnam hopes to woo high-quality capital in high-tech industries.

Vietnam plans to train 50,000–100,000 engineers for the semiconductor industry by 2030. Meanwhile, other tech giants such as Samsung, Intel, and Foxconn are already present in Vietnam.

The PM hoped that Lam Research and Seojin focus on research and development as well as tech transfer, contributing to the development of the semiconductor ecosystem in Vietnam.