Developers code on computers. Photo by Shutterstock/Dragon Images. 

IT recruitment firm TopDev has secured a million-dollar investment from South Korea’s leading recruitment company Saramin HR. 

The Ho Chi Minh City-based company said in a statement Monday that the deal, whose exact value it did not reveal, would be used to increase the supply of developers through training programs for graduates.

Saramin HR, which is listed on South Korea’s KOSDAQ, said the investment is part of its global development plan and would support TopDev’s potential expansion in Southeast Asia. 

TopDev said Vietnam has 350,000-400,000 developers now but 500,000 would be needed by 2021 as the country remains a popular outsourcing software destination for multinationals.

Vietnam is seeing increasing investment in tech startups.

Last year the total investment in Vietnamese tech startups surged 2.5 times to $741 million, second only to Indonesia in Southeast Asia.