Doosan Corporation will join hands with Vietnam's Hai Duong Province to discover new business opportunities based on its cutting-edge electronic material manufacturing technology.
On June 25, Doosan Corporation officially announced the signing of the MOU during a ceremony attended by notable dignitaries, including South Korea's Minister of Trade, Industry, and Energy, Lee Chang-yang, President of Doosan Corporation Electronics BG, Yoo Seung-woo, and Head of Hai Duong Province, Trieu The Hung.
As part of this agreement, Doosan Corp. intends to expand its Patterned Flat Cable (PFC) production facility in Hai Duong Province, Vietnam and contemplate further investments in the future. These endeavors aim to foster job creation and stimulate local economic growth. In support of Doosan Corporation's investment, Hai Duong Province has committed to providing tax incentives and other forms of assistance to ensure a smooth progression.
Doosan Corporation had previously established a subsidiary in Vietnam in 2020 and completed the construction of a plant dedicated to the mass production of PFCs in October of the same year.
PFC represents an innovative electronic material that can serve as a substitute for wiring harnesses found in electric vehicles, such as those used in batteries, doors, seats, and roof cables.
The implementation of PFC technology in electric vehicles enables a remarkable reduction in the weight and volume of copper wires by more than 80%, thereby resulting in weight reduction, cost savings, and increased mileage. As the entire industry emphasizes the significance of lightweighting electric vehicles, the attention surrounding PFC continues to grow.
“There were difficulties due to the COVID-19 situation immediately after the establishment of the corporation, but local employees in Vietnam were able to successfully build a production line," said Doosan Electronics BG President Yoo Seung-woo. "As high growth is expected in the PFC business in the field of next-generation mobility, we will secure business competitiveness together with Hái Duong Province.”
