SEOUL, KOREA - PowerLogics, the company with the world's highest market share in protection circuit modules for lithium-ion batteries, said on November 18 that it would establish a local plant in Vinh Phuc Province, Vietnam.

 

The Khai Quang industrial zone in which the company's production base will be located is close to Hanoi and thus convenient for access to the airport.

 

In addition, the company said, it expects to get a variety of tax incentives and administrative support from the provincial government as the province has a special relationship with the government of North Chungcheong Province in which the company has a production facility.

 

In the first round of investment, the company will spend US$5 million, whose loan was provided by Korea EximBank under special terms, for the company had been selected as a "hidden champion" by the state-run bank in October this year.

 

Beginning in the first half of next year, PowerLogics' Vietnamese unit will supply all its camera modules and rechargeable battery protection circuit modules to Samsung Electronics and Samsung SDI in Vietnam.