HS Hyosung Breaks Ground on $100 Million BCF Yarn and Carpet Plant in Da Nang; Phased Operations to Begin in Q4 2027

[HANOI, Vietnam—Correspondent Kim Jun-seok] HS Hyosung Quang Nam entity has officially begun construction of a plant in Da Nang, Vietnam, to produce BCF yarn and carpets, with a total investment of $100 million (approximately 135.6 billion won). The new plant will produce commercial carpets and specialty automotive carpets.
According to local media on the 30th, the HS Hyosung Quang Nam entity held an official groundbreaking ceremony for the BCF yarn and carpet production plant project in Da Nang on the 29th. The project is being developed on an 11-hectare site in the Tam Thang Expanded Industrial Park with a total investment of $100 million (approximately 135.6 billion won). The Chu Lai Economic Zone Management Board issued the project's first Investment Registration Certificate (IRC) on July 28.
The project will be carried out in two phases to produce BCF yarn, automotive carpets and other commercial carpets. The first phase will receive an investment of $80 million (approximately 108.5 billion won) and is scheduled to begin operations in the fourth quarter of 2027. Its annual production capacity will be approximately 10,800 tons of BCF yarn, 3.8 million square meters of automotive carpets and 4 million square meters of other carpets. The second phase, which will receive an additional investment of $20 million (approximately 27.1 billion won), is scheduled to begin operations in the second quarter of 2029 and will add approximately 6,000 tons of annual BCF yarn production capacity.
Park Jeong-gon, head of the HS Hyosung Quang Nam entity, said, "Once the new project is completed, HS Hyosung's total investment in the Quang Nam-Da Nang region will increase from the existing $472.2 million (approximately 640.4 billion won) to about $572.2 million (approximately 776.1 billion won)." He added, "This project is significant because it expands our business portfolio from our existing core products, tire cords and airbag fabrics, into BCF yarn, carpets and automotive interior materials. We also expect the completed plant to create at least 200 direct local jobs."
Park also noted, "We have completed all investment-related procedures as well as the necessary licensing and approval processes for the project, and have now entered the full-scale construction phase."
Phan Thanh Binh, vice chairman of the Da Nang People's Committee, said, "This groundbreaking ceremony marks a new leap in the cooperative relationship between the HS Hyosung Group and Da Nang City. We will spare no support within the legal framework so that HS Hyosung and companies across its value chain can continue making long-term investments with confidence." He also urged HS Hyosung to continue exploring new investment opportunities in Da Nang, particularly in high-tech industries, supporting industries, advanced materials and other fields with strong potential for participation in global supply chains.
The ceremony also included the signing of a memorandum of understanding (MOU) between HS Hyosung and Vietnam's VinFast for the supply of automotive parts.
[email protected] Kim Jun-seok Reporter