Korea Copper Tech Vietnam Co., Ltd (Vietnam)

The subject was founded in 2007 by a South Korea-based company with the core business of manufacturing copper electric wire and cable. The subject operated ineffectively. South Korean partner -TOPMOST COPPER TECH CO., LTD sold 80% charter capital of the subject to a group of Vietnamese individuals in May 2019 and continued to reduce the ownership rate to 13.151% in Nov 2019. Since that, the subject has changed in operating structure, invested strongly to expand production scale as well as technology improvement. The subject recorded profit since 2020 but profit still fluctuated between years. According to the chief accountant, its biggest supplier is DONG PHUONG INDUSTRIAL AND COMMERCIAL JOINT STOCK COMPANY  which supplied from 70% to 80% of materials for the subject. Besides it also bought from other domestic suppliers or imported directly from China (main market) and South Korea  (import ratio is from 10% to 20%). The majority of its products are supplied to the domestic market or spot export. Only a small amount is exported to Malaysia or South Korea. In 2022, the subject has been investing to build a new factory nearby the current one, in order to manufacture rotor, stator. The new factory has a total investment of VND 100 billion, on land of 7,977 m2. As revealed, this factory has been completed and a part of it is used for rent. The remaining part is used for manufacturing rotor, stator which was affiliated with another company named V V ELECTRICAL COMPANY LIMITED. The subject contributed capital and this partner is in charge of technology and consumption. This new product was put into trial production in Oct 2023 and has just been officially produced recently.The post-epidemic economic recession also had negative effects on its operation. Besides, the competition in the industry causes the subject to reduce prices. In general, the estimated revenue for 2023 will decrease to about VND 1,600 billion and the subject still generated profit, she added.