South Korean firms in Vietnam face growing competition from China

HANOI -- From Samsung Electronics to LG, South Korean companies have long led foreign direct investment in Vietnam, making the Southeast Asian country a critical manufacturing hub in global supply chains. But they are now being pushed back by Chinese peers, according to the representative of the Korea Chamber of Commerce and Industry (KCCI) in the country.

"Looking at the cumulative amount of investment in Vietnam since 1988, South Korea ranks first with $85.8 billion, ahead of Singapore and Japan. However, in recent years, Korea has been in a neck-to-neck competition with China," Kim Hyong-mo told Nikkei Asia in an interview.