Japanese brands, factories gain traction in Vietnam despite Korean competition

Japanese companies are expanding manufacturing and retail operations in Vietnam, where Japanese industrial parks, brands and products have gained consumer and worker support. Thang Long Industrial Park near Hanoi is fully occupied, while Sumitomo is developing additional sites and Toyota is investing $283.7 million in hybrid-vehicle production. Japan is seeking to narrow Korea’s larger Vietnamese market presence, including through a bilateral trade target of $60 billion by 2030.

More than 100 Japanese companies operate at Thang Long Industrial Park, which covers 2.73 million square meters and employs about 60,000 Vietnamese workers.

Sumitomo Corp. developed Thang Long 2 in Hung Yen Province and Thang Long 3 in Vinh Phuc Province, while Thang Long 4 in Thanh Hoa Province is targeted to open in 2027.

JETRO found that 181 of 473 Japanese companies relocating factories within ASEAN moved to Vietnam, compared with 99 to Thailand and 68 to Indonesia.

A Q&Me survey found that 59 percent of Vietnamese respondents viewed Japanese products very positively, while 81 percent rated them high-quality and 78 percent considered them trustworthy.

JETRO estimated that about 9,000 Korean companies and approximately 2,500 Japanese firms operated in Vietnam, while Korea-Vietnam bilateral trade reached $94.6 billion last year compared with Japan-Vietnam trade of $51.4 billion.

Published Oct 8, 2026 12:00 am KST

At Thang Long Industrial Park, Japanese companies win workers' loyalty with stability, strong brand reputation

Vietnam’s national flag and Japan’s flag fly side by side at a Panasonic factory in Thang Long Industrial Park in Hanoi. Korea Times photo by Jeong Ji-yong

HANOI — About a 30-minute drive northwest of downtown Hanoi on Friday, the entrance to Thang Long Industrial Park came into view after crossing Nhat Tan Bridge, which connects Hanoi with Noi Bai International Airport.

At factories throughout the industrial complex, Vietnam’s red flag with a yellow star flew alongside Japan’s flag.

Developed by Japanese trading house Sumitomo Corp., the industrial park is, in effect, a cradle of Japanese manufacturing. Beyond the entrance, signs for more than 100 Japanese companies, including Panasonic, Canon and Fujitsu, stretched across a 2.73-million-square-meter site. Some 60,000 Vietnamese workers stream into the complex every day.

A female worker at Panasonic said Japanese companies were regarded as more stable, even though Chinese and Korean firms paid higher wages, adding that many employees stayed for years.

“Many skilled workers have been here for more than 10 years, and new employees join every month, so the atmosphere is good,” she said.

Nguyen Thanh, 32, a management employee at the industrial park, said it had reached full occupancy, leaving no room for new tenants.

Construction is underway on a large dormitory building in Kim Chung village, a residential area for Vietnamese workers across from Thang Long Industrial Park. Korea Times photo by Jeong Ji-yong

From Thailand to Vietnam, factories reshape local communities

Panasonic halted refrigerator and washing machine production in Thailand in May 2020 and moved its production lines to Thang Long Industrial Park in Vietnam. About 800 Thai workers were subject to layoffs at the time. Facing intensifying competition from Chinese manufacturers, the company chose Vietnam for its lower labor costs.

Japan is Vietnam’s largest provider of official development assistance (ODA), but Japanese companies have generally been slower than their Korean counterparts to establish a presence in the country. Recently, however, Japan has increasingly been selecting Vietnam as a manufacturing base and quietly accelerating its expansion.

Kim Chung village, across a six-lane road from the industrial park, is home to Vietnamese factory workers. At its entrance, construction was underway on four or five large dormitory complexes, each lined with hundreds of windows.

The neighborhood had traditionally consisted of tightly packed villas four or five stories tall. But as demand for housing has surged, it has been transformed into a large-scale dormitory district.

Supermarkets, open-air cafes and Japanese language schools have sprung up around the dormitories to serve workers.

Hoang, 20, an employee of Sumitomo Electric Industries’ Vietnam operation, SEEV, said he had worked there since graduating from high school.

“Monthly rent is relatively cheap at around 2 million dong (about $76), so many young workers who want to save money live here,” he said.

A worker arrives for work at a Panasonic factory in Thang Long Industrial Park in Hanoi. Korea Times photo by Jeong Ji-yong

Japanese factories spread across Vietnam

Japanese industrial parks have expanded beyond Hanoi into northern and central Vietnam. After Thang Long Industrial Park in Hanoi reached capacity, Sumitomo Corp. developed Thang Long 2 in Hung Yen Province and Thang Long 3 in Vinh Phuc Province. The company is also building Thang Long 4 in Thanh Hoa Province in central Vietnam, with an opening targeted for 2027.

Individual Japanese companies are also expanding their investments.

Toyota decided in August to invest an additional $283.7 million in its factory in Phu Tho Province to produce hybrid vehicles. Murata Manufacturing, an electronic components maker, also decided in May last year to expand production lines for inductors and coils at its factory near Ho Chi Minh City.

Japanese companies’ expansion into Vietnam is underpinned by solid business prospects.

According to a survey released by the Japan External Trade Organization (JETRO) in September last year, 67.5 percent of Japanese companies operating in Vietnam expected to post operating profits, far exceeding the 17.6 percent that anticipated losses. Vietnam also ranked first among countries in the Association of Southeast Asian Nations (ASEAN), with 56.9 percent of respondents saying they planned to expand their businesses within the next one or two years.

Vietnam is increasingly establishing itself as a manufacturing hub for Japanese companies. In a 2024 survey of Japanese companies operating in ASEAN, JETRO found that of 473 firms that had relocated factories from other countries to the region, the largest number — 181, or 24.8 percent — had moved to Vietnam.

That figure far exceeded the numbers for Thailand, a traditional favorite among Japanese manufacturers, at 99, and Indonesia, at 68.

A Uniqlo flagship store stands on a street near Hoan Kiem Lake in central Hanoi.

The power of Japanese brands

Japanese retailers are also stepping up their efforts to capture the Vietnamese market.

Near Hoan Kiem Lake in central Hanoi, a Uniqlo flagship store occupied the first and second floors of a French-style building. Since opening its first store in Ho Chi Minh City in 2019, the Japanese clothing retailer has expanded to 32 outlets nationwide and plans to add two more this fall, bringing the total to 34.

Thuy Linh, 25, an office worker who was shopping at the store, said Uniqlo was popular for its durable stitching and effective UV protection.

“The designs are also simple and clean, so I’d rather buy one item at Uniqlo than several pieces on Shopee,” she said.

Vietnamese consumers have considerable confidence in Japanese brands. According to a June survey by Q&Me, a Vietnam-focused market research firm, 59 percent of respondents said they viewed Japanese products very positively. Japan ranked first, ahead of the United States at 42 percent, Korea at 25 percent and China at 15 percent.

Some 81 percent rated Japanese products as high-quality, while 78 percent said they were trustworthy.

Japanese retailers are accelerating their expansion in Vietnam in response to this favorable reputation.

Retail giant AEON announced in August that it would withdraw from Thailand’s supermarket business, which it had operated for 40 years, and concentrate 60 percent of its ASEAN investments in Vietnam.

Takashiaya, the Japanese department store operator with a 200-year history, is also building its first mixed-use shopping complex in Hanoi’s Starlake new urban area, with an opening targeted for fall 2027.

Japan eager to narrow gap with Korea in Vietnamese market

Japan entered Vietnam before Korea did. For years, Japan was Vietnam’s largest ODA donor, supporting projects including Terminal 2 at Noi Bai International Airport, Nhat Tan Bridge and Ho Chi Minh City Metro Line 1. Toyota, Honda and Panasonic were among the leading foreign investors in Vietnam in the 1990s.

The balance began to shift in the 2010s, as investment by Korean companies such as Samsung, LG and Hyundai Motor surged.

In a report published in January last year titled Korea Takes Root in Vietnam, JETRO estimated that around 9,000 Korean companies operated in Vietnam, compared with approximately 2,500 Japanese firms.

Officials wave the national flags of Vietnam and Japan to welcome Japanese Prime Minister Sanae Takaichi and Vietnamese Prime Minister Le Minh Hung upon their arrival at the government headquarters in Hanoi, May 2. AFP-Yonhap

Japan, despite having established an early foothold, has found itself playing catch-up.

The Japanese government is now seeking to narrow the gap. In May, Japanese Prime Minister Sanae Takaichi met with Vietnamese Prime Minister Le Minh Hung in Hanoi and agreed to raise bilateral trade to $60 billion by 2030, up from $51.4 billion last year.

However, that target remains well below Korea and Vietnam’s bilateral trade of $94.6 billion last year and their goal of reaching $150 billion by 2030.

As speed and flexibility become increasingly important in emerging markets, attention is turning to how quickly Japan can translate its renewed push into results.

“Japan entered Vietnam before Korea, but its investment pace was relatively slow because of its cautious decision-making,” said Kim Hyung-mo, head of the Korean Chamber of Commerce and Industry in Vietnam.

“With Korean companies having established a strong foothold through rapid investment, competition in Vietnam will intensify further if the Japanese government and private sector step up their efforts.”

This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI system and edited by The Korea Times.

日本企业正在越南扩大制造和零售业务，日本的工业园区、品牌和产品已获得消费者和工人的认可。位于河内附近的升龙工业园已全部投入使用，住友集团正在开发更多园区，丰田汽车则投资2.837亿美元用于混合动力汽车的生产。日本正寻求缩小韩国在越南市场的份额，其中包括通过设定到2030年双边贸易额达到600亿美元的目标。

超过 100 家日本公司在升龙工业园运营，该工业园占地 273 万平方米，雇佣了约 6 万名越南工人。

住友商事株式会社在兴安省开发了升龙2号，在永福省开发了升龙3号，而位于清化省的升龙4号计划于2027年开业。

日本贸易振兴机构 (JETRO) 发现，在东盟内部搬迁工厂的 473 家日本公司中，有 181 家迁往越南，99 家迁往泰国，68 家迁往印度尼西亚。

Q&Me 的一项调查发现，59% 的越南受访者对日本产品持非常积极的看法，81% 的受访者认为日本产品质量很高，78% 的受访者认为日本产品值得信赖。

日本贸易振兴机构估计，约有9000家韩国公司和约2500家日本公司在越南开展业务，去年韩越双边贸易额达到946亿美元，而日越贸易额为514亿美元。

发布于2026年10月8日凌晨12:00（韩国标准时间）

在升龙工业园，日本企业凭借稳定的运营和强大的品牌声誉赢得了员工的忠诚。

在河内升龙工业园的一家松下工厂，越南国旗和日本国旗并排飘扬。（韩国时报 郑智勇摄）

河内——周五，从河内市中心向西北方向驱车约 30 分钟，穿过连接河内和内排国际机场的日新桥后，升龙工业园的入口便映入眼帘。

在整个工业园区的工厂里，越南的红黄五角星国旗与日本国旗并排飘扬。

该工业园区由日本住友商事株式会社开发，实际上是日本制造业的摇篮。园区入口处，超过100家日本企业的招牌林立，其中包括松下、佳能和富士通等，遍布于这片占地273万平方米的园区内。每天约有6万名越南工人涌入这里。

松下公司的一名女员工表示，尽管中国和韩国公司支付的工资更高，但日本公司被认为更加稳定，而且很多员工都工作了很多年。

“很多技术工人在这里工作超过10年了，而且每个月都有新员工加入，所以工作氛围很好，”她说。

32岁的阮清是该工业园区的一名管理人员，他说园区已经全部租出，没有空位容纳新租户了。

在金钟村，一座大型宿舍楼正在建设中。金钟村是越南工人的居住区，位于升龙工业园对面。（韩国时报 郑智勇摄）

从泰国到越南，工厂重塑了当地社区

2020年5月，松下停止了在泰国的冰箱和洗衣机生产，并将生产线迁至越南升龙工业园。当时约有800名泰国工人面临裁员。由于面临来自中国制造商日益激烈的竞争，该公司选择越南是因为其劳动力成本较低。

日本是越南最大的官方发展援助（ODA）提供方，但与韩国企业相比，日本企业在越南设立分支机构的速度通常较慢。然而，近年来，日本越来越多地选择越南作为制造基地，并悄然加快了在越南的扩张步伐。

金钟村与工业园区隔着一条六车道公路，是越南工厂工人的聚居地。村口正在兴建四五座大型宿舍楼，每座宿舍楼都装有数百扇窗户。

这个街区传统上由密集的四五层别墅组成。但随着住房需求的激增，它已经转变为一个大型的宿舍区。

为了服务工人，宿舍周围涌现出了许多超市、露天咖啡馆和日语学校。

20岁的黄是住友电工越南分公司（SEEV）的员工，他说自己高中毕业后就一直在那里工作。

他说：“这里的月租金相对便宜，大约200万越南盾（约合76美元），所以很多想省钱的年轻上班族都住在这里。”

一名工人抵达位于河内升龙工业园的松下工厂上班。（韩国时报 郑智勇摄）

日本工厂遍布越南各地。

日本工业园区已从河内扩展到越南北部和中部地区。河内升龙工业园达到饱和后，住友商事株式会社在兴安省开发了升龙2号园区，在永福省开发了升龙3号园区。该公司还在越南中部清化省建设升龙4号园区，预计将于2027年投入运营。

日本各家公司也在扩大投资。

丰田汽车公司于去年8月决定向其位于富寿省的工厂追加投资2.837亿美元，用于生产混合动力汽车。电子元件制造商村田制作所也于去年5月决定扩建其位于胡志明市附近工厂的电感器和线圈生产线。

日本企业进军越南市场的背后是坚实的商业前景。

根据日本贸易振兴机构（JETRO）去年9月发布的一项调查，在越南经营的日本企业中，67.5%预计实现盈利，远高于预计亏损的17.6%。越南在东盟国家中也位居榜首，56.9%的受访者表示计划在未来一两年内扩大在越南的业务。

越南正日益成为日本企业的制造中心。日本贸易振兴机构（JETRO）在2024年对在东盟运营的日本企业进行的一项调查发现，在473家已将工厂从其他国家迁至该地区的企业中，数量最多的是越南，共有181家，占比24.8%。

这个数字远远超过了泰国（日本制造商的传统首选）的 99 个，以及印度尼西亚的 68 个。

优衣库旗舰店位于河内市中心还剑湖附近的一条街道上。

日本品牌的力量

日本零售商也在加大力度开拓越南市场。

在河内市中心还剑湖附近，优衣库旗舰店占据了一栋法式建筑的一楼和二楼。自2019年在胡志明市开设首家门店以来，这家日本服装零售商已在全国开设了32家门店，并计划今年秋季再增设两家，使门店总数达到34家。

25岁的上班族Thuy Linh当时正在店内购物，她说优衣库因其耐用的缝线和有效的紫外线防护而广受欢迎。

“优衣库的设计也简洁干净，所以我宁愿在优衣库买一件，也不愿在Shopee上买好几件，”她说。

越南消费者对日本品牌抱有相当高的信心。据专注于越南市场的市场调研公司Q&Me六月份的一项调查显示，59%的受访者表示他们对日本产品持非常积极的看法。日本位居榜首，其次是美国（42%）、韩国（25%）和中国（15%）。

约 81% 的人认为日本产品质量很高，78% 的人表示日本产品值得信赖。

受越南良好声誉的鼓舞，日本零售商正在加快在越南的扩张步伐。

零售巨头永旺集团于8月宣布，将退出其经营了40年的泰国超市业务，并将60%的东盟投资集中在越南。

拥有 200 年历史的日本百货公司运营商高屋株式会社 (Takashiaya) 也在河内星湖新城区建造其首个综合用途购物中心，预计将于 2027 年秋季开业。

日本急于缩小与韩国在越南市场的差距

日本比韩国更早进入越南市场。多年来，日本一直是越南最大的官方发展援助（ODA）捐助国，支持的项目包括内排国际机场2号航站楼、日新大桥和胡志明市地铁1号线。丰田、本田和松下是20世纪90年代越南的主要外国投资者。

2010年代，随着三星、LG和现代汽车等韩国公司投资激增，这种平衡开始发生变化。

日本贸易振兴机构（JETRO）去年1月发布的一份题为《韩国在越南扎根》的报告中估计，约有9000家韩国公司在越南运营，而日本公司则约为2500家。

5月2日，日本首相高市早苗和越南总理黎明兴抵达河内政府总部时，官员们挥舞着越南和日本国旗表示欢迎。（法新社-韩联社）

尽管日本早期就站稳了脚跟，但现在却发现自己处于追赶状态。

日本政府目前正努力缩小双边贸易差距。今年5月，日本首相高市早苗在河内会见了越南总理黎明兴，双方同意到2030年将双边贸易额从去年的514亿美元提高到600亿美元。

然而，这一目标仍然远低于韩国和越南去年 946 亿美元的双边贸易额，以及到 2030 年达到 1500 亿美元的目标。

随着速度和灵活性在新兴市场变得越来越重要，人们的注意力开始转向日本如何才能迅速将其重新加大投入转化为成果。

“日本比韩国更早进入越南，但由于其决策谨慎，投资步伐相对较慢，”韩国驻越南工商会会长金亨模表示。

“随着韩国企业通过快速投资在越南站稳脚跟，如果日本政府和私营部门加大力度，越南的竞争将会进一步加剧。”

本文来自《韩国日报》（《韩国时报》的姊妹报），由人工智能生成系统翻译，并由《韩国时报》编辑。