92% of South Korean Firms in Vietnam Want to Stay Amid Rising Labour Costs

A recent survey released by a South Korean business association revealed that 92% of Korean firms operating in Vietnam plan to stay in the country despite a sharp rise in local labour costs.
The findings come as Vietnam’s minimum wage has increased significantly over the past year, prompting concerns among foreign investors.
Respondents cited Vietnam’s strategic location, growing consumer market and well‑established supply chain infrastructure as key reasons for remaining.
Some companies also highlighted the government’s incentives and the ease of doing business as mitigating factors.
The survey suggests that, despite cost pressures, Vietnam remains a preferred destination for Korean manufacturers and service providers.