Vina Union Company Limited (Vietnam)

The subject was established in 2014 in Vinh Phuc province, Vietnam. It is invested 100% by UNION CO., LTD, a South Korean company. It specializes in manufacturing electronic components for mobile phones, and digital door locks. As shared, in two recent years, due to the negative influences of the COVID-19 epidemic and the post-Covid economic recession, input costs increased, meanwhile, the market demand reduced; so the subject's business results went down. This year, the company's operations were quite busy in the middle few months of the year, the total employees at that time increased to about 1,700 people from 1,200 people at the beginning of the year, yet then the number of orders decreased, so the company cut labor to 1,500 people, the subject's staff revealed. In general, transactions should be proceeded under periodic monitoring.