HWASEUNG RACH GIA COMPANY LIMITED

HWASEUNG RACH GIA COMPANY LIMITED, known locally as Công Ty TNHH Hwaseung Rạch Giá, is a foreign-invested enterprise playing a strategic role in Vietnam’s global footwear supply chain. Officially established on June 29, 2017, the company is registered under Business ID and Tax Code 1702093173 with the Kien Giang Department of Planning and Investment. Legally structured as a one-member limited liability company, it is wholly owned by Hwaseung Vina Co., Ltd, located in Nhơn Trạch Industrial Park, Đồng Nai Province.

The company’s headquarters is at Road No. 4, Thanh Loc Industrial Park, Thanh Loc Commune, Chau Thanh District, Kien Giang Province, operating a large-scale production facility with over 7,000 employees. HWASEUNG RACH GIA is led by General Director Mr. Lee G. Y., a South Korean national with extensive experience in manufacturing operations across Asia.

Specializing in manufacturing and processing footwear for the Adidas brand, HWASEUNG RACH GIA has quickly scaled into one of the largest export-focused producers in Vietnam’s southern region. The company's main activity is the production of athletic and casual footwear, and its operations are part of Adidas' global supply chain. In addition to manufacturing, the company is also registered to engage in electric power generation, reflecting its ambition to integrate more sustainable and self-reliant production practices

Financially, HWASEUNG RACH GIA has witnessed a dramatic transformation. In 2023, the company recorded USD 119.5 million in revenue, nearly tripling its sales compared to 2022. Its net profit surged to USD 3.9 million, while total assets expanded to USD 64 million—a 220% increase year-over-year. Most notably, owner’s equity turned around from negative to a strong USD 15.67 million, showcasing a financial turnaround that demonstrates the company’s growing stability and investment readiness

Despite rapid growth, the company reported negative working capital of USD -15.22 million in 2023, suggesting tight liquidity, possibly due to aggressive expansion or capital investment. This highlights the importance of continuous credit monitoring and financial due diligence—areas where professional services like those from VANGUARD BUSINESS INFORMATION LLC (VNBIS) become essential. Through VNBIS.com, investors, buyers, and lenders can access reliable, in-depth credit reports, risk assessments, and financial diagnostics to make smarter, safer business decisions when partnering with large-scale manufacturers like HWASEUNG RACH GIA.

In conclusion, HWASEUNG RACH GIA is a flagship FDI enterprise in Vietnam’s footwear sector, serving global brands with impressive production capacity and a fast-improving financial structure. Its journey from deficit to profitability within just a few years reflects both the potential and the risks inherent in export-driven manufacturing—making transparent company data and timely credit analysis more critical than ever.