HWASEUNG VINA CO., LTD

HWASEUNG VINA CO., LTD (CÔNG TY TRÁCH NHIỆM HỮU HẠN HWASEUNG VINA) is a large-scale foreign direct investment (FDI) enterprise specializing in the manufacturing and processing of sports footwear and related materials. Officially registered on April 2, 2002, the company is headquartered in Nhon Trach 1 Industrial Park, Dong Nai Province, Vietnam, and operates under Business ID 3600526590. For over 23 years, HWASEUNG VINA CO., LTD has maintained an active legal and operational status, establishing itself as a key supplier in the global sportswear manufacturing supply chain.

The company is a wholly owned subsidiary of HWASEUNG ENTERPRISE CO., LTD, based in Busan, South Korea. With a charter capital of USD 65 million and an impressive paid-up capital equivalent to over USD 846 million as of December 31, 2023, HWASEUNG VINA CO., LTD exemplifies strong foreign backing and long-term investment commitment. As of the latest reporting period, the company employs a workforce of 15,800 people, under the leadership of General Director Mr. Lee Gie Yeong, a South Korean national with deep expertise in industrial operations.

The core business of HWASEUNG VINA CO., LTD includes the processing and manufacturing of sports shoes, sandals, EVA sheets, plastic products, synthetic rubber, and shoe components. The company is also active in secondary fields such as property trading, management consultancy, paper product manufacturing, chemical production, and recycling. It operates multiple production and support facilities in Dong Nai Province, allowing for extensive production scalability and supply chain integration.

In financial terms, the company reported total assets of USD 426.86 million and revenue of USD 316.59 million for the fiscal year ending December 31, 2023. Although its revenue dropped by 41.52% compared to 2022, the company significantly narrowed its net loss to USD -8.92 million, reflecting a 58.11% improvement year-over-year. Its owner’s equity remained relatively stable at USD 117.62 million, despite operational challenges in a volatile export market.

HWASEUNG VINA CO., LTD maintains a robust infrastructure and long-term production capability that aligns with global sportswear manufacturing demands. However, the negative working capital of USD -30.97 million and three consecutive years of losses may warrant close attention from partners and suppliers. VBI advises clients to apply enhanced due diligence and continual financial monitoring, especially given the cyclical nature of export manufacturing and evolving global trade dynamics.

Clients engaging with HWASEUNG VINA CO., LTD are encouraged to consult VBI's verification services, including payment behavior checks, legal compliance screenings, and customized credit assessments. These tools are essential for minimizing risk and ensuring well-informed business decisions in high-volume, capital-intensive sectors such as footwear and industrial production.