Asia Tech Wire (Oct 22) -- South Korea's SK Group has acquired Vietnamese semiconductor company ISCVina for $300 million, according to a government statement.

ISCVina Manufacturing Co. is located in the northern part of Vietnam's Vinh Phuc province and operates at Ba Thien II Industrial Park.

The deal comes at a time when the Vietnamese government has been vigorously supporting the semiconductor industry in recent years, with a view to building three manufacturing plants and 20 packaging and testing plants by 2050.

Over the past few years, Vietnam has attracted investment from a number of semiconductor companies, including Samsung Electronics, Intel, ASE Technology, Amkor Technology, Texas Instruments, NXP, ON Semiconductor, Qualcomm, Renesas Electronics, Marvell Technology, Infineon, and Synopsys.

SK Group's acquisition of ISCVina is the latest case of a world-renowned semiconductor company investing in Vietnam.