Hyosung Group has invested $3.5 billion establishing its presence in Vietnam's major manufacturing hubs namely Hanoi, Ho Chi Minh City, Dong Nai and Ba Ria - Vung Tau and employed 9,000 people, according to the Vietnamese government, said the report.
"Hyosung plans to inrease total investment to $5.5 billion this year," Cho Hyun-sang said.
The report, however, did not state the investments would be for which fields.
The company did not immediately respond to a Reuters request for comment.
Last month, the company announced plans to invest $720 million in a biotech fiber manufacturing plant in southern Vietnam.
(Reporting by Phuong Nguyen; Editing by Rashmi Aich)
