# SBI and Vietnam's FPT partner on Hanoi memory chip packaging plant
*The non-binding pact pairs Japanese capital with Vietnamese engineering and two South Korean semiconductor manufacturers in an outsourced assembly site.*
**Published:** November 11, 2026
**By:** Mina Okoro
**Section:** Semiconductors & AI Hardware — Cross-border
**Format:** Breaking
**Confidence:** medium
**Source:** https://eastasiabrief.com/semiconductors/sbi-vietnam-s-fpt-partner-hanoi-memory-chip-packaging-1335
**Publisher:** East Asia Brief (https://eastasiabrief.com/)
---
## What to know
- SBI Holdings and FPT signed an agreement on Nov. 11 to back a memory packaging venture in Hanoi
- FPT IS will establish the facility alongside two unidentified South Korean semiconductor makers
- Partners plan preliminary joint investment review meetings in Tokyo in the first quarter of 2027
*A technician in protective cleanroom attire uses precision equipment to assemble and package semiconductor chips. (AI-generated image)*
Japan's SBI Holdings signed an initial agreement with Vietnam's FPT Corporation on Nov. 11 to invest in a joint-venture packaging facility for memory chips in Hanoi.
The transaction brings Japanese financial capital into an outsourced semiconductor assembly and test project. FPT plans to develop the manufacturing site through its systems integration subsidiary, FPT IS Company.
The companies did not disclose the total capital expenditure or the equity distribution for the venture. The project partners have not published the planned production volume for the Hanoi facility.
FPT IS plans to establish the operating company alongside two South Korean semiconductor manufacturers. The Vietnamese information technology group did not identify the two Korean partners in its project disclosures.
Under the memorandum of understanding, SBI Holdings will evaluate formal equity participation as an institutional investor. The pact does not establish binding funding commitments, according to a filing by SBI Holdings.
The signing took place in Tokyo during an official bilateral economic forum. Vietnamese Communist Party General Secretary and State President To Lam attended the session alongside Japanese business executives.
The venture aims to establish packaging lines for memory components. Packaging encases processed silicon wafers in protective carriers and attaches electrical contacts that connect chips to circuit boards.
The partners will endeavor to commence operations at an early date, SBI Holdings said. The corporate filing did not provide a specific date for groundbreaking or commercial qualification.
The Hanoi plant marks FPT's second major commitment to semiconductor manufacturing infrastructure. The company commenced trial runs at a separate testing and packaging plant in Bac Ninh Province on Nov. 3.
That 1,600-square-meter Bac Ninh facility operates six packaging lines. The facility has a maximum designed capacity of 300 million chips per year, according to FPT operating disclosures.
The Bac Ninh site focuses on domestic test operations using automated test equipment. The upcoming Hanoi project expands that work into high-volume memory module packaging.
The initiative reflects a regional push by Southeast Asian contract manufacturers to absorb back-end packaging. Back-end operations carry lower capital requirements than front-end wafer fabrication.
Geopolitical tensions between Washington and Beijing have accelerated that movement. Global chipmakers are shifting assembly lines out of mainland China to reduce trade compliance exposure.
South Korea's memory producers maintain significant assembly operations across East Asia. The two unidentified Korean partners will contribute packaging expertise and secure manufacturing output from the venture.
Vietnam has emerged as a primary destination for packaging diversification. Intel Corporation operates its largest global test and assembly plant in Ho Chi Minh City.
Amkor Technology opened a $1.6 billion packaging and testing facility in Bac Ninh in late 2023. Hana Micron operates memory packaging plants in Bac Giang Province.
The Hanoi joint venture gives FPT direct manufacturing ties to Korean memory supply chains. FPT had focused primarily on fabless integrated circuit design and enterprise software engineering.
The project deepens commercial links between SBI Holdings and FPT. The Japanese financial conglomerate held a 20% equity stake in FPT Securities as of 2010.
The two companies expanded their alliance in April 2025. SBI Holdings and Sumitomo Corporation each acquired a 20% stake in FPT Smart Cloud Japan.
SBI Holdings has steadily expanded its industrial technology balance sheet. The Tokyo-based group has sought direct investment opportunities in semiconductor infrastructure and domestic Japanese foundry construction.
Japanese financial institutions face rising domestic borrowing costs following monetary policy normalization by the Bank of Japan. Private equity allocations into overseas industrial assets provide alternate yield sources.
For Vietnam, attracting foreign back-end investment supports national semiconductor development targets. Hanoi aims to train 50,000 semiconductor engineers by 2030 to staff expanding electronics plants.
FPT Chairman Truong Gia Binh presented five industrial initiatives during the Tokyo forum. The proposals included a joint technology innovation fund and shared artificial intelligence infrastructure.
Memory chip assembly remains labor- and utility-intensive compared with logic design. Vietnam offers competitive industrial electricity rates and lower manufacturing technician wages than South Korea or Japan.
The project must still complete definitive shareholder negotiations. FPT IS and SBI Holdings have scheduled preliminary investment review meetings in Tokyo for the first quarter of 2027.
The notice does not state the capital expenditure budget for the Hanoi facility, and the companies have not named the two Korean semiconductor partners.
## Impact map
| Event | Korea | China | Japan | Global impact |
| --- | --- | --- | --- | --- |
| Vietnam memory OSAT joint venture | Two unnamed chipmakers diversify packaging lines outside Northeast Asia | Packaging lines face growing competition from Southeast Asian OSAT hubs | SBI Holdings deploys financial capital into ASEAN semiconductor manufacturing | Memory supply chains add outsourced capacity in northern Vietnam |
## In this story
- **Companies:** SBI Holdings, FPT Corporation
- **Tickers:** 8473.T
- **Exposed:** FPT IS Company
- **Impact:** Supply Chain, Capex, Order Book
## Primary sources
1. sbigroup.co.jp
2. technode.global
3. goodmorningvietnam.co.kr
4. nhandan.vn
5. storm.mg
---
Cite as: East Asia Brief, "SBI and Vietnam's FPT partner on Hanoi memory chip packaging plant," November 11, 2026. https://eastasiabrief.com/semiconductors/sbi-vietnam-s-fpt-partner-hanoi-memory-chip-packaging-1335