Vietnam’s largest private enterprise has opened a research center dedicated to applied internet of things (IoT) technologies, artificial intelligence, robotics, and smart manufacturing plants in South Korea’s Daegu City, a famous electronic hub.
Vingroup’s research center targets to develop products and solutions for vehicles and transportation.
The Vietnamese conglomerate said VinTech Korea (VKR) is part of VinTech Technology Development, a joint stock company with an investment of US$11 million.
"Vingroup chose Korea to open our first overseas office in the global VinTech Research Network because of Korea's "Creative index" is among the leading countries on the list, with experience in research and development,” said Vo Quang Hue, Deputy CEO of Vingroup, during the inauguration ceremony on March 4, 2019.
“We expect that investment and cooperation in Korea will help build and develop resources for high-quality technology research and development activities,” he added.
Vingroup said the main research areas of VinTech Korea include industrial robots, monitoring and control, LCD and battery technology.
“In the first phase, VKR will research, develop and design the electronic controller units for cars (VCU) and battery control systems (BMS). In the future, VKR aims to excel in manufacturing electrical-electronic car components, industrial robots, LCDs for automotive products, phones, and other household electronics,” the company said in a statement.
VinTech in Korea signed a cooperation agreement with AJINEXTEK (AXT), a Korean company with more than 100 chipset patents in the field of robots and automation.
During the opening ceremony, a memorandum of understanding was also signed between VinTech Technology Development JSC, VinFast Production and Trading Co.,Ltd., Deagu Municipal Government, Daegu-Gyeongbuk Free Economic Zone Authority, and AJINEXTEK.
Under the agreement, VinFast will cooperate with Daegu city and Daegu-Gyeongbuk Free Economic Zone Authority to provide information and support in the logistical and administrative work. It will also contribute to the establishment of the Asian Regional Research and Development Center with local partners in Daegu.
Meanwhile, AXT will launch a line of robots to promote the local economy and create jobs.
Another memorandum of understanding was signed between VinTech Technology Development JSC and the Province of Gyeongsangbuk (where Deagu city is situated) to work towards regional economic development and business promotion.
Vingroup said that after Korea, it will continue to expand VinTech Research Network in countries with technology and innovation culture, such as the US, Japan, Israel, China, Russia.
In July 2018, VinFast Production and Trading Co. Ltd, a member of Vingroup, also opened an office in Frankfurt, Germany meanwhile taking the final steps to open new offices in Shanghai, China, and Seoul, Korea.