Vietnam Business Channel

Vingroup opens South Korea research center

Vietnam’s Vingroup officially launched “The VinTech Korea Research Center” in the City of Daegu, South Korea to research the applications of artificial intelligence, IoT technologies, robotics, and smart manufacturing plants as well as developing products and solutions for vehicles and transportation on Monday.

The VinTech Korea Research (VRK) is the first research center of its kind to be opened by VinGroup in a foreign country. The company believes that the new research center will enable technology transfer, quality accreditation and attraction of high-quality human resources, meeting the diversified business activities of Vingroup in the future.

According to reports, Vingroup is investing more than $11 million USD in the new research center. Daegu is the fourth largest city in Korea and the third largest metropolitan area in the country. The city has a population of 2.5 million people and is famous for its electronics industry.

Speaking at the research center’s inauguration ceremony, Vo Quang Hue, Deputy CEO of Vingroup said that Vingroup chose South Korea to open its first overseas office in the global VinTech Research Network because the country’s ‘creative index’ was among the best in the world with experience in research and development.

Hue said, “We expect the investment and co-operation in South Korea will help build and develop resources for high-quality technology research, aiming to make Vingroup a technology conglomerate with the ability to compete internationally.”

The main research areas of VinTech Korea are industrial robots, monitoring and control, LCD and battery technology. In the first phase, VKR will research and design vehicle control units (VCU) for cars and battery control systems (BMS). In the future, VKR aims to design electrical-electronic components for cars, industrial robots, LCDs for automotive products, phones and other household electronics.

Besides research and production functions, VKR will check the quality of VinTech products through seven national quality control centers in South Korea. VKR will also attract experienced engineers and employees for VinTech as well as for other branches of Vingroup.

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Vingroup leaders and representatives inaugurate the new VinTech office in South Korea. — Photo Vingroup

VinTech has signed a co-operation agreement with AJINEXTEK (AXT) – a South Korean company that owns more than 100 chipset patents in the field of robots and automation. The two sides are committed to supporting and creating the best environment to promote technology research and development.

During the opening ceremony, a memorandum of understanding (MoU) was signed between VinTech Technology Development JSC, VinFast Production and Trading Co., Ltd., Daegu Municipal Government, Daegu-Gyeongbuk Free Economic Zone Authority and AJINEXTEK.

Under the MoU, VinFast will co-operate with Daegu and the Daegu-Gyeongbuk Free Economic Zone Authority to provide information and support in logistical and administrative work. VinTech will also contribute to the establishment of an Asian Regional Research and Development Centre with local partners in Daegu. Meanwhile, AXT will launch a line of robots to promote the local economy and create jobs.

Another MoU was signed between VinTech Technology Development JSC and the Province of Gyeongsangbuk, where Deagu is situated, on the basis of mutual trust to promote regional economic development and business.

After South Korea, Vingroup plans to expand the VinTech Research network into other countries such as China, Israel, Japan, Russia and the United States, which are home to many technology start-ups, experts, industry-leading research groups with the most advanced laboratories and testing centers. With the goal of building a global VinTech network, Vingroup will have access to the most advanced technologies, high-quality human resources and the latest technology trends to meet its ever-growing development needs.

Vingroup is the largest private enterprise in Viet Nam and has one of the most positive impacts on national socio-economic development. Vingroup operates in core business areas, including real estate, hospitality and entertainment, retail, health, education, agriculture, industry and technology. In addition, Vingroup also invests in areas of social development such as the Vietnam Football Talent Development Investment Fund, the VCCA Contemporary Art Center and the VinTaTa Animation Studio.

In July 2018, VinFast Production and Trading Co. Ltd opened an office in Frankfurt, Germany, and is in the process of opening new offices in Seoul and Shanghai. With the presence of the first VinTech office in a foreign country, Vingroup continues to affirm its global vision and ability to deploy on a 10-year journey to become a world-class competitor in technology, industry and service.