Vietnamese multi-business conglomerate Vingroup has debuted a technology company in South Korea.
The group will invest $11 million in VinTech Korea, which is located in the city of Daegu and responsible for researching applied IoT technologies, artificial intelligence, robotics, smart manufacturing plants and developing products and solutions for vehicles and transportation.
This is also one of the technology transfer facilities, quality accreditation and attraction of high quality human resources, meeting diversified business activities for Vingroup in the future.
Deputy CEO of Vingroup Vo Quang Hue said Vingroup chose Korea to as first overseas destination 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.
“We expect that investment and cooperation in Korea will help build and develop resources for high-quality technology research and development activities, aiming to make Vingroup a technology conglomerate with the ability to compete internationally,” he said.
The main research areas of VinTech Korea are 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 and battery control systems.
VinTech Korea will check the quality of VinTech products through seven national quality control Centers in Korea while attracting experienced engineers and employees for VinTech as well as for other branches of Vingroup.
VinTech Korea has signed a cooperation agreement with AJINEXTEK – a Korean company with more than 100 chipset patents in the field of robots and automation.
Vingroup claims it will continue to expand VinTech research network in countries with strong suits of technology and innovation, such as the US, Japan, Israel, China and Russia.