Business
Vingroup tech arm branching out to South Korea
VinTech Korea is part of Vingroup’s ambition to become a technology giant.
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.
Gen X Energy eyes $6 billion gas project in southern coast
Tapping into opportunities for martech in Vietnam
Vietnam's marketing technology landscape is evolving rapidly, propelled by a niche group of "whale" users who are driving a large portion of in-app purchases.
Tasco and Geely launch joint venture for car assembly plant in Vietnam
This agreement marks a significant step forward in the collaboration between two major automotive companies from Vietnam and China.
SuperPort Vietnam unveils new vision, targets net-zero emissions by 2040
SuperPort Vietnam is set to become a multimodal logistics hub, linking China and Southeast Asia's freight networks with global markets.
TNH Hospital Group eyes major foreign investment to fuel ambitious expansion
Foreign capital is anticipated to aid TNH Hospital Group Joint Stock Company (TNH) in realizing its ambitious expansion plans.
Mcredit stumbles as rivals surge ahead in consumer finance boom
While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
Top firms leverage capital for long-term gains amid challenges
Well-managed companies not only seek capital but also maximize their investments, creating a solid foundation for long-term growth.