Opening a tech company (VinTech) in South Korea to research applied IoT technologies, Artificial Intelligence, robotics, smart manufacturing plants, and to develop products and solutions for vehicles and transportation will allow Vingroup to develop other tech companies in the US, Japan, Israel, and China.
|Representatives of VinTech and local enterprises signed MoU
On March 4, 2019, Vingroup has officially debuted VinTech Korea (VKR) in Daegu – a city famous for its electronics industry. As part of VinTech Technology Development JSC with an investment of $11 million, this is also one of the technology transfer facilities set up by Vingroup.
Speaking at the inauguration ceremony, Vo Quang Hue, deputy CEO of Vingroup, said, “Vingroup chose Korea to open our first overseas office in the global VinTech Research Network because Korea’s ‘Creative index’ is one of the highest on the globe, with extensive experience in research and development. We expect that investment and co-operation 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.”
The main research areas of VinTech Korea are industrial robots, monitoring & control, as well as LCD and battery technology. In the first phase, VKR will research, develop, and design 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.
Besides research and production, VKR will inspect the quality of VinTech products through seven National Quality Control Centres in Korea. VKR will also attract experienced engineers and employees for VinTech as well as the other branches of Vingroup.
To reach our goals, VinTech in Korea signed a co-operation agreement with Ajinextek (AXT) – a Korean company with more than 100 chipset patents in the field of robots and automation. VinTech and AXT 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 AXT.
Accordingly, VinFast will co-operate with Daegu city and Daegu-Gyeongbuk Free Economic Zone Authority to provide information and support logistics and administrative work. VinTech will contribute to the establishment of the Asian Regional Research and Development Center with local partners in Daegu. AXT will launch a line of robots to promote the local economy and create jobs.
It is expected that after Korea, Vingroup 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. These countries are home to many technology startups, experts, industry-leading research groups and host the most sophisticated laboratories and testing centers.
With the global VinTech network, Vingroup will have access to the most advanced technologies, high-quality human resources, and the latest technology trends to meet the ever-growing development needs of Vingroup.
Previously, in July 2018, VinFast Production and Trading Co., Ltd., a member of Vingroup, opened an office in Frankfurt, Germany and is taking the final steps to open new offices in Shanghai, China, and Seoul, South Korea. With the first VinTech office on foreign soil, Vingroup continues to walk towards its global vision set out for the next 10 years to become a world-class competitor in technology, industry, and services.