A memorandum of understanding (MoU) is signed between VinTech Technology Development JSC,
VinFast Production and Trading Co., Ltd, Daegu city, Daegu-Gyeongbuk Free Economic
Zone Authority and AJINEXTEK (AXT)
The firm’s first overseas technology office will provide facilities for technology transfer, quality accreditation and high-quality human resources attraction.
VinTech Korea, part of VinTech Technology Development JSC, has total investment of USD11 million.
At the inauguration ceremony, VinGroup Deputy Director General Vo Quang Hue said the corporation chose the RoK to build its first research and development (R&D) centre as this East Asian country has considerable experience in R&D activities.
He expressed his hope that cooperation with the RoK will help branch out resources for high-quality technology R&D activities towards developing VinGroup into a technology conglomerate able to compete with foreign rivals.
VinTech Korea’s main research areas cover industrial robots, monitoring and control, LCDs and battery technology. In the first phase, it will research to design electronic controller units for cars and battery control systems. It will also manufacture electronic car components, industrial robots, LCDs for automotive products, phones and TVs, among others.
To realise these targets, VinTech Korea and AJINEXTEK (AXT), which owns more than 100 patents for Chipset design in robot and automation in the RoK, have signed a cooperation deal for technology R&D.
In the framework of the inauguration 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 work with Daegu city and Daegu-Gyeongbuk Free Economic Zone Authority to provide information and support in logistical and administrative work.
VinTech will contribute to the establishment of the Asian Regional Research and Development Centre with local partners in Daegu.
Meanwhile, AXT will launch a line of robots to bolster local economy.
Daegu city and the Daegu-Gyeongbuk Free Economic Zone Authority will provide support for VinFast.
Earlier, another MoU was sealed between Vintech Technology Development JSC and Gyeongsangbuk province’s authority for regional economic development and business promotion.
Following Korea, VinGroup plans to develop its VinTech network in countries like the US, Japan, Israel, China and Russia.
Building a global VinTech network will give VinGroup 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 Vietnam and operates in real estate, hospitality and entertainment, retail, health, education, agriculture, industry and technology./.