VinTech to Open its First Office Overseas

DEAGU,South Korea,March 4,2019 -- On 4th,March 2019,Vingroup has officially debuted VinTech Korea Research in the City of Deagu,Korea to research applied IoT technologies,artificial intelligence,robotics,smart manufacturing plants and to develop 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.

A Memorandum of Understanding was signed between VinTech Technology Development JSC,VinFast Production and Trading Co.,Ltd.,Deagu Municipal Government,Daegu Gyeongbuk Free Economic Zone and AJINEXTEK on the basis of mutual trust to work towards regional economic development and business promotion

Located in Daegu -- a city famous for theirelectronics industry,VinTech Korea (VKR) is a part of VinTech Technology Development.,JSC with an investment of 11 million USD.

Speaking at the inauguration ceremony,Mr. Vo Quang Hue – Deputy CEO of Vingroup,said:

"Vingroup chose Korea to open our first overseas office in the global VinTech Research Network becauseofKorea'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.

The main research areas of VinTech Korea are Industrial Robots,Monitoring & Control,LCD and Battery Technology. In the first phase,VKR will research,develop and design the 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 functions,VKR will check the quality of VinTech products through 7 National Quality Control Centers in Korea. Especially,VKR will also attract experienced engineers and employees for VinTech as well as for other branches of Vingroup.

To reach our goals,VinTech in Korea signed a cooperation 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 was signed between VinTech Technology Development JSC,Daegu-Gyeongbuk Free Economic Zone Authorityand AJINEXTEK. Accordingly,VinFast will cooperate with Daegu city and Daegu-Gyeongbuk Free Economic Zone Authorityto provide information and support in the logistical 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.

Another Memorandum of Understanding was signed between VinTech Technology Development JSC. and the Province of Gyeongsangbuk (where Deagu city is situated) on the basis of mutual trust to work towards regional economic development and business promotion.

Daegu and Daegu-Gyeongbuk Free Economic Zone Authority,Gyeongsangbuk province,will support VinFast and VinTech to deploy and achieve according to plan,and to reach our targets and fulfill our promises.

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,Russia. These countries are home to many technology startups,experts,industry-leading research groups,where the most sophisticated laboratories and testing centers are housed.

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 meanwhile taking the final steps to open new offices in Shanghai,China and Seoul,Korea. With the presence of the first VinTech office in a foreign country,Vingroup continued to affirm its global vision and ability to deploy in the 10-year journey to become a world-class competitor in Technology - Industry- Service.

About Vingroup

Vingroupis the largest private enterprise in Vietnam and is among the businesses that have the most positive impact on the 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 Vietnam Football Talent Development Investment Fund,VCCA Contemporary Art Center and VinTaTa Animation Studio.

Photo - https://photos.prnasia.com/prnh/20190304/2390443-1