RoK Electronics Company to establish IT research and development center in Da Nang

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The signing ceremony of the MoU between Da Nang Investment Promotion Agency and LG Vehicle Component Solutions – Development Centre Photo: Vietnam Finance

Da Nang Investment Promotion Agency and Vehicle Component Solutions- Development Center of LG Electronics Vietnam Hai Phong Co. Ltd have signed the memorandum of understanding, Vietnam Finance reported.

Under the memorandum of understanding, the Vehicle Component Solutions- Development Center will train and admit IT Vietnamese students to work at its premises and give a priority to Da Nang as it has demand for business expansion.

Meanwhile, Da Nang Investment Promotion Agency will coordinate with relevant agencies to assist LG in implementing procedures for setting up the center as well as support its member companies, research and development centers, satellite manufacturers, and subsidiary manufacturers to survey and invest in the coastal city.

Director of the Vehicle Component Solutions – Development Centre Jung Seung-min said that the center is expected to create a new face for Da Nang in electronic R&D.

As of September 15, RoK investors had run 232 projects in Da Nang with a total investment of over 390 million USD, ranking fifth among foreign investors in the city. Most of the projects are in services and real estate.

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