LG to set up R&D centre for vehicle component solutions in Da Nang
The Republic of Korea’s conglomerate LG will establish a centre for research and development (R&D) on vehicle components in the central city of Da Nang.
The signing ceremony of the MoU between Da Nang Investment Promotion Agency and LG Vehicle Component Solutions – Development Centre (Source: Tuoitrenews)Da Nang (VNA) – The Republic of Korea’s conglomerate LG will establish a centre for research and development (R&D) on vehicle components in the central city of Da Nang.
This is part of a memorandum of understanding signed between the city’s Da Nang Investment Promotion Agency (IPA) and the Vehicle Component Solutions – Development Centre (LG VS) of LG Electronics Vietnam Hai Phong Co. Ltd. on October 6.
Under the MoU, the IPA will coordinate with relevant agencies to help LG with carrying out procedures for setting up the centre, as well as supporting the conglomerate’s member companies, research and development centres, satellite manufacturers, and subsidiary manufacturers to survey and invest in Da Nang.
On the other way, the LG VS will admit IT students from the Vietnamese city to work at its premises and give a priority to the coastal city when it has demand for business expansion.
Director of the Vehicle Component Solutions – Development Centre Jung Seung-min said that the centre hopes 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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