(Photo: VNA)

LG recently signed an agreement with Vietnamese real estate developer Trung Nam Land Joint Stock Co. to set up at the Da Nang Information Technology Park Tower in central Vietnam.

The deal follows LG's memorandum of understanding with Danang's Investment Promotion Agency last month on its R&D center establishment in the city.

LG reportedly plans to set up another R&D center dedicated to its vehicle component solutions business in Da Nang, but the sources said its research field could expand with more of its subsidiaries participating.

LG already runs a R&D center focused on its vehicle component solutions business in Hanoi. In 2014, LG set up a plant in Haiphong, northern Vietnam, producing home appliances, smartphones and in-vehicle infotainment components.