DAEGU < invest Korea

(DAEGU=Yonhap News) The city of Daegu announced August 24 that Emotions, a company located in the local Dalseong Exclusive Foreign Investment Complex, will be entering global markets with its infotainment software technology for automobiles.

Emotion will be supplying the software technology to local auto parts maker Erae Automotive Systems, which will use it to make a smart infotainment air-conditioning controller system that will be supplied to German automaker Volkswagen.

This will the first case a small Korean company has participated in Volkswagen's electronic equipment software development, the city explained.

Erae Automotive will be supplying products to Volkswagen worth KRW 500 billion for the 8 years starting in 2019 that enable users to control music, television, navigation system, and air-conditioning on a large LCD screen.

Emotion, a startup established in November 2016, has received investments from U.S.-based companies.

Earlier this year in March, the company signed an investment MoU with the city of Daegu, registered as a foreign-invested company and is currently preparing to open its production facilities.



yij@yna.co.kr

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Source: Yonhap News (Aug. 24, 2017)