The Ministry of Trade, Industry and Energy (MOTIE) signed a memorandum of understanding with Siemens earlier this week at the Plaza Hotel Seoul to attract investment in the power generation engineering sector. Siemens had clearly expressed its intent to invest.

If Siemens invests as planned, it will contribute to technology development in the energy and plant engineering sectors.

“Siemens’ investment would create quality jobs and provide the firm with opportunities to grow together with the Asian market,” said Yoon Sang-jick, Minister of MOTIE.

“We will strengthen our cooperative ties with Korea through this MOU,” said Michael Suess, CEO of the Energy Sector of Siemens AG.

Source: Newsis (Mar. 26, 2013)

** This article was translated from the Korean.