Invest KOREA

Seoul city signed a memorandum of understanding (MOU) with Siemens yesterday for the establishment of the Asia headquarters of Siemens’ Energy Solution Business in Seoul.

Park Won-soon, the Mayor of Seoul, Choi Dong-yoon, an official from the Economic Planning Office of Seoul City, and Kim Jong-kap, Chairman and CEO of Siemens Korea, attended the signing ceremony.

The Asia headquarters of Siemens’ Energy Solution Business, to be established in October, is expected to facilitate Seoul’s economy and create quality jobs.

Siemens employees dispatched from Germany to Seoul will transfer state-of-the-art, environmentally friendly plant designs and technology to help develop Korea as an energy solutions hub of not only the Asia-Pacific region, but also the Middle East.

Siemens decided to establish its Asia headquarters in Korea last March with an MOU with the Ministry of Trade, Industry and Energy. After reviewing potential locations, the German group selected Seoul for its openness to foreign investment and foreigner-friendly environment.

Once the Asia headquarters is developed, it is expected to play an important role in the energy solution business of the Asia Pacific region and also the Middle East.

Mayor Park said Siemens’ Asia headquarters will serve as a cornerstone to attract other global companies to invest in Korea, adding that Seoul will cooperate to make the headquarters a success case.


Source Text

Source: Newssis (May 27, 2013)

** This article was translated from the Korean.