(SEOUL=NEWSIS) Bosch will invest more than KRW 62 billion (42.7 million euros) this year into its Korean locations. KRW 60 billion will be invested into its Daejeon plant for the manufacturing of diesel direct injection and gasoline direct injection products.

Bosch strengthened its local presence in Korea by opening a new plant in Busan in October of 2013 with large manufacturing and logistics areas. This year, Bosch will invest another KRW 1 billion into the facility, which produces industrial hydraulics and electric drives and controls.

2014 marks the 25th anniversary of Robert Bosch Korea. It recorded total consolidated sales of KRW 1.8 trillion in Korea in 2013, which accounts for 2.7 percent of its global sales of 46.1 million euros.

“We have established a solid foundation for sustainable, long-term growth by strengthening our core business sectors, continuing with investments, and diversifying our businesses. Looking to 2014, we expect regional sales to pick up significantly and grow double-digit over the year, mainly due to the development of the automotive technology business,” said Hermann Kaess, president and CEO of Bosch Korea.

Bosch Korea manufactures and markets automotive original equipment and aftermarket products, industrial automation and mobile products, power tools and accessories, security technology as well as small home appliances.

ijoinon@newsis.com