According to Yonhap News,
Danish wind turbine producer Vestas Wind Systems will move its Asia-Pacific headquarters to Seoul in September and build a new facility to produce key equipment for wind turbines here, Seoul's industry ministry said Monday.
Vestas' President and CEO Henrik Andersen announced the decision during a meeting with South Korea's Industry Minister Lee Chang-yang in Seoul, as Anderson is visiting the country to discuss details of its investment plan worth US$300 million, according to the Ministry of Trade, Industry and Energy.
Under the plan, the company will relocate the Asia-Pacific headquarters from Singapore to Seoul in September and begin the construction of a large-scale turbine parts plant in the first half of 2024 that will produce key equipment for wind turbines for export to the entire Asia-Pacific region.
In January, the world's No. 1 wind turbine producer held a ceremony in Davos to announce the investment decision, with President Yoon Suk Yeol in attendance.
"Vestas' presence in South Korea is expected to contribute to the overall ecosystem of the domestic wind power industry. The government will extend active support for the successful execution of the planned investment," Lee said.
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Source: Yonhap News (Jun 26, 2023)