Siemens chooses Korea for energy solution HQ

Siemens Korea said yesterday the German electrical engineering company will establish the headquarters of its energy solution business in Korea as part of efforts to increase investment in the country. Siemens’ energy solution business aims to provide various methods for power generation.

The headquarters will be in charge of operations in the Asia-Pacific region and Middle East. By 2017, about 500 jobs will be added, the company said.

Siemens also will bring German experts on power generation solutions to Seoul to share their know-how with Korean engineers. The company expects that will have a ripple effect across the industry as it plans to work together with small local companies.

Korea was chosen for the new headquarters because of President Park Geun-hye’s policy to improve the business environment, the country’s efforts to increase free trade with advanced countries, increasing competitiveness of Korean construction companies and bright local talent, the company said.

“This year marks the 130th anniversary of relations between Korea and Germany, and I am glad to announce this investment plan today.” said Kim Jong-kap, CEO of Siemens Korea.

By Song Su-hyun [ssh@joongang.co.kr]