The world’s largest auto parts maker Bosch plans to make an additional investment of 30 billion won in Korea this year.
Frank Schaefers, CEO of Bosch Korea, held a press conference at Plaza hotel in Seoul on June 30.
He said, “The Korean market is promising not only in automatic driving area but in connected automobile services based on the ultra-high-speed Internet.” He added, “Bosch has invested 260 billion won in Korea over the past five years. In addition to this year’s additional investment of 30 billion won, we will expand our investment in Korea further through various projects if possible.”
This year marked the 30th anniversary for Bosch to create its presence in Korea. It posted sales of 2.1 trillion won in Korea last year, up 21 percent from a year ago. This figure is a record high for Bosch Korea’s history. Two thirds of its sales came from the auto parts business.
In the meantime, Bosch Korea plans to set up a 50:50 joint venture with a Korean firm KCW. The joint venture will be engaged in the production of wiper blades for vehicles.