Based in Munich, Germany, Siemens AG is ranked 47th among Fortune Global 500 2012 with staff of 370,000 in more than 190 countries across the globe and annual turnover of €78.3 billion (KRW 11.7 trillion). Its energy unit, Siemens Energy Solutions, has chosen Seoul as the location of its Asia regional headquarters.
The Seoul Metropolitan Government and Siemens AG will sign on Monday, May 27 (10:00 am), a memorandum of understanding on “Foreign Investment for the Establishment of Siemens Energy Solutions’ Asia Regional H/Q in Seoul” at the Press Conference Hall of the Seoul Metropolitan Government (8th floor of City Hall).
The MOU signing ceremony will be attended by eight people including Mayor Park Won Soon, Choi Dong Yun, Deputy Mayor for Economic Planning, Kim Jong Kap, chairman and CEO of Siemens Ltd., Seoul, and Jeong Myeong Cheol, vice president of Siemens Ltd., Seoul.
To Open Doors in October 2013 with 500 Local Staff
Set to open its doors in October 2013, Siemens Energy Solutions Asia H/Q will play a significant role in boosting the local economy. The headquarters is planning to hire a total of 500 staff in Korea by 2017. Its operation in Seoul will contribute considerably to the development of Korea’s energy industry.
Korea to Benefit from the World’s Top-notch Power Plant Design & Operation Technologies
Siemens Energy Solutions will dispatch engineers of high caliber to Seoul for the control of its pan-Asia operations. They will transfer their world-class technologies to Korean technical staff in the area of eco-friendly power plant design and operation.
Seoul Emerging as the Hub of Multinational Companies’ Asia-Pacific Operations
Siemens Energy Solutions Asia H/Q will cover a vast geographical area. It will be in charge of all of its operations not just in Northeast Asia and Southeast Asia but also in Southwest Asia and Middle East. In addition to all businesses related to the provision of energy solutions to the region, the Asia H/Q plans to carry out a considerable part of the company’s R&D activities as well.
Siemens Energy Solutions is the global leader matched only by General Electric in the areas of design, manufacture, and operation of various cutting-edge gas and steam turbines.
The company’s choice of Seoul as Asia headquarters has proven to the world that Seoul is business-friendly. Furthermore, it strongly backs up the assertion of the metropolis that Seoul is the best location for multinational companies’ Asia headquarters.
“The establishment of Siemens Energy Solutions’ Asia headquarters in Seoul will provide a momentum for more active investments in Seoul by multinational corporations. Seoul Metropolitan Government will extend its fullest support to Siemens Energy Solutions Asia H/Q so that it can settle as early as possible and operate its business very successfully as a model for the regional headquarters of many other multinational corporations,” said Mayor Park Won Soon.