BMW to Expand Investment in Korea
28 November, 2019
BMW is set to step up investment in Korea, including doubling staff at its research and development center here.
This plan was disclosed by two executive directors, Nicolas Peter and Pieter Nota, at a press junket on Yeongjong Island in Incheon on Wednesday.
The R&D center, built on the island in 2015, was BMW's fifth overseas after the U.S., China, Japan and Brazil. BMW is going to increase research staff from the current 16 to 29 by next year and expand the facilities, which carries out research on batteries and other future technology while developing products.
BMW will buy more than 2 billion euros worth of components from Korean companies next year, up 30 percent from 1.5 billion euros this year.
Peter said Korea is an important partner in terms of sales and technology, and BMW will continue to invest here and further strengthen partnerships with local companies.
Source: