Bosch will spend KRW170bn won ($151m) this year to expand facilities in Korea.
According to Korean reports, Hermann Kaess, president of Robert Bosch Korea, said the company originally planned to invest KRW200 but the amount was reduced in response to a declining profitability ratio. Bosch Korea had sales of 2.03 trillion won last year.
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Bosch reportedly spent KRW60bn won last year for petrol direct injection production, and this year will spend KRW150bn to add a high pressure pump production line for fuel injection systems at its Daejeon plant, which is expected to create about 400 jobs by the end of the year. When completed, it will have a production capacity of 6m fuel injection systems annually.
“Through the expansion at Daejeon, we will be able to provide our customers in Korea with the latest technology for powertrains in gasoline as well as diesel that will further reduce fuel consumption and emissions,” Kaess said.
“We are looking at all opportunities,” he said. “Korea is one of the largest car-producing countries, and it is highly interesting for us to be here. I expect it [the Korean market] will be more important in the future because innovative companies like us are strong in highly efficient gasoline and diesel technologies.”
