Faurecia has inaugurated its new South Korea headquarters and technical centre in Seoul, Gyeonggi-do Province, in the presence of Gyeong-pil Nam, Governor of Gyeonggi-do Province and Patrick Koller, chief executive officer of Faurecia.

At the inauguration ceremony, Patrick Koller said “Today’s event marks an important milestone in Faurecia’s history in South Korea which began in 2003. It is essential for us to install all of our business Groups and technical competencies in Korea in this state-of–art facility to be close to our customers. Especially, we value very much our relationship with HKMC which we consider as a strategic customer.”

Faurecia invested around EUR28m (US$31.31m) to integrate its three Business Groups (Clean Mobility, Seating, and Interiors), a testing and prototype centre as well as an exhibition centre in this 8,075 square meters building.

Mr. Seung-kyu Lee, president of Faurecia Korea added “Since 2003, Faurecia has grown rapidly in Korea. We now have three production facilities as well as this new centre and employ almost one thousand people. Through the development of advanced technologies for the Korean market, such as the Exhaust Heat Recovery System recently launched on the Hyundai Ioniq, Faurecia will continue to grow and expects to reach almost half a billion euros of sales in 2020.”

After the dedication ceremony, Faurecia Korea, 15 business partners and Gyeonggi-do Province signed an agreement for an ethically cooperative relationship.