Bosch Achieved Record-high Sales in Korea Last Year

Jul 13, 2015

Bosch, one of the world's largest auto parts makers, achieved record-high sales in Korea last year.

At a press conference marking the company's 30th anniversary in Korea, Frank Schaefers, CEO of Robert Bosch Korea, said the company’s sales recorded 2.1 trillion won (US$1.9 billion) last year. The figure, which increased 21 percent from a year earlier, is the largest since it lunched the operation in 1985. The sales amount totaled that of Robert Bosch Korea, Bosch Electrical Devices (RBKB), Bosch Rexroth Korea and ETAS Korea.

The major contributor is auto parts occupying two thirds of the total sales. The company is expected to keep an upward growth trend by recording a three to five percent growth this year.

The CEO of Robert Bosch Korea said he will make every effort to keep the upward trend by providing innovative products and services for Korean car manufacturers.

“Korea is an important market for Bosch,” Schaefers said, adding, “We do our best to offer innovative products and services to Korean automakers in a sustainable manner, particularly in the areas of automated driving, Internet connectivity and electrification.”

“In the past five years, the company invested a total of 260 billion won [US$232 million] and plans to invest 30 billion won [US$27 million] in 2015, we will continue to expand our investment in Korea,” the CEO said.

As part of the efforts to strengthen its local presence, Bosch has established a 50-50 joint venture with KyungChang Wiper to develop, manufacture, and sell advanced wiper systems in Korea.

The company, headquartered in Yongin, Gyeonggi Province, operates three plants and employs nearly 2,000 workers.

Source: BusinessKorea