French automotive supplier Faurecia has inaugurated its new South Korea headquarters and technical centre in Seoul, Gyeonggi-do Province.
As part of the €28m investment in South Korea, Faurecia has integrated its three business groups (clean mobility, seating, and interiors), and built a testing and prototype center as well as an exhibition center at the new 8,075 square-metre facility.
Faurecia entered the South Korean market in 2003 and the new facilities mark the steady growth achieved in this market since then by the company.
The company now has three production facilities in Jangan and Youngcheon and employs nearly 1,000.
“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,” explained group CEO Patrick Koller at the inauguration ceremony on 23 May.
Especially, he added, as one of the key clients of the company is the Hyundai-Kia Motors Corp (HKMC), which the French group considers as “a strategic customer”.
According to Seung-kyu Lee, president of Faurecia Korea, the French group expects to reach sales of €500m in South Korea by 2020, through the development of advanced technologies for the market.
Among some of those technologies is the ‘exhaust heat recovery system’ which was recently launched on the Hyundai Ioniq.
Faurecia Korea produces clean mobility systems, seat frames, seat mechanisms and center consoles for Hyundai-Kia, Renault-Samsung Motor, and GM Korea.
Faurecia Korea sales revenue reached €330m in 2016.