Capital outlays are projected to grow significantly in South Korea in social infrastructure fields, such as railways and electric power generation, and in industrial fields, particularly the automotive, steel, electric appliances, and food industries. Fuji Electric has been expanding its business in the South Korean market focusing on the sales of components. In addition to these products, the Company intends to step up sales and marketing of systems designed for industrial, power and other types of plants in the future.
To realize this objective, Fuji Electric has renamed Fuji Electric FA Korea Co., Ltd. as Fuji Electric Korea Co., Ltd. and established it as a new company after its subsidiary, Fuji Electric FA Components & Systems Co., Ltd., transferred all of its 200,000 shares in Fuji Electric FA Korea Co., Ltd. to Fuji Electric. The new company will work to expand sales activities rooted in the local market as Fuji Electric’s comprehensive sales and marketing company in South Korea.