By Kim Yoo-chul
German giant Siemens has been in talks with several unnamed Korean firms for strategic alliances to proceed with joint overseas projects as part of its ``localization strategy,’’ the firm’s top executive in Korea said Thursday.
``We will be aggressive in acquisition deals. Siemens Korea will look to strengthen competitiveness in existing and new businesses,’’ said Kim Jong-kap, the chief executive of Siemens Korea.
The former CEO of Hynix Semiconductor, the world’s second-biggest memory chipmaker, is the first Korean chief executive in Siemens’ 60-year business history in Korea.
The new executive declined to unveil the amount of investment in Korea that Siemens has in mind this year, though he expects all of its businesses including energy and healthcare to maintain a double-digit growth rate every year under his reign.
``Siemens Korea is planning to more than double the portion of businesses that the Korean affiliate directly manage within the next five years in accordance with our localization strategy,’’ said Kim in a news conference held in downtown Seoul.
The chief executive also added he will implement high ethical and legal standards for Siemens Korea to follow and comply with a so-called ``sustainable codes of conduct,’’ contributing to environmental protection and local community development.
When asked for detailed plans for its healthcare business, Kim said, ``We are mulling over the possibility to hire 10 percent more staff for healthcare-related businesses to better respond to rising calls from our clients.
``Samsung’s recent advance into the healthcare sector looks good because our related businesses receive opportunities for further growth via competition with Samsung.’’
Over the question of the ongoing deal with Hynix, the chip expert was positive as Korea is well positioned for the cash- and labor-intensive memory chip business compared to other countries.